Mukhyamantri Loan Yojana: Self-employment opportunity for youth

Mukhyamantri Loan Scheme , also known as Mukhyamantri Yuva Swarozgar Yojana or Mukhyamantri Udyami Yojana in various states , is an initiative launched by the Government of India to provide assistance to youth in setting up self-employment. Under this scheme, youth are provided loans at concessional interest rates so that they can start their own business or expand the existing business.

DEAR 500

Benefits of Mukhyamantri Loan Scheme:

  • Employment Generation: This scheme helps in providing employment opportunities to the youth, thereby reducing the unemployment rate.
  • Economic Development: New businesses started by youth boost the economic development of the state.
  • Self-reliance: This scheme helps the youth to become self-reliant and earn their livelihood.

Eligibility for Mukhyamantri Loan :

  • Age: The age of the applicant should be between 18 to 40 years.
  • Residence: The applicant must be a permanent resident of the state.
  • Educational Qualification: Minimum high school pass is required.
  • Income: The family income limit of the applicant has been fixed, which may vary according to the state.
  • Others: The applicant should not be a defaulter of any bank.

Application Procedure for Mukhyamantri Loan Scheme :

  • Online Application: Applicants can apply online on the official website of the concerned state government.
  • Offline Application: Applicants can also obtain offline application form from the concerned District Industry and Business Promotion Office.

Documents required for Mukhyamantri Loan Scheme :

  • Aadhar card
  • PAN card
  • Address proof
  • educational qualification certificate
  • Caste Certificate (if applicable)
  • I Certificate
  • Business plan
  • passport size photo

Selection Procedure of Mukhyamantri Loan Scheme :

  • Scrutiny of Applications: The applications received are scrutinized by the concerned department.
  • Evaluation of Eligibility: Eligibility of applicants is evaluated on the basis of prescribed criteria.
  • Merit List: Merit list of eligible applicants is prepared.
  • Loan Sanction: On the basis of merit list, loan is sanctioned to the applicants.

Loan Terms of Mukhyamantri Loan Scheme :

  • Loan amount: Loan amount varies by state and type of business.
  • Interest Rate: The interest rate is concessional and is determined by the bank.
  • Repayment period: The loan repayment period is usually 5 to 7 years.

Mukhyamantri Loan Scheme is a beneficial scheme for the youth who want to start their own business. If you are eligible for this scheme, you should definitely apply.

Additional Information:

  • For more information related to the scheme, you can visit the official website of the concerned state government or contact the District Industry and Business Promotion Office.
  • You can also visit www.meity.gov.in to get information about various government schemes .

It is important to note that the schemes and their terms may vary as per the state governments.

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