UDYAM NIDHI YOJANA (UNY)

The Udyam Nidhi Yojana (UNY) is a financial support scheme managed by the National Backward Classes Finance & Development Corporation (NBCFDC) under the National Backward Classes Finance & Development Mission (NBCFDM). The primary objective of the Udyam Nidhi Yojana is to provide financial assistance to entrepreneurs from the backward classes for setting up small and medium-sized businesses. This initiative helps promote self-employment, economic independence, and the overall development of marginalized communities in India.

The Udyam Nidhi Yojana offers loans at concessional interest rates to individuals belonging to economically disadvantaged backward classes who wish to start their own businesses or expand existing enterprises. The loan amount can be used for purchasing machinery, equipment, raw materials, working capital, and other expenses related to business setup and growth. It is available for a wide range of industries, including manufacturing, service sectors, trade, and more.

Eligibility for the Udyam Nidhi Yojana is based on factors such as the applicant's social and economic status. The applicant must belong to the backward classes as defined by the government, and the family income should fall within the specified limit. The scheme is specifically designed to support individuals who may not have access to traditional banking services or capital required for starting their own ventures.

The scheme also aims to foster entrepreneurial skills within the backward communities, empowering individuals to break free from poverty and dependence. With favorable loan repayment terms and financial guidance, the Udyam Nidhi Yojana helps promote entrepreneurship, encouraging economic self-sufficiency, job creation, and the growth of small businesses.

Overall, the Udyam Nidhi Yojana, under the support of NBCFDC, is a vital tool for empowering backward classes, boosting entrepreneurship, and contributing to the socio-economic development of these communities.