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AP Chambers Women's Wing Holds Meet On Nari Shakti Scheme

The Union Nari Shakti Scheme provides various loan facilities, including working capital and term loans, to support women-owned businesses

AP Chambers Women's Wing Holds Meet On Nari Shakti Scheme

AP Chambers Womens Wing Holds Meet On Nari Shakti Scheme
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20 Dec 2024 11:21 AM IST

Visakhapatnam: AP Chambers women's wing on Thursday organised a session on the "Union Nari Shakti Scheme" aimed at raising awareness on the support being extended to women entrepreneurs in their journey to start or grow their businesses.

Speaking at the meeting, Narasimha Kumar, Regional Head of Union Bank of India (UBI), outlined the key features of the Nari Shakti scheme. He emphasised the importance of popularising this initiative to empower women entrepreneurs across the region.

"The Union Nari Shakti Scheme is an essential step towards empowering women in business. It is designed to provide not just credit facilities, but also access to skill development, mentorship, and advisory services," he said. "Our Nari Shakti Branches will serve as hubs, offering a range of services to women entrepreneurs to help them build successful businesses," he stated.

The Union Nari Shakti Scheme provides various loan facilities, including working capital and term loans, to support women-owned businesses. It offers financial assistance for purchasing or constructing factories, offices, shops, and godowns.

"The loan amount starts at a minimum of Rs 2 lakh, with no upper ceiling. For SHGs, the loan limit is Rs 20 lakh. Additionally, no collateral security is required if the exposure is covered under the CGTMSE scheme," explained Mukunda Priya, Branch Manager, Nari Shakti Branch, Visakhapatnam. "We are also waiving processing charges for loans up to Rs 2 Crores, and providing a 50 per cent concession for loans above Rs2 crore."

The Nari Shakti Scheme aims to provide holistic support to women entrepreneurs through its dedicated Nari Shakti branches. These branches will not only offer financial assistance but also focus on skill development, networking, and advisory services. Dr Y Geeta Srikanth, Chairperson of the women's wing, A Leela Rani, Vice Chairperson of Visakhapatnam, and several women entrepreneurs participated.

Union Nari Shakti Scheme women entrepreneurs Union Bank of India financial support skill development 
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