UP Government Offering Loans up to ₹10 Lakh with Interest Subsidy- Know How to Apply

The Uttar Pradesh government has launched a significant scheme to provide excellent employment opportunities for rural youth. Under this scheme, eligible young individuals can avail loans of up to ₹10 lakh, with the government offering interest subsidies. The scheme is being implemented through the Khadi and Village Industries Board, UP Small Industries Corporation, and various other government and non-government organizations.

Financial Assistance for Business & Skill Development:

Senior Joint Chief Executive Officer of the Uttar Pradesh Khadi and Village Industries Board, N.P. Maurya, stated that this initiative aims to help unemployed youth in rural areas establish their own businesses, ultimately boosting employment opportunities across the state.

Under this scheme, financial assistance will be provided for setting up businesses in sectors such as agriculture-based industries, handicrafts, handloom, khadi, and other rural industries. Apart from financial aid, beneficiaries will also receive training to develop essential business skills. The initiative is expected to not only generate employment but also contribute to the overall economic growth of the state.

Eligibility Criteria:

1. Applicants must be between 18 and 45 years of age.
2. At least 50% of the beneficiaries will be selected from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC).
3. Preference will be given to industries that cater to the daily needs of local consumers.

Required Documents for Application:

1. Aadhaar Card
2. Educational Certificates
3. Certificate issued by the Gram Pradhan/Village Panchayat Officer
4. Technical Qualification Certificate (if applicable)
5. Verification Certificate
6. PAN Card

How to Apply Online?

1. Visit the official website (https://mmgrykhadi.upsdc.gov.in/).
2. Fill out the application form with details like name, father's/husband's name, business details, address, workplace address, age, qualification, and annual family income.
3. Click the Submit button after entering all the required information.
4. Upload the necessary documents and finalize the application submission.
5. The application will then be reviewed by the district nodal officer, and upon approval, the loan will be disbursed to the beneficiary.