Government is giving loans ranging from Rs 10 lakh to Rs 1 crore

Government is giving loans ranging from Rs 10 lakh to Rs 1 crore

There is a plan to promote entrepreneurship at the grassroots level under the Central Government's Start Up India scheme. It has the facility to give loans to women ranging from Rs 10 lakh to Rs 1 crore. The objective of the scheme is to increase economic empowerment by increasing employment opportunities. The Startup India scheme was launched in the year 2016. Women and people belonging to Scheduled Castes and Scheduled Tribes, who have the potential to become entrepreneurs but do not get the opportunity to move forward due to financial constraints, get benefits under this scheme.

Loans at a rate lower than the market rate

This assistance is provided at an interest rate lower than the market rate. Under this scheme, all branches of the commercial bank are required to provide loans ranging from 10 lakh to 1 crore rupees to a Scheduled Caste or Scheduled Tribe beneficiary and a woman. The biggest beneficiaries of this government scheme are women.

16712 crore loan sanctioned in four years

Last month, the government gave information about the loans given under the scheme in the last 4 years. Under this scheme, a loan of about Rs 16,712 crore has been sanctioned over four years. 81% of the beneficiaries are women. If you want to start your own business or start a new one then you can apply for a loan under this scheme.

Apply for loan this way

You can apply for the loan directly at the bank branch through Startup India portal, using the Leading District Manager (LDM). For this, you have to provide your identity card, caste certificate, PAN card, bank account information. Gender certificate is not required for women. The applicant must be at least 18 years of age to avail a loan under this scheme. In addition, the applicant must submit a project report for the loan.

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