How to Apply for Shringaar and Annapurna Scheme from SBI


The economic health of a country can be greatly impacted by a successful entrepreneur. Despite numerous women entrepreneurs establishing and becoming successful, the challenges faced by women have remained constant. In addition to dealing with a variety of obstacles related to limited resources, women entrepreneurs who run small businesses face additional challenges.

In this article, we will cover all the basics about Shringaar and Annapurna Scheme for budding female entrepreneurs and its eligibility criteria. We will also talk about the obstacles to promoting women’s entrepreneurship and sustainability.

According to statistics, despite the technological revolution India has experienced in the last few decades, less than 14 per cent of Indian women are business owners. Surprisingly, 79% of all businesses owned by women are self-funded. Compared to more than 50 million men entrepreneurs in India, there are only about eight million women entrepreneurs. By now, it has become clear that males are overwhelmingly dominant in startups and SMEs.

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The economic health of a country can be greatly impacted by a successful entrepreneur. Despite numerous women entrepreneurs establishing and becoming successful, the challenges faced by women have remained constant. In addition to dealing with a variety of obstacles related to limited resources, women entrepreneurs who run small businesses face additional challenges.

Moreover, it is challenging for women to find the equipment, expertise, and business networks they need to run their businesses successfully, and a lack of these networks further magnifies the challenges of finding customers, partners, and suppliers, and gaining market access necessary to thrive.

There are several financing schemes put in place by the central and state governments to help women become entrepreneurs. In an attempt to reduce the gender gap, central and state governments, along with many banks, have introduced several funding schemes. Shringaar and Annapurna are two such schemes that operate under the guidance of the Indian Government.

Among a number of government loan programs available to female borrowers, SBI’s Shringaar and Annapurna loan programs offer attractive benefits at competitive interest rates. In addition, both of these programs aim to provide entrepreneurial opportunities for rural women from underprivileged backgrounds.

Read More: Udyogini Scheme-Objectives, Eligibility, Requirements.

Shringaar – An overview:

This scheme was an initiative of the Bharatiya Mahila Bank (BMB). The Bharatiya Mahila Bank merged with State Bank of India in 2017, and in the process took over a variety of financial operations, including this scheme.

Women can apply for this business loan for the purpose of establishing or running their own beauty parlor, salon, or spa. Finances can be used to get a business off the ground, to purchase tools and equipment, and to cover daily expenses.

Any woman between the ages of 20 and 60 is eligible to apply. Repayment of the loan amount along with the interest (if any applicable) must be completed within seven years. It is a debt repayment scheme with no collateral.

Businesses supported under this scheme

  • Beauty salon
  • Spa
  • Hair Salon
  • Hair removal service
  • Nail salon

Rates of Interest information

Interest Rate: 12.25 percent

Loan Amount: No Minimum Limit, Maximum collateral-free loan up to Rs. 1 Crore is provided under the CGTSM scheme.

Repayment Tenure: 7 years

Collateral/Security or Third-party Guarantee: Not required

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Annapurna from SBI – An overview

Through this program, the Government of India offers term loans up to Rs. 50,000 to women entrepreneurs running food service-related businesses. The borrowed capital could be made use of to buy work-related supplies such as kitchenware, a gas connection, a fridge, and kitchen tools, among others.

Since it takes time for profits to be generated after starting a business, the bank provides a grace period of one year. As soon as the grace period is over, the loan amount must be repaid in monthly instalments. Processing fees may vary according to the amount of the loan.

Presently, only Bharatiya Mahila Bank and State Bank of Mysore offer this a scheme.

Businesses supported under this scheme:

  • Providing packaged food for sale
  • Canteen
  • Catering services
  • Food truck
  • Cooking class
  • Fresh juice shop
  • Bakery
  • Street food stall

Rates of Interest information

Interest Rate: it is determined on the basis of the market rate and the bank concerned.

Loan Amount: Rs. 50,000

Repayment Tenure: 3 years

Collateral/Security or Third-party Guarantee: You also need a guarantor along with the assets of the business being pledged as collateral security.

Loan Type: Term loan

Read More: Mahila Udyam Nidhi Scheme – Features , Eligibility , Documents .


Under the leadership of the government, many banks and financial institutions are looking to develop and strengthen partnerships between women organizations. SBI’s Shringaar and Annapurna schemes share goals similar to those of other banks and financial institutions.

They have a common focus on empowering women in all regions of the country, by providing strategic business advice and support to women who have historically been denied such opportunities.

Documents required 

  • Properly filled out the application form with two passport-size photos of the applicant
  • Well laid out business plan.
  • ID proofs:  These might be DL (driver’s license), voter identification card, PAN information,  a copy of a valid passport, and a copy of an Aadhaar card.
  • Address Proof: Copy of Passport, Utility Bills, Copy of an Aadhar Card, Voter’s identification card
  • Any other document required by the lender.
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Smart women excel in intelligence, great skill, innovation, hard work, and commitment. If we can capitalize on these characteristics, we will be able to achieve substantial growth in our economy. It is vital for women to be literate for the economy to thrive and entrepreneurship to flourish. A lack of literacy can be a major hindrance to their entrepreneurial efforts. In order to understand the ground realities, we need to examine this issue in detail from the target group’s viewpoint.

In the fast-growing entrepreneurship regions, female entrepreneurs are a small minority. While prejudice, gender inequality, and insufficient support are likely to be contributing factors for the majority of women, a major stumbling block in the entrepreneurial journey of aspiring women is a lack of equity in the form of investment at the start-up stage.

It is well-established that women’s contribution to the economy ultimately leads to businesses that perform better and in turn support economic growth. Women’s startups are crucial in laying the groundwork for the next generation of entrepreneurs. Along with the initiatives our government has taken to encourage female entrepreneurship, they should also implement programs aimed at helping young girls participate fully in the economy as they grow up.

To know more details on Shringaar and Annapurna from SBI,  You can email [email protected] or call at  +918886666821.

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