Karnataka Vrutti Protsaha Loan Scheme

Introduction

• Karnataka Government's Minorities Development Corporation Limited announced to start new entrepreneurship scheme for the year 2023-2024.
• The name of scheme is Vrutti Protsaha Loan Scheme.
• It is going to be started in the year 2023-2024.
• Karnataka Vrutti Protsaha Loan Scheme is started in place of Self Employment Scheme of Karnataka Government.
• Karnataka Self Employment Scheme provides subsidy on starting business activity in which 33% of Project Cost or maximum amount of Rs. 1,00,000/- as a subsidy were provided.
• But now from the year 2023-2024, Vrutti Protsaha Loan Scheme replaced the Self Employment Scheme of Karnataka.
• The main objective behind starting Vrutti Protsaha Loan Scheme is to support the unemployed youth or new entrepreneurs to start their own income generation activity.
• Karnataka Minorities Development Corporation Limited is the implementing agency of this scheme.
• A Collateral Free Loan of Rs. 1,00,000/- will be provided to all eligible beneficiaries under Vrutti Protsaha Loan Scheme of Government of Karnataka.
• This loan is being provided to undertake various economic activities like :-
  • Agro Based Activities.
  • Starting New Business.
  • Developing New Business.
  • Service Sector.
  • Small Scale Industries.
  • Any Self Employment Generation Activity.
• Government of Karnataka will provide subsidy on loans taken under Vrutti Protsaha Loan Scheme.
• Beneficiary will have to return only half amount of loan i.e Rs. 50,000/-.
• The other half of Rs. 50,000/- will be paid by the Government of Karnataka as a Subsidy under Vrutti Protsaha Loan Scheme.
• Loan under Vrutti Protsaha Loan Scheme will only provided to those beneficiaries who belongs to Minority Community.
• The Annual Family Income Criteria for Beneficiaries under this scheme is Rs. 81,000/- per year in Rural Area and Rs. 1,03,000/- per year in Urban Area.
• Beneficiary from the Age Group of 18 Years to 55 Years are only eligible to apply for loan under Vrutti Protsaha Loan Scheme.
• The last date to apply for loan subsidy of Karnataka under Vrutti Protsaha Loan Scheme is 03-10-2023.
• Eligible Beneficiary can apply to avail the benefit of Vrutti Protsaha Loan Scheme on or before 3rd of October 2023.
• Online Application Form of Vrutti Protsaha Loan Scheme is available on KMDCL Online Application Management Portal.

Benefits

• Karnataka Government will provide the following benefits to all selected beneficiaries under Karnataka Vrutti Protsaha Loan Scheme :-
  • Collateral Free Loan of Rs. 1,00,000/- will be Provided.
  • Beneficiary only have to Pay the 50% Amount of Loan i.e. 50,000/-.
  • Remaining 50,000/- will be Paid by Karnataka Government as 50% Subsidy.
  • No Collateral Security is Required.

Eligibility

• Beneficiary should be Permanent Resident of Karnataka.
• The Annual Family Income of Applicant should be :-
  • Rs. 1,03,000/- in Urban Area.
  • Rs. 81,000/- in Rural Area.
• The Age of Beneficiary should be between 18 Years to 55 Years.
• Applicant should not be a Beneficiary of any other KMDCL Scheme.
• Beneficiary should belong to any one of the minority community :-
  • Muslims.
  • Buddhism.
  • Sikhs.
  • Christians.
  • Jains.
  • Parsis.

Document Required

• The following documents is required to be uploaded online at the time of applying for Karnataka Government's Vrutti Protsaha Loan Scheme :-
  • Residence Proof of Karnataka.
  • Aadhar Card.
  • Project Report.
  • Passport Size Photo.
  • Caste Certificate.
  • Income Certificate.
  • Age Proof.
  • Minority Certificate.
  • Bank Account Details.
  • Self Declaration Form.

How to Apply

• Minority Community Applicant can apply for Vrutti Protsaha Loan Scheme of Karnataka Government by filling Online Application Form.
• Online Application Form of Karnataka Vrutti Protsaha Loan Scheme is available on KMDCL Online Application Management Portal.
• Mobile Number and Aadhar Card is mandatory at the time of apply.
• Enter the Mobile Number and Click on Submit to verify it.
• KMDCL Portal will Verify the Mobile Number and Aadhar Card of Applicant through OTP Verification.
• Now Select Vrutti Protsaha Loan Scheme from scheme list once the OTP verification is done.
• Click on Apply Online and Fill the following details step wise in Vrutti Protsaha Loan Scheme Online Application Form :-
  • Applicant Details.
  • Project Report/ Details.
  • Bank Account Details.
  • Documents Upload.
  • Preview the Form.
• Preview the Application Form thoroughly and then Click on Submit Button to Submit the Application Form of Vrutti Protsaha Loan Scheme.
• Application Form and Documents will be scrutinized throughly by the selection panel.
• Selection Panel will announce the final list of Eligible Applicant who are selected for loan subsidy under Vrutti Protsaha Loan Scheme of Karnataka Government.
• List of Selected Beneficiary will then forwarded to bank for sanctioning of loan for remaining 50% amount.
• Applicant can also check the Application Status of Karnataka Vrutti Protsaha Loan Scheme Online.
• KMDCL Online Application Management Portal is open for Vrutti Protsaha Loan Scheme till 03-10-2023.
• Eligible Beneficiary can apply for loan subsidy under Vrutti Protsaha Loan Scheme on or before 03-10-2023.

Important Forms

• Karnataka Vruttti Protsaha Loan Scheme Self Declaration Form.

Important Links

• Karnataka Vrutti Protsaha Loan Scheme Online Application Form.
• Karnataka Vrutti Protsaha Loan Scheme Registration.
• Karnataka Vrutti Protsaha Loan Scheme Application Status.
• Karnataka Minorities Development Corporation Limited Portal.
• Karnataka Vrutti Protsaha Loan Scheme Guidelines.
• Karnataka Minorities Development Corporation Limited App.
• Karnataka Minorities Development Corporation Limited District Office Contact Numbers.

Contact Details

• Karnataka Minorities Development Corporation Limited WhatsApp Helpline :- 08277799990.
• Karnataka Minorities Development Corporation Limited Helpline Number :- 080-22860999.
• Karnataka Minorities Development Corporation Limited Helpdesk Email :-
  • kmdc.ho.info@karnataka.gov.in.
  • info.kmdc@karnataka.gov.in.
• Karnataka Minorities Department Corporation Limited,
  No. 39-821, Subedhar Chatra Road,
  Sheshadripuram, Bengaluru,
  Karnataka - 5660001.