Canara Stree Shakti Scheme – Canara Bank

About the Scheme

The Canara Stree Shakti Scheme is a loan facility offered by the Government eligible for the women entrepreneur to starting Well perform DAY-NRLM self-help Groups (SHGs) moved from group based activities towards individual entrepreneur. The Scheme provided financial support for starting and expending small income generating business.

Stree Shakti – Key Details

Key Features of the Scheme

Canara Stree Shakti scheme was introduced by the Government for the eligible women to starting or expending their business to Well performed Day-NRLM self help groups. The scheme offered for the women term loan and working capital, with the benefits such as, Guarantee coverage, Credit interest support for the eligible borrows salified the document for the specific activities. It aims to help the women for business strength and generate income for financial independent women.

• Women focused Financial Support
  
  
• Loan Up to 5 lakhs
  
  
• Two types of credit facility
  
  
• No collateral Security
  
  
• Credit guarantee coverage under the scheme
  
  
• Interest subvention also mention the loan amount was Rs. 1.50 lakhs for the maximum period interest 2% are available
  
  
• Eligibility credit guarantee fees can be reimbursed for the loan up to Rs.5lakha for the five years
  
  
• Flexible repayment
  
  
• Simplified the documentation for identified the document

Security of Canara stree Shakti Scheme

Eligibility of Canara Stree Shakti Scheme

• Women SHGs Member – The women must be a women who is a member of an eligible DAY-NRLM Self-Help Groups
  
  
• Matured SHG – The SHG should generally be more than 2 years old
  
  
• Previous Bank Loan – The SHG should have already received at least one bank loan and maintained a satisfactory repayment record
  
  
• Business Experience – The individual Women member should have a minimum of 2 years of business record
  
  
• Identification through NRLM/SRLM – Eligible beneficiaries are identified and sourced through the concerned NRLM/SRLM officials
  
  
• Entrepreneurship Purpose – The Applicant Should interned to use the finance for the eligible income generating business or Entrepreneurial activity covered under the scheme
  
  

Document Required

• Simplified the Loan Application form
  
  
• Aadhaar Card
  
  
• KYC Document of Individual
  
  
• KYC Document of the unit / Activity / Business Enterprises
  
  
• Forwarding letter by NRLM /SRLM Officials
  
  
• Declaration regarding ownership of Activity site from owner of the site
  
  
• Undertaking the form borrowers about purchase of article
  
  
• Bank Account Number Linked with Mobile Number
  
  
• Permanent Address proof
  
  
• Business Information about the proposed activity will be carried out, wherever required
  
  
• Relevant licences, registrations, quotations or other documents may be requested depending on the nature of the activity
  
  
• Documents or confirmation from the concerned NRLM/SRLM authorities, wherever applicable

Guidelines of this Scheme

1. Waiver of last 2 years Balance sheet / Project balance sheet / Income Tax or Sales Tax return for the above mentioned 30 eligible activities
   
   
2. Comprehensive insurance policy for the assets created out of Bank finance must be available
   
   
3. No Prior quotation required. Undertaking Letter about purchase of article to be obtained

Application Process

Step-by-Step Process

Step 1 – Check Eligibility

First, the woman applicant should confirm that she is a member of a mature and well-performing DAY-NRLM Self-Help Group and meets the scheme conditions.

Step 2 – Beneficiary Identification

Eligible beneficiaries are identified and sourced through the concerned NRLM/SRLM officials.

Step 3 – Select the Business Activity

The applicant should decide on an eligible income-generating activity, such as tailoring, dairy, poultry, grocery, beauty services, food-related activities or another activity covered under the scheme.

Step 4 – Prepare the Document

The applicant should keep the required KYC documents, business/activity details, NRLM/SRLM forwarding letter and other documents requested by the bank ready.

Step 5 – Submit the Loan Application

A simplified loan application form is submitted along with the required documents through the appropriate Canara Bank branch/process.

Step 6 – Bank Verification

Canara Bank verifies the applicant, SHG background, proposed activity and submitted documents before taking a lending decision.

Step 7 – Loan Sanction and Disbursement

After approval, the eligible loan is sanctioned and disbursed according to the bank’s applicable terms and conditions.

Conclusion

The Canara Stree Shakti Scheme provides a useful financial opportunity for eligible women from DAY-NRLM Self-Help Groups to start or expand small businesses. By offering suitable credit facilities and additional benefits such as interest support and credit guarantee coverage, the scheme can help women strengthen their businesses and improve their income. Overall, it encourages women’s entrepreneurship, financial independence and sustainable livelihood opportunities.

Application Link in Below