The New Swarnima Scheme for Women is a flagship term loan initiative launched by the Ministry of Social Justice and Empowerment, aimed at empowering female entrepreneurs from backward classes. Managed by the National Backward Classes Finance and Development Corporation (NBCFDC) and implemented through State Channelising Agencies (SCAs), the scheme provides collateral-free loans for income-generating activities and ventures.
Highlights of MSJE New Swarnima Yojana
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Scheme Name: New Swarnima Scheme for Women
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Launched By: Ministry of Social Justice and Empowerment
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Implementing Agency: NBCFDC via SCAs
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Loan Amount: Up to ₹2,00,000/-
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Interest Rate: 5% per annum
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Own Contribution: Not required for loans up to ₹2 lakh
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Repayment Period: As prescribed by SCA (typically in easy EMIs)
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Mode of Application: Offline via SCAs
Key Benefits
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Loan of up to ₹2 lakh at a low interest rate of 5% p.a.
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No own investment required by the beneficiary for projects up to ₹2 lakh
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Promotes self-employment and financial independence
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Offers a chance to build a sustainable income-generating business
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Enhances social security and economic mobility for women from backward classes
Eligibility Criteria
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Applicant must be Female
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Age must be between 18 and 55 years
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Must be an entrepreneur (new or existing business)
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Belongs to Backward Class category (Caste Certificate required)
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Annual family income must be less than ₹3 lakh per annum
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Only Indian citizens and residents of the respective state are eligible to apply through their state’s SCA
Application Process (Offline Only)
Step 1: Visit your nearest State Channelising Agency (SCA). You can find your SCA here:
🔗 Find Your Nearest SCA
Step 2: Fill out the prescribed application form, clearly stating your business idea, proposed activity, and if you need any vocational training.
Step 3: Attach the required documents and submit the form to the SCA office. After review and approval, the loan will be sanctioned and disbursed.
Necessary Documents
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Aadhaar Card (Proof of Identity)
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Ration Card (Proof of residence/family income)
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Domicile Certificate
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Caste Certificate (Mandatory for reserved category verification)
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Passport-size Photograph
FAQs
Q: What is the maximum loan amount under this scheme?
A: ₹2,00,000/-.
Q: Do I need to invest any amount if my project is within ₹2 lakh?
A: No, own contribution is not required.
Q: What is the interest rate charged?
A: 5% per annum.
Q: Can the general category apply?
A: No, the scheme is only for women from backward classes.
Q: What is the age limit to apply?
A: Applicants must be between 18 and 55 years of age.
Q: Can male entrepreneurs apply?
A: No, the scheme is exclusively for women.
Q: Is there a sector restriction for eligible businesses?
A: No, any income-generating activity is eligible, subject to SCA approval.
Q: What are SCAs?
A: SCAs (State Channelising Agencies) are government-appointed bodies that implement NBCFDC schemes in the respective states.
Q: Where can I get help or more information?
A: Visit your local SCA office or check the official NBCFDC website for scheme updates and assistance.
