Loans for Unemployed

News about Loans for Unemployed

• Stand up India Scheme provides Loans to Entrepreneurs

  The Stand-up India Scheme for entrepreneurs from the SC, ST section of the society and women, has been quite a success in India, the numbers suggest. In 2016, the number of entrepreneurs who benefitted from this loan facility was 2,1735. The total quantum of loan sanctioned was Rs.4,747.95 crore. Percentage wise, the Scheduled Caste (SC) section received 15.05%, the Scheduled Tribe (ST) section received 4.28%, and female entrepreneurs got the lion’s share with 80.67% of the total loan sanctioned. The Scheme is designed to make possible that at least 2 loans (one to SC/ST, other to Woman entrepreneur) are sanctioned per bank branch of Scheduled Commercial Banks to set up Greenfield enterprises. No state-wise target has been specified under this Scheme.

  

  8 August 2016

• MP Government to provide loans to over 5 lakh young entrepreneurs

  Loans will be given to over 5 lakh youth as part of the PM Mudra Yojana and the CMs self-employment scheme, according to the MP Chief Minister, Shivraj Singh Chouhan. Young entrepreneurs will be given land in every district of the state. The Chief Minister was addressing a state level self-employment convention. The MP Laghu Udyog Nigam and Telexco.com have signed a MoU to offer e-marketing platforms to young entrepreneurs. Loans amounting to Rs.1 crore will be given to 10,000 individuals to start industrial units. This will be done as per the Mukhyamantri Yuva Udyami Yojana. Loans amounting to Rs. 50,000 will be given under the Mukhyamantri Arthik Kalyan Yojana. The loan limit under the Mukhyamantri Swarozgar Yojana will be incremented from Rs. 50,000 to Rs. 10 lakhs.

  

  21 July 2016

• Andhra Pradesh State Scheduled Castes Cooperative Finance Corporation will spend Rs. 1,101 crore for SC welfare

  For the welfare of the Scheduled Communities, the Andhra Pradesh State Scheduled Castes Cooperative Finance Corporation would be spending Rs. 1,101 crore in the near future. The Corporation would be providing employment to youth by purchasing 200 cabs that will be Government department hires. Lands will be bought by the Corporation in order to be given to landless families. The proposal has been submitted to the Chief Minister, N. Chandrababu Naidu for approval. Additionally, interest-free loans would be offered and employment along with skill development would be given to 1 lakh people. The Tirumala Tirupati Devasthanam board would also be asked to allocate 17% of the shops in Tirumala and Tirupati to SC youth.

  

  5 July 2016

• Telangana smart savings to help youth avail loans

  There has been a new scheme conceptualised by TS government to support unemployed youths in the quest to save money. By simply saving Rs 10 every day for six months, they can get Rs 1 lakh grant from the state government. This scheme is aimed at unemployed youths between the ages of 18 and 35 years. The amount thats disbursed by the government must be used to form youth groups and for self-employment. Further, an exclusive youth bank will be set up to benefit the youth. The youth bank has been inspired by and planned in the manner of œStree Nidhi Bank. Stree Nidhi Bank is a women's cooperative bank that has been hugely successful. It provides loans to women self-help groups (SHGs).

  

  11 May 2016

• Stand-up Indian scheme to be launched for women and SC/ST candidates

  Finance Minister, Arun Jaitley has announced that government is looking at launching the Stand-up India scheme which will offer loan of up to Rs.1 crore to members of the SC/ST community and to women to become big entrepreneurs. The scheme is set to be rolled in almost all major banks in the next few months. Under this scheme, one such woman and people from the SC/ST community can apply for a loan to start their own business. The ruling party is trying to enlarge its base by in Delhi through such schemes which focus on the women as well as the SC/ST vote bank.

  

  30 March 2016

• Draw of lots to select beneficiaries for bankable loan schemes

  There is likely to be a draw of lots to select the beneficiaries for various bankable loan schemes by the Telangana State Minorities Finance Corporation or the TSMFC. This schemes are being implemented in coordination with many banks. Around 1.50 lakh people have applied for various loans across the State. To avoid any favouritism the selection process of the beneficiaries will be done through lots which will be a computerised said the principal secretary Syed Omer Jaleel.

  

  15 March 2016

• 41 Youths get Loans for Self-employment in Tamil Nadu

  A total of 41 unemployed educated young persons in Nager coil were given a cumulative of Rs. 31.80 lakh as loan towards self-employment. The loans were provided in a special camp conducted by the District Industries Centre, as per the directions of Chief Minister Jayalalithaa. A target of Rs. 25 lakh has been fixed to extend loans to 50 more persons. The beneficiaries do not need to participate in training programmes and they can use their loan sanction letter to borrow from banks.

  

  1 February 2016

• Women can now avail Interest-Free Loans worth Rs.50,000 to Start Ventures

  Women who wish to venture out on their own and start their own businesses can avail Rs.50,000 from the government, and since half the amount is subsidy, repayment must be done only to the extent of Rs.25,000. The National Employment Service department will offer the interest-free loan as per Saranya “ a self-employment scheme that is designed to aid legally divorced women, unemployed widows, unmarried mothers, women abandoned by their husbands and single women who are over 30 years of age provided they have been registered in employment exchanges in Kerala.

  

  03 December 2015

• Skill Education for Graduates and Loan Opportunities for Unemployed “ Minority Corporation

  Karnataka Minorities Development Corporation (KMDC) is all set to train 10,000 unemployed graduates belonging to the minority communities. The highest concentration of minority communities is in the Udupi and Dakshina Kannada districts of Karnataka which will see special focus by the KMDC.

  The youth will be trained under the œDevelop India program. KMDC also plans to tie-up with various other institutes to popularize the program and provide training to the unemployed youth. The aim is to provide placements to about 70% of the youth that avail training under this program while the rest 30% is to be offered loans for starting of their own enterprises. KMDC also plans to offer subsidized loans to around 5000 minority students for taking up various engineering, medical and dental courses this year. Students who avail these loans will have to start repayment after completion of 6 months from the date of completion of course.

  

  14 September 2015