As part of the socio-economic upliftment of women programmes of the Department, the Women Entrepreneurial Development Initiative was introduced with the aim to promote upcoming women entrepreneurs by providing interest-free loan of Rs. 1.00 lakh per beneficiary for enterprise creation.
Criteria for eligibility
- Unemployed women, preferably educated-unemployed;
- Age of the applicant should be between 25-50 yrs during the time of applying for the loan;
- Applicants already covered under any other scheme of financing sponsored by the Central or State Government or financial institutions shall not be eligible;
- Applicants should be backed by a Guarantor who should be a regular government servant with minimum five (5) years of service from retirement/superannuation.
Strategy/Nature of Assistance
- The quantum of assistance will be limited to Rs.1.00 lakh per selected beneficiary;
- The period of loan and repayment of the loan of Rs. 1.00 lakh will be 15 months. A moratorium of 3 months will be provided following which, the full repayment of the corpus by the beneficiary to the Department must be completed in 15 months (i.e. 15 instalments) with fixed monthly instalments as given at Format ‘B’
Procedure for Applying under the Scheme
The application in the prescribed format (Format ‘A’), addressed to the Director, Directorate of Women Resource Development, Govt. of Nagaland, shall be submitted to the concerned Partner NGO (District)/Partner NGO (Sub-Division) of the Department with Detailed Project Report.
Identification, Verification and Selection of Beneficiaries
- The PNGO/SPNGO shall, through its sub-units and representatives/members, provide wide publicity to ensure fair and equitable representation of all tribes cohabitating its district/sub-division;
- The PNGO/SPNGO shall identify deserving beneficiaries and forward the detailed list of identified women to the District Women Development Programme Monitoring Committee (DWDPMC) for onward verification and selection;
- Verification of the authenticity and dependability of the applicant shall be carried out by the DWDPMC with all Committee Members present.
- Selected list of beneficiaries countersigned by all DWDPMC members present along with documents of the applicants shall be forwarded to the Director, Department of Women Resource Development for sanctioning of loan fund.
Project Verification, Monitoring & Loan Recovery
- The concerned PNGO/SPNGO shall be responsible for recovery of loans from the selected women beneficiaries after expiry of the moratorium period. The PNGO/SPNGO shall maintain a Loan Issue & Repayment Register as given in Format ‘B’ which shall be examined by the DWDPMC from time to time.
*It is subjected to fund availability of the Department, which are advertised in local media from time to time.