The Karnataka government has launched an innovative loan scheme called ‘Vruti Protsha’ to help unemployed youth in the state find self-employment. Under this scheme, unemployed youth who have completed vocational courses will be provided with loan facilities at heavily subsidized rates to start their own businesses or start-ups.
Key features of the scheme:
Loan amount: Eligible candidates will be given a maximum loan of ₹5 lakh.
Subsidy: The government will provide a substantial subsidy on the total loan amount, ensuring that it does not become a financial burden on the beneficiaries.
Objective: To encourage graduates of various professional degrees including engineering, medicine, nursing to start their own clinics, consultancies or small industries.
What are the eligibility criteria?
To avail the benefits of this scheme, applicants must meet the following criteria:
Resident: The candidate must be a permanent resident of Karnataka.
Educational qualification: Must have completed a professional degree or diploma from a recognized university.
Age limit: Generally, candidates between the ages of 18 and 45 can apply.
Income limit: The annual income of the candidate’s family should be within the government’s prescribed limit (usually between ₹2 lakh and ₹5 lakh).
Required Documents:
Aadhar Card
Caste and Income Certificate
Professional Degree/Diploma Marksheet and Certificate
Bank Passbook Copy
Project Report (Details of the job you intend to do)
How to Apply?
Eligible candidates can apply online through the official Seva Sindhu portal of the Government of Karnataka or the website of the concerned corporations (e.g. D. Devaraja Urs Backward Classes Development Corporation or Scheduled Castes/Tribes Development Corporation).
Note: There may be changes in the subsidy amount and eligibility based on the guidelines issued by the government from time to time. For more information, you can contact the District Industries Centre (DIC) of your district or the office of the concerned corporation.