46 XX | Enlightener Series | A. Public Sector Schemes

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 article.

About this scheme…

Dena Shakti Scheme was launched in 2010, by Dena Bank (which merged with Bank of Baroda in 2019) with the objective of encouraging & empowering women entrepreneurs by providing them access to affordable credit at concessional interest rates for setting up new enterprises or expanding existing businesses across various sectors.

How is it being implemented?

Under Dena Shakti Scheme, direct financial assistance in the form of loans is given to,

Women owned MSMEs in Agriculture & Allied Activities, Manufacturing, Services, Retail Trade
Self-Employed Women Professionals such as Chartered Accountants, Architects, Doctors, etc.

What’s on offer?

I. Product

Term Loan and Working Capital Facility
Ticket Size: up to ₹20 Lakhs

II. Purpose:

Acquisition of or investment in fixed assets
Working capital requirements

III. Borrower Type:

Individuals, Sole Proprietorships, Partnership Firms, Limited Liability Partnerships (LLPs), Private Limited Companies
For more information around this, please contact Bank of Baroda via means mentioned below

IV. Security or Collateral or Guarantee or Insurance

Primary Security: There may be primary charge on assets financed under this Scheme
Collateral Security: Nil , For more information around this, please contact Bank of Baroda via means mentioned below
Guarantee: Nil, For more information around this, please contact Bank of Baroda via means mentioned below
Insurance: For more information around this, please contact Bank of Baroda via means mentioned below

V. Interest Rate

Bank of Baroda’s Normal Rate for Such Loan Less Concession of 0.25%
May range between 7.90% to 10.60%
For more information around this, please contact Bank of Baroda via means mentioned below

VI. Processing Fee

5% of loan amount

VII. Margin Money Requirement

For more information around this, please contact Bank of Baroda via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure: Up to 10 years
Repayments: EMIs
Pre-payment & Foreclosure Charges: For more information around this, please contact Bank of Baroda via means mentioned below

IX. Turnaround Time

For more information around this, please contact Bank of Baroda via means mentioned below

Interested? Read ahead to check your eligibility….

I. Are you over 18 years of age?

II. Do you own & run your business?

Do you own at least 50% stake in the business?

III. Have you participated/completed or are you willing to participate in Entrepreneurship Development Program (EDP) conducted by Government agencies?

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