Mukhyamantri Swarojgar yojna

Under the scheme, loans and margin money are provided through banks to set up their own industry / service / business for the youth of backward class and minority category.

Project Cost: –
Loan amount is provided from Rs. 50,000 to maximum of Rs. 10.00 Lakh.

Margin Money: –
30% of the project cost (maximum 2.00 lakhs)

Interest grant: –
At the rate of 5 percent of the project cost (maximum amount of Rs. 25,000 (per annum)) the grant will be provided for a maximum period of 7 years.

Beneficiary:

The applicant must be a backward class. It is mandatory for the applicant to be a native of Madhya Pradesh. Applicant must have passed minimum class 5th. Applicants must be between 18 and 45 years of age. The applicant should not be a defaulter of any nationalized bank / financial institution / co-operative bank. The applicant should not have received any loan and grant under any government scheme earlier. The applicant will be eligible for loan once under the scheme.

Benefits:

Photocopying, photography, offset printing work, auto and motorcycle repairing, electrical and electronics house hold repairing, heavy vehicle repairing, tire repairing, tent houses, etc.