Bihar Mukhyamantri SC / ST Udyami Yojana 2018 | 10 Lakh Assistance Scheme

Bihar Mukhyamantri SC / ST Udyami Yojana 2018

Bihar Mukhyamantri SC / ST Udyami Yojana 2018

The state government will provide this financial assistance in such a way that half of the amount would be given as subsidy and rest as interest free loans. Apart from this, the government will also give the facility of installments for the loan repayment. Under this facility, the beneficiaries can repay their loan in 84 simple installments starting after the functioning of their new business.

Bihar Mukhyamantri SC / ST Udyami Yojana 2018

The minimum qualification required under this scheme is Intermediate (Class 10th) for SC / ST aspirants. Here are the important features and highlights of Bihar Mukhyamantri SC / ST Udyami Yojana 2018 –

    • Under this scheme, the state government will provide Upto 10 lakh Financial Assistance to the eligible beneficiaries.
    • Of 10 Lakh Loan, Rs. 5 lakh would be given as Subsidy and Rs. 5 Lakh as Loan amount to the SC / ST entrepreneurs.
    • There will be no interest charge on the Loan amount. It means that Rs. 5 Lakh Loan will be completely Interest-free
    • Apart from this, the state government will also provide the loan repayment facility to the beneficiaries under Mukhyamantri SC / ST Udyami Yojana. According to this facility, the entrepreneurs will have to make loan repayment in 84 equal installments.
    • Besides this, the Repayment installment will start only after the proposed industry or trade starts its operation.
    • The state government has also simplified the process to avail Interest Free Loans. Now, these loans will now be granted on Self Declaration by the beneficiary from any Nationalized banks.
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