The Karnataka government has introduced the Shrama Shakti Scheme 2023 to empower the minority community in the state. This initiative provides low-interest financing (4 to 5 percent) and skill training to minorities, encouraging them to kickstart their entrepreneurial journey. This article breaks down the key details of the Shrama Shakti Loan Scheme, including its objectives, benefits, eligibility criteria, required documents, application process, reward details, and contact information.
Shrama Shakti Scheme 2023
- Scheme Name: Shrama Shakti Scheme 2023
- Initiated By: Government of Karnataka
- State: Karnataka
- Objective: Encourage unemployed youth to start their businesses
- Benefits: Financial loan up to Rs. 50,000 at 4 percent interest
- Official Website: Karnataka Minorities Development Corporation Limited
Objective of the Shrama Shakti Scheme
The primary goal of the Shrama Shakti Scheme is to inspire unemployed youth in Karnataka, particularly from minority groups, to initiate their businesses or entrepreneurial ventures. The Karnataka Minorities Development Corporation Limited administers this project, providing financial assistance in the form of a loan of Rs. 50,000, repayable within 36 months.
Benefits of Karnataka Shrama Shakti Scheme
- Financial loans of Rs. 50,000 for minority entrepreneurs, repayable in 36 months.
- Skill training in technical or artistic fields.
- Additional 4% interest on the loan amount.
- A back-end subsidy of Rs. 25,000 if half of the funding is returned by the candidate.
Eligibility Criteria
Applicants must meet the following criteria:
- Permanent residency in Karnataka.
- Age between 18 and 55 years, with an annual income not exceeding Rs. 3.50 lakh.
- Belonging to a minority group (Buddhist, Muslim, Christian, Jain, Sikh, Parsi).
- No family member should work for the Central, State, or Government Sector Unit.
- No history of defaulting on KMDC loans.
- No family member should have benefited from other KMDCL programs in the last five years (except the Arivu Scheme).
Required Documents
- Passport-size photo
- Aadhaar card
- Income certificate
- Project report
- Surety self-declaration form
- Self-declaration form
- Bank account details
- Residence proof of Karnataka
- Online application form
- Caste certificate
- Minority certificate
Steps to Apply for Karnataka Shrama Shakti Scheme 2023
- Visit the official website of Karnataka Minorities Development Corporation Limited.
- Navigate to the “Schemes” section and select “Shrama Shakti Loan Scheme.”
- Read the information carefully and click on “e-services” followed by “Online Application.”
- Fill in the application form with necessary details.
- Verify your mobile number and submit the form.
- Print the application form and attach required documents.
- Submit the form to the District Selection Panel.
Details of the Shrama Shakti Scheme Reward
- Financial loans of Rs. 50,000, repayable in 36 months.
- Back-end subsidy of Rs. 25,000 if half of the funding is returned.
- Additional 4% interest on the total loan amount.
Contact Details
For inquiries or complaints related to the Shrama Shakti Scheme, contact:
- Address: 39-821, 2nd Floor, KMDC BHAVAN, Subedar Chatram Road, Sheshadripuram, Bengaluru – 560020, Karnataka.
- Phone Numbers: 080-22860999 & 080-22861226
- Email: kmdc.ho.info@gmail.com
By simplifying the information, we aim to make the Karnataka Shrama Shakti Scheme easily understandable for all.
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