The question of a woman’s place in modern-day India is a complicated one. There is visible dissonance in the upper as well as the lower echelons of society about reimagining their traditional roles. However, as people of the 21st century who are aware of Rosa Parks, Hellen Keller or Annie Besant, there should be no question in our minds about where they belong. Women have been changing the world for hundreds of years, the only shame is that it took us a long time to acknowledge their propensity for success.
Encouraging women to gain equality through equity is an important aspect of today’s governance. Even after 70 years of Indian Independence, women empowerment is an aspect that still needs thorough exploration. In a society that still remains negatively oriented for female enterprises, there are a number of schemes and opportunities available that would enable the modern woman to punch above her weight. Here are a few of these opportunities.
Schemes That Encourage Today’s Business Women
This loan is set up with the sole intent of supporting women entrepreneurs in their respective ventures. With a concession rate of 0.25, the interest rates for this loan starts from 10.15. Capital as large as 20 crores will be made available to women who are working out of the retail industry, loans against property, micro and SME loans etc. There is also the added benefit of not needing collateral security for availing loans up to the amount of 1 crore. This scheme is very useful for bussing women entrepreneurs.
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This scheme requires no collateral from the loanee and helps women in starting new ventures or to modify projects that they have already started on their own. Offered by the Central Bank of India, another important highlight of the scheme is that in addition to the lack of collateral, there is no requirement for a guarantor or processing fees to avail this loan. With a maximum loan amount of 100 lakhs, the Cent Kalyani Scheme has been set up to help women in retail, small-scale industry as well as agriculture. The interest rate for this particular scheme will be defined by the existing market rates.
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This scheme is tailor-made for women who are starting new small-scale ventures or looking to expand an already established business. The ventures can range from beauty parlors, tuition centers or even tailoring units. This collateral free loan is divided into three categories:
- Shishu: An amount of 50,000 can be procured by women who are looking to start off their business.
- Kishor: This is for well-established businesses and the loan amount varies between 50,000 to 5 lakh rupees.
- Tarun: Defined as a business expansion scheme, this programme 10 lakhs to improve upon an already successful business.
Offered by the State Bank of India, this loan can be availed by women who possess 50 percent ownership in a given business or firm. Another eligibility criteria is that women entrepreneurs who have taken part in Entrepreneurship Development Programmes (EDP) are eligible for the loan. Availing a loan of more than 2 lakhs will also procure you a discounted interest rate of 0.50 per cent.
The need for bringing women into the forefront of business innovation is very high in today’s world. A strategic and goal oriented framework that encourages more women to start business ventures by themselves will greatly benefit the country in the coming years. These schemes offered by the central government are a step in the right direction.