The Government of India has launched a lot of financial schemes for women in India. Through these schemes, Public Sector Banks in India have provided a lot of loan to women across the country. Government has said that no specific study has been conducted in the past five years on financial inclusion schemes exclusively for women. However, the government continuously reviews and improves various credit-linked schemes to facilitate better access to credit for women entrepreneurs.
Loan provided by Government Banks to Women
The amount of loan provided by Public Sector Banks to Women from March 2020 till March 2024 is given below.
| Financial Year | No. of Accounts (in Lakh) | Amount Outstanding (₹ Crore) |
|---|---|---|
| March 2020 | 207.60 | 4,88,459.43 |
| March 2021 | 289.46 | 7,31,617.22 |
| March 2022 | 305.56 | 8,36,200.08 |
| March 2023 | 350.90 | 10,08,935.62 |
| March 2024 | 387.24 | 11,69,279.00 |
Various Government Schemes for Women
The government has launched various financial schemes for women. Some of the schemes are as follows:
- New Scheme for Women Entrepreneurs:
As per the Union Budget 2025-26, a new scheme will be launched to support five lakh women, particularly from Scheduled Castes (SC) and Scheduled Tribes (ST), who are first-time entrepreneurs. Under this scheme, term loans of up to ₹2 crore will be provided over the next five years. This initiative will incorporate successful aspects of the Stand-Up India Scheme and offer online training for entrepreneurship and managerial skills. - Pradhan Mantri MUDRA Yojana (PMMY):
Launched on April 8, 2015, this scheme provides collateral-free loans of up to ₹20 lakh to help entrepreneurs, including women, establish or expand their businesses. - Steps Taken to Address Challenges:
The government has undertaken several measures to enhance the effectiveness of financial inclusion schemes for women. These include:- Intensive awareness campaigns.
- Simplification of loan application forms.
- Credit Guarantee Schemes to reduce lending risks.
- Modifications in the Stand-Up India Scheme, such as reduced margin money requirements and inclusion of agricultural allied activities.
- Jan Samarth Portal:
To streamline access to financial support, the government has launched the Jan Samarth Portal, a digital platform that connects applicants with 15 government-sponsored loan and subsidy schemes. This online system enables quick loan approvals based on digital data verification, reducing the need for extensive paperwork and in-person visits.
