
Highlights
- Loans up to Rs 50,000 will be provided to start their business.
- The loan is collateral-free.
- Loan also offers a 7% interest grant.
- The loan will be offered for a maximum period of 36 months.
Customer Care
- Rajasthan Local Self Govt Department Phone Number: 0141-2226722
- Email Helpdesk: dlb.lsg@rajasthan.gov.in
Information Brochure
Summary of the Scheme | |
---|---|
Name of the Scheme | Rajasthan Mukhyamantri Svanidhi Yojana |
Launch Year | 2024 |
Benefits |
|
Beneficiary | Rajasthan Unorganised Sector Workers |
Nodal Department | Local Self Government Department. |
Subscription | Subscribe here to get Update Regarding Scheme |
Mode of Apply | Online through Rajasthan SSO Portal. |
Scheme Introduction: A Brief Overview
- The Rajasthan Government is continuously making efforts to provide necessary support to the vulnerable families.
- For this, they have started several initiatives to offer economic support.
- Recently, the government has started a new scheme called "Mukhyamantri Svanidhi Scheme".
- This scheme is different to the central government "PM Svanidhi Scheme", which provides financial support to unorganised street vendors.
- However, the PM Svanidhi Yojana doesn't provide support to various unorganised sector workers as they were not eligible.
- In order to fill this gap, the state government launched the Mukhyamantri Svanidhi Scheme.
- Under this scheme, the state government is distributing loans through Nationalised Commercial Banks, Gramin Banks, Private Sector Banks, and Scheduled Small Banks.
- The primary objective of the scheme is: -
- To provide easy loan facilities to needy and vulnerable urban families.
- To increase the capital flow in small businesses and enterprises.
- To encourage self-reliance among the underprivileged.
- The Rajasthan Chief Minister Svanidhi Yojana offers collateral-free, subsidised loans in three phases: -
- In Phase 1, the beneficiary will be granted a loan of Rs 10,000/- for 12 months.
- In Phase 2, the beneficiary will get a Rs 20000 loan for a period of 18 months.
- In Phase 3, beneficiaries will get Rs 50,000 for 36 months.
- The state government will provide a 7% percent interest subsidy on these loans.
- However, the interest subsidy will only be provided if the applicant repays the loan amount within the given schedule.
- The benefit of the scheme will be provided to needy and vulnerable families of the unorganised service sector, including: -
- Gig Workers.
- Transport Worker.
- Domestic Worker.
- Construction Worker.
- Hawkers.
- Waster Workers.
- Rag pickers.
- Artisans.
- To avail of the scheme benefits, the beneficiaries must meet its eligibility criteria (discussed in a later section).
- The loan provided under the scheme is collateral-free, which means beneficiaries are not required to submit any security.
- Application of Mukhyamantri Svanidhi Yojana can be submitted online through the SSO Portal.
- Post scrutiny, the eligible applications will be forwarded online to the concerned bank.
- The bank will approve and disburse the loan in the given time period.
Scheme Benefits
- Beneficiaries will receive a loan to start their business.
- The loan will be provided in three phases.
- The loan will be provided for a maximum duration of 36 months.
- The government will provide a 7% grant on the loan interest rate.
- The loan provided is collateral-free.
Phase | Loan Amount (in Rs) | Loan Tenure |
---|---|---|
Phase 1 | 10,000 | 12 Months |
Phase 2 | 20,000 | 18 months |
Phase 3 | 50,000 | 36 months |
Eligibility Requirement
- The applicant must be a domiciled resident of Rajasthan.
- Age should be between 18 and 60 years.
- Must have a valid license/ Permit/ Letter of Recommendation (LOR) from the concerned department.
- Beneficiaries who are not entitled to the benefit of the PM Svanidhi Scheme.
Required Documents
- Janaadhaar Card.
- Aadhaar Card.
- Identity Proof.
- Address Proof.
- License/ Letter or Recommendation (LOR)
Steps to Apply
- The Rajasthan Mukhyamantri Svanidhi Yojana application form can be submitted online.
- Its online applications are available at the Rajasthan SSO Portal.
- Fill out the form carefully and share all mandatory details.
- Upload the required documents to their designated place in the given size and format only.
- Preview the duly filled-in application form before final submission.
- Once submitted, the application will be sent to the officials for verification.
- Post successful verification, the application will be forwarded to the concerned banks.
- After reviewing the applications, the bank will disburse the loan amount within the scheduled time.
Important Points
- The loan amount under the scheme will be credited to the applicant's bank account within two weeks.
- If the loan is not repaid within the allotted time, applicants need to pay a penalty as per banking rules.
- The account can only be closed after six months from the date of loan disbursal, if the loan amount is fully repaid.
- The interest subsidy will be credited to the applicant's bank account directly. The request will be made by the bank every six months.
Relevant Link
- Rajasthan Mukhyamantri Svanidhi Scheme Online Apply.
- Rajasthan Chief Minister Svanidhi Yojana Guidelines.
Contact Information
- Rajasthan Local Self Govt Department Phone Number: 0141-2226722
- Email Helpdesk: dlb.lsg@rajasthan.gov.in
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