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Bharat Vanita Udyami Scheme

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Status: Active

Classification: Private Sector Scheme

Release Date(s):
11th February 2023
10th September 2021

Offering: Loan/Credit

Entity Type: Co-operative Bank

Reading Time: 4 Mins

Ticket Size: Upto ₹ 2 Crores

Entity Name: Bharat Cooperative Bank (Mumbai) Ltd

#Views: 58

Disclaimer….before you read ahead!
The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

 

About this scheme…

Bharat Vanita Udyami Scheme was launched by Bharat Co-operative (Mumbai) Bank Ltd. (Bharat Bank), with the aim of promoting and supporting businesses carried out by women entrepreneurs by meeting their credit needs.

Bharat Bank is one of the leading multi-state Scheduled Urban Co-operative Bank with presence across 3 states – Gujarat, Karnataka and Maharashtra.

 

How is it being implemented?
Under the Bharat Vanita Udyami Scheme, direct financial assistance, in the form of loans is given to

  • Women entrepreneurs

 

What’s on offer?

I. Product

  • Term loans
  • Working capital facility: Cash Credit
  • Ticket size of upto ₹ 2 Crores

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

III. Borrower Type:

  • Sole Proprietorship, Partnership firms, Limited Liability Partnership, Private Limited Company

IV. Security or Collateral or Guarantee or Insurance

  • Security: First charge on assets purchased out of Bank Finance
  • For information around collateral, guarantee and insurance, please contact Bharat Bank via means mentioned below

V. Interest Rate

  • Around 11.11% per annum

VI. Processing Fee

  • 0.6% comprising of,
    • Loan processing charge of 0.2% of loan amount
    • Incidental charge of 0.4% of loan amount

VII. Margin Money Requirement

  • Around 20%. For more information this, please contact Bharat Bank via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

  • For term loans: upto 120 months including moratorium/gestation period
  • For cash credit: 1 year or on demand unless revoked earlier
  • For more information on repayments, pre-closures etc., please contact Bharat Bank via means mentioned below

IX. Turnaround Time

  • For more information on turnaround time, please contact Bharat Bank via means mentioned below

 

Interested? Read ahead to check your eligibility….

I. Do you own your business?

OR

In case of partnership firm, are majority of partners women?

OR

In case of private limited company, do women own at least 51% of the shareholding in the company?

II. Do you control the management of your business?

OR

In case of partnership firm, are majority of partners women?

OR

In case of private limited company, do women directors constitute majority?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under Bharat Vanita Udyami Scheme!

 

So…how big is this scheme and what has been done so far?

I. Details for Bharat Vanita Udyami do not seem to be available in the public domain

So, now, how should you go about it?

I. For information on loan application & list of documentation, and for submitting application & documents, please visit one of the 103 Bharat Bank branches in Gujarat, Karnataka & Maharashtra

II. For any queries, contact Bharat Bank on phone 022 61890999 or call one of the 103 Bharat Bank branches in Gujarat, Karnataka & Maharashtra

 

Go on then…and do spread the word!

 

Sources:

  1. Primary Research
  2. About the Scheme
  3. About Interest Rate
  4. About Service Charges
  5. Bharat Bank’s Latest Annual Report

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