New Swarnima Scheme for Women: NBCFDC Loan Apply, Eligibility

New Swarnima Scheme for Women:- The National Backward Classes Finance and Development Corporation (NBCFDC) introduced the Swarnima Scheme for the welfare of women. Under this program, term loans will be given to female business owners who fall within the target population (backward classes). The State Channelizing Agency (SCA), which serves as the nodal agency, implements the system. Read below to get detailed information related to the New Swarnima Scheme for Women like Highlights, Features, Benefits, Eligibility Criteria, Documents Required, Financing Pattern, Steps to Apply for Swarnima Scheme, and much more

New Swarnima Scheme for Women

New Swarnima Scheme for Women 2024

The Ministry of Social Justice and Empowerment has a term loan program named New Swarnima Scheme for Women that enables female business owners from lower socioeconomic levels to get loans up to 2,000 rupees per month at 5% annual interest, giving them social and financial stability. The National Backward Classes Finance and Development Corporation (NBCFDC) is the founder of the program, and State Channelizing Agencies (SCAs), which serve as the nodal agency, are in charge of putting it into action.

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Details of New Swarnima Scheme for Women Key

NameNew Swarnima Scheme for Women
Introduced byNational Backward Classes Finance and Development Corporation (NBCFDC)
Implemented byState Channelizing Agency (SCA)
Beneficiariesfemale entrepreneurs from underprivileged classes
Objective Providing women social and financial stability
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What is NBCFDC 

The National Backward Classes Finance and Development Corporation, governed by the Ministry of Social Justice and Empowerment, promotes economic and development activities for the benefit of Backward Classes and helps the weaker segment of these classes with skill development and self-employment. Financial aid is provided by NBCFDC via state channelizing organizations (SCAs). Additionally, they provide funds via SCAs and self-help groups (SHGs). NBCFDC assists the economically underprivileged group in creating businesses in the following sectors:

  • Artisan and Traditional Occupation
  • Agriculture and Allied Activities
  • Small Business
  • Technical and Professional Trades/Courses
  • Transport and Service Sector

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Features of Scheme

Some of the key features of the scheme are as follows:

  • The purpose of this plan is to offer a better standard of living
  • To give the women of the state social and financial stability
  • To ensure that the beneficiary lives a self-sufficient life

New Swarnima Scheme for Women Benefits

Some of the key benefits of the scheme are as follows:

  • A subsidy for self-employment in the amount of 2, 00,000 at 5% annually. The beneficiary must possess all remaining funds on their own.
  • Until the projects reach a cost of Rs. 2, 00,000, the recipient woman is not needed to invest any of her own money.

Eligibility Criteria

The eligibility criteria for the scheme are as follows:

  • Only female entrepreneurs from underprivileged classes are eligible to apply for this program
  • The applicant must be between the ages of 18 and 55
  • An entrepreneur must submit an application
  • The applicant’s total annual family income must be less than 3 lakh

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Documents Required to Apply

Some of the important documents required for the scheme are as follows:

  • Identity Proof like an Aadhaar Card
  • Applicant’s Passport size Photograph  
  • Domicile Certificate
  • Ration Card
  • Caste Certificate for reserved category

Financing Pattern

  • Up to 95% of the loan will come from the lender, with the remaining 5% coming from State Channelizing Agencies (SCAs) or beneficiary contributions.
  • The loan’s distribution date plus four months constitute the utilization term.

Interest Rate

The Interest Rate under the scheme is given in the table below:

NBCFDC to SCA2% per annum
SCA to Beneficiary5% per annum

Return of the Loan

The loan sum must be repaid in four years of quarterly payments, plus a moratorium period of six months before the principle is payable.

Steps to Apply for New Swarnima Scheme for Women

To apply for Swarnima Scheme for Women, the user needs to follow the below-given steps:

  • First of all, go to your nearest SCA office
  • Now, get the application form for Swarnima Scheme for Women from the concerned officials
  • Now, fill in the form with all the required details
  • Also, specify your needs, your preferred profession, and any training requirements
  • After that, attach all the required documents with the application form
  • Now, review and recheck the application form to avoid any mistakes
  • Submit the form to the concerned official of the SCA office
  • Finally, SCA will approve the loan after verifying the application

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