Mukhyamantri Laghu Udhyog Protsahan Yojana

Objectives

This scheme has been launched with the objective of providing subsidized loans through Financial institutions to facilitate the establishment of enterprises in the state and to provide new employment opportunities to all sections of society.

Financial Institutions

Under the scheme, loans will be provided for manufacturing, service and business enterprises through financial institutions like (Nationalized Commercial Bank, Private Sector Scheduled Commercial Bank, Scheduled Small Finance Bank, Regional Rural Bank, Rajasthan Financial Corporation, SIDBI and Urban Cooperative Banks).

Type of Enterprise

Along with newly established enterprises, the pre-established enterprises will also be eligible for expansion/diversification/modernization projects.

Applicants

Under the scheme, Individual applicants, as well as institutional applicants (self-help groups/societies/partnership firms / LLP firms/companies), will also be eligible. The establishment of the enterprise under the scheme will be Rajasthan State. The minimum age of the individual applicant shall be 18 years.

Loan Amount

Under the scheme, loans up to Rs. 10 crores will be available for new Manufacturing and Service Enterprises and Rs. 1 Crore for units going for expansion/diversification/ modernisation. The maximum limit of loan for business will be Rs. 1 crore. The nature of the loan will be a composite loan, term loan and working capital (including CC Limit). As per RBI guidelines, collateral security will not be needed on loans up to Rs. 10 lakh.

Interest Subsidy

The Interest Subsidy will be granted to the beneficiaries on the loan provided by banks which will be payable as follows for five years:

Process

Under the scheme, the applications will have to be submitted online, whose process will be according to the guidelines prescribed for the implementation of the Scheme. Loan applications up to Rs. 10 lakh can be forwarded directly to the banks without any interview and the loans above Rs. 10 lakh will be forwarded to the bank after being scrutinized by the District Level Task Force Committee.

Online Application

For an online application, you can go to the link https://sso.rajasthan.gov.in and go to the Citizen App and apply for the scheme on MLUPY Icon.

Source: Govt of Rajasthan Commissioner Industries