SEHER Program For Supporting Women Entrepreneurs
Context:
The SEHAR program, launched through a partnership between the WEP and TransUnion CIBIL, to significantly empower women entrepreneurs in India.
About SEHAR Programme:
Launched to address the lack of financial awareness among micro, small, and medium enterprises (MSMEs), particularly those owned by women.
Aims to empower women entrepreneurs in India with financial literacy and business skills.
SEHER focuses on providing comprehensive support across various aspects:
- Financial Literacy: Educating women on financial management, including understanding CIBIL Rank and credit reports.
- Access to Finance: Facilitating easier finance access through enhanced credit awareness and education.
- Business Growth: Supporting sustainable growth by equipping entrepreneurs with essential skills and knowledge.
India has 63 million micro, small, and medium enterprises of which around 20% are women-owned, employing as many as 27 million people.
Estimates suggest that by accelerating women’s entrepreneurship, India could create more than 30 million new women-owned enterprises, potentially creating 150 to 170 million more jobs.
- It supports the goal of bolstering India’s economy by fostering inclusive growth through women’s entrepreneurship.
Overall, it is a crucial step towards fostering a conducive environment for women entrepreneurs in India and promoting economic empowerment through enhanced financial education and access to credit.
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Women Entrepreneurship Platform:
TransUnion CIBIL:
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Some of The Initiatives For Women Entrepreneurs Empornment:
- Bhartiya Mahila Bank (BMB): business loan scheme offers loans up to ₹20 crores for women-owned manufacturing companies at 10.15% interest rate.
- Pradhan Mantri Mudra Yojana provides funding to micro and small entrepreneurs, focusing on the unfunded.
- Mahila Shakti Kendra: supports women with skill development, digital literacy, and employment opportunities.
- Stree Shakti: provides personal loans up to ₹50 lakhs for women entrepreneurs.
- Mudra Yojana: supports micro enterprises with loans up to ₹10 lakhs without collateral for women.
- Stand-Up India Scheme: provides loans from ₹10 lakhs to ₹1 crore for SC/ST and women entrepreneurs.
- Women’s Savings Bank Accounts cater to financial needs with exclusive benefits like discounts and rewards.
- Annapurna Scheme: provides loans up to ₹50,000 for women in food catering businesses.