United Way Mumbai (UWM), Women’s World Banking (WWB) and HSBC India have joined hands with the Small Industries Development Bank of India (SIDBI) and State Rural Livelihood Missions to expand access to timely and affordable credit for 300,000 women across Maharashtra, Assam and Bihar. The initiative is built around SIDBI’s Prayaas Individual Enterprise Scheme (IES), a “credit for women, by women” model that provides collateral-free loans of ₹50,000 to ₹2 lakh to individual Self-Help Group (SHG) members through women-led community-based organisations. SIDBI has regularised the scheme and plans to expand it across existing and additional states.
According to NRLM data and WWB research, about 29.5 million SHG women are linked to model community organisations, including an estimated 7.39 million women entrepreneurs. Around 4.73 million of them are estimated to require individual loans of ₹50,000 to ₹5 lakh, creating a potential ₹65,800 crore lending opportunity. In Assam, the initiative could deepen formal credit access for women-led rural enterprises, particularly those operating through SHGs and community institutions. Greater access to collateral-free finance, digital lending and business capabilities could help women entrepreneurs expand businesses and strengthen local economic activity.
Joint Secretary-NRLM Amit Shukla said around 3.85 million women-led enterprises are seeking credit, representing a ₹12,388 crore opportunity in the ₹5 lakh-₹20 lakh segment. SIDBI Deputy Managing Director Prakash Kumar said the institution plans to reach more women micro-enterprises through Cluster Level Federations and State Rural Livelihood Missions.
