The Modi government is running various programs for different groups of people.
They have initiatives for farmers, street vendors, and women. One such program is the PM-Swanidhi scheme for street vendors.
Recently, the government introduced the ‘New Swarnima Loan’ scheme to empower women and make them self-reliant.
The aim of the scheme is to support women from backward classes by providing term loans through the National Backward Classes Finance and Development Corporation (NBCFDC).
These loans enable women to start their own businesses or expand existing ones. Let’s take a closer look at the details of this government initiative:
Scheme Details
The ‘New Swarnima Loan’ is a term loan scheme initiated by the NBCFDC to make backward class women self-reliant.
Eligible women, with an annual family income of less than Rs 3 lakh, can receive loans of up to Rs 2 lakh.
The interest rate on the loan is 5% per annum, equivalent to approximately 42 paise per month.
Documents Required: To avail the loan, applicants need the following documents:
Aadhar Card
PAN Card
Voter ID Card
Income Certificate
Residence Certificate
Occupation Certificate
Loan Usage: The loan can be utilized for various purposes, including:
1) Starting a small business
2) Expanding an existing business
3) Education
4) Healthcare
5) Housing, and more.
How to Apply
To apply for the New Swarnima Loan Scheme, women can apply online on the NBCFDC website (www.nbcfdc.gov.in) or visit the nearest NBCFDC office.
Loan repayment is done through EMIs every three months. For additional information, individuals can call the toll-free number 18001023399.
