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 endeavors, especially in the industrial sector.
Under this scheme, special benefits and financial assistance are provided to women to move forward in the business world. In this article, we will study the key features, eligibility criteria, application process and many benefits associated with SBI Stree Shakti Yojana 2023.
SBI Street Shakti Yojana 2023
| Scheme Name | SBI Street Shakti Yojana 2023 |
| was started | Assistance to SBI Bank by the Central Government |
| Beneficiary | All the women of the country who want to start their own business |
| Objective | Self-reliance for the women of the country |
| advantage | Bank loan at low interest rate to start your business |
| benefits are given | by State Bank of India |
| Application Process | offline |
Key Features of SBI Business Loan
In the current business scenario, the number of women involved in entrepreneurial ventures is on the rise. However, financial constraints often hinder their progress. To solve this problem, State Bank of India has launched a loan scheme especially for women. Through SBI Stree Shakti Yojana, women are given loans to start their own business.
The loan amount can go up to ₹20 lakh, enabling aspiring women entrepreneurs to realize their business ideas. Existing business women can also avail loans up to Rs 50 lakh. Additionally, this government-backed scheme offers loans at very low interest rates and eliminates the need for extensive documentation or collateral.
Required eligibility 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.
- The woman applying for the loan should have 50% or more ownership in the business.
- Women businessmen 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.
- The minimum age requirement for the applicants is 21 years.
- Business Categories Covered Under SBI Stree Shakti Yojana 2023
State Bank of India has included some business categories under SBI Stree Shakti Yojana . If your business falls in this category, then you can easily get a loan. Following are the business categories eligible for loans under SBI Stree Shakti Yojana 2023 :
- dairy business
- manufacture of soaps and detergents
- clothing manufacturing
- is a cottage industry
- manufacture of incense sticks
- business of agricultural products
Documents Required for SBI Business Loan
To process the loan under SBI Stree Shakti Yojana 2023, women need to provide certain documents. Required documents include:
- Aadhar card
- But the card
- residence certificate
- I Certificate
- passport size photo
- application
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- certificate of ownership in the company
- bank details
- Partner’s Documents (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.
- Get complete information regarding the loan by contacting the officers of the loan department.
- Receive the application form from the employee.
- Fill all the information sought in the application form correctly.
- Attach self-attested copies of required documents.
- Submit the filled application form to the bank official.
- 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 Stree Shakti Yojana 2023
SBI Stree Shakti Yojana 2023 offers several benefits to women entrepreneurs, which include:
It aims to uplift women from economically disadvantaged backgrounds.
More loans available to women at lower interest rates.
Loans facilitate the conversion of small scale enterprises into large scale businesses.
The loan approval process is faster, thereby reducing the downtime of the business.
Loans are given without the need for collateral or extensive documentation.
Conclusion : SBI Stree Shakti Yojana
In today’s era many women aspire to start their own business. However, financial constraints often present significant challenges. SBI Stree Shakti Yojana , launched by the State Bank of India , addresses this problem by providing loans to women entrepreneurs. This 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 |
FAQs
What is SBI Stree 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.