Indira Mahila Shakti Udyam Protsahan Yojana: Eligibility, Financial Support & Application Process

Indira Mahila Shakti Udyam Protsahan Yojana
Indira Mahila Shakti Udyam Protsahan Yojana

In a progressive move towards women’s empowerment, the Rajasthan government launched the Indira Mahila Shakti Udyam Protsahan Yojana (IMSUPY) in 2024. This scheme is specifically designed to foster economic independence and empowerment among women by facilitating entrepreneurial ventures through financial support and incentives. Aimed at bolstering self-employment and reducing unemployment, this initiative marks a significant step toward nurturing a vibrant ecosystem for women entrepreneurs in Rajasthan.

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Indira Mahila Shakti Udyam Protsahan Yojana 2024

The scheme was inaugurated on the auspicious occasion of Sarojini Naidu’s birthday at Podar College Campus, Rajasthan, highlighting its dedication to women’s empowerment. With a substantial budget allocation of INR 1000 crores, IMSUPY aims to provide comprehensive financial assistance to women, enabling them to start new businesses or expand existing ones across various sectors.

Objective of Indira Mahila Shakti Udyam Protsahan Yojana

The primary objective of IMSUPY is to promote self-employment among women, making them economically self-reliant. By providing loans for establishing businesses in manufacturing, service, trade, dairy, and agriculture, the scheme supports women in improving their living standards and economic status.

Details of Loan Amount under Indira Mahila Shakti Udyam Protsahan Yojana

IMSUPY offers financial support through:

  • Loans up to INR 50 lakhs for individual women.
  • Up to INR 1 crore for Women’s Self Help Groups.
  • The maximum trade loan cap is set at INR 10 lakhs with a subsidy grant limit of INR 15 lakhs.

Banks & Financial Institutions Providing IMSUPY

Several financial institutions are involved in facilitating these loans, including:

  • Small Industries Development Bank of India (SIDBI)
  • Regional Rural Banks
  • Rajasthan Financial Corporation
  • Nationalized Commercial Banks
  • RBI authorized private and small finance banks

Benefits and Features of Indira Mahila Shakti Udyam Protsahan Yojana

IMSUPY is characterized by several benefits:

  • A subsidy on loans ranging from 25% to 30%, with a higher subsidy for the underprivileged.
  • Encourages the establishment of a wide array of enterprises, thereby fostering economic diversity.
  • Implemented under the supervision of the Directorate of Women Empowerment, ensuring effective and targeted deployment of resources.

Eligibility for Indira Mahila Shakti Udyam Protsahan Yojana

  • The scheme is open to all women residents of Rajasthan.
  • Applicants should be involved in dairy, agriculture, service, or trade sectors.
  • The applicant must be 18 years or older.

Eligibility for Institutional Applicants

  • Applicable to Women’s Self Help Groups, clusters, and federations.
  • Must be registered under the Cooperative Act.
  • Should be actively operational for at least one year, maintaining records of savings and traditional transactions.

Documents Required for IMSUPY

Applicants need to furnish:

  • Aadhar card
  • Age proof
  • Income certificate
  • Residence proof
  • Project report
  • Educational qualification documents
  • Mobile number
  • Email ID
  • Passport size photo
  • Bank account passbook

Procedure for Applying under Indira Mahila Shakti Udyam Protsahan Yojana

The application process is straightforward:

  1. Visit the official website of the Women and Child Development Department, Rajasthan.
  2. Navigate to the IMSUPY option on the homepage.
  3. Follow the instructions provided on the new page to fill out the application form in seven detailed steps.
  4. Upload the required documents.
  5. Submit the application.
  6. Upon verification, the loan amount will be transferred to the applicant’s bank account.

This well-rounded scheme not only supports the economic fortification of women but also significantly contributes to the reduction of unemployment in the state, making a robust impact on the overall economic health of Rajasthan.

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