The country’s largest bank, State Bank of India (SBI) has launched an empowerment scheme called SBI Stree Shakti Yojana 2023 . This nationwide initiative aims to uplift and support women in their entrepreneurial endeavours, particularly in the industrial sector.
Under this scheme, special benefits and financial assistance are provided to women to advance in the business world. In this article, we will study the key features, eligibility criteria, application process and numerous benefits associated with SBI Stree Shakti Yojana 2023.
SBI Stree Shakti Yojana 2023
| Name of the scheme | SBI Stree Shakti Yojana 2023 |
| was started | Assistance to SBI Bank by Central Govt |
| Beneficiary | All the women of the country who want to start their own business |
| objective | Self-reliance for the women of the country |
| benefit | Loan from bank at low interest rate to start own business |
| benefits are given | By State Bank of India |
| Application Process | Offline |
Key Features of SBI Business Loan
In the current business landscape, the number of women involved in entrepreneurial ventures continues to grow. However, financial constraints often impede their progress. To address this issue, State Bank of India has introduced a loan scheme specifically tailored to women. Through SBI Stri Shakti Yojana, women are given loans to start their own businesses.
The loan amount can go up to ₹20 lakh, enabling aspiring women entrepreneurs to bring their business ideas to life. Existing business women can also avail loans up to ₹50 lakh. Additionally, this government-backed scheme offers loans at very low interest rates and eliminates the need for extensive documentation or collateral.
Eligibility Required for SBI Stree Shakti Yojana 2023
To be eligible for SBI Stree Shakti Yojana, women applicants must fulfill the following essential criteria:
- Only women are allowed to apply for this scheme.
- A woman applying for a loan must have 50% or more ownership in the business.
- Women business should participate in development programs organized by state agencies.
- The scheme is open to all business categories including small and large enterprises.
- Women doctors can use these loans to set up clinics or invest in various business ventures.
- The female applicant must be a permanent citizen of India.
- Minimum age requirement for applicants is 21 years.
- Business categories included under SBI Shri Shakti Yojana 2023
State Bank of India has included certain business categories under SBI Stree Shakti Yojana . If your business falls under these categories, you can easily get a loan. The business categories eligible for loans under SBI Shri Shakti Yojana 2023 are as follows:
- Dairy business
- Manufacture of soaps and detergents
- Manufacturing of clothing
- A cottage industry
- Manufacture of incense sticks
- Business of agricultural related products
Required Documents for SBI Business Loan
To process a loan under SBI Stree Shakti Yojana 2023, women need to provide certain documents. Required documents include:
- aadhar card
- PAN card
- Residence Certificate
- Income certificate
- Passport size photographs
- Application letter
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- Certificate of ownership in the company
- Bank statements
- Documents of partner (if applicable)
- Profit and loss statement with proof
- Income tax return of last two years
- Business plan
How to Apply for SBI Stree Shakti Yojana 2023? (How to Apply)
Both aspiring and existing women entrepreneurs can apply for SBI Stree Shakti Yojana by following these simple steps:
- Visit your nearest SBI branch, where dedicated staff handle loan applications for this scheme.
- Contact the officers of the loan department and collect complete information regarding the loan.
- Get the application form from the employee.
- Fill all the required information accurately in the application form.
- Attach self-attested copies of required documents.
- Submit the completed application form to the bank officer.
- The application will be verified within 24 to 48 hours.
- Once approved, the loan amount will be transferred to your bank account.
Benefits of SBI Shri Shakti Yojana 2023
SBI Shri Shakti Yojana offers many benefits to women entrepreneurs, including:
- It aims to uplift women from economically disadvantaged backgrounds.
- More loan amount available to women at lower interest rates.
- Loans facilitate the transition of small scale enterprises to large scale businesses.
- The loan approval process is faster, reducing business downtime.
- Loans are given without the need for collateral or extensive documentation.
Conclusion : SBI Stri Shakti Yojana
In today’s age many women aspire to start their own business. However, financial constraints often pose significant challenges. The SBI Stri Shakti Yojana, launched by the State Bank of India, addresses this issue by providing loans to women entrepreneurs. The scheme is specially designed to empower women and promote their growth in the business world. Women can turn their entrepreneurial dreams into reality by availing the benefits of SBI Stree Shakti Yojana.
| Official Website | Click Here |
| Home Page | Click Here |
FAQs
What is SBI Shri Shakti Yojana?
SBI Stree Shakti Yojana is a scheme launched by State Bank of India to support and empower women entrepreneurs in India.
How long does it take to process the loan?
The verification and approval process usually takes 24 to 48 hours, after which the loan amount is transferred to the applicant’s bank account.