Recently Odisha Government has Launched Odisha 1 Lakh Interest Free Loan Scheme For the Citizen of Odisha. The state cabinet today approved a new scheme called ‘SWAYAM’ to involve the youth of Odisha’s urban and rural areas in the new renaissance in the industrial and commercial sectors of the state. By offering interest-free loans, the scheme aims to alleviate financial barriers that often deter young entrepreneurs from pursuing their business ideas. This support is expected to encourage more youth to venture into entrepreneurship and contribute to the economic growth of the state. If you want know about this scheme so You have to read the entire article carefully
Odisha 1 Lakh Interest Free Loan Scheme
The state government aims to involve 1 lakh eligible youth in the initial phase of the scheme. To support this initiative, a substantial budget of Rs 448 crore has been allocated from the state’s budget. ‘SWAYAM’ has the potential to create a ripple effect in the economy by fostering a culture of entrepreneurship, job creation, and economic development, particularly in Odisha’s industrial and commercial sectors.
Objective of 1 Lakh Interest Free Loan Scheme
The Main Objective is to Provide Odisha 1 Lakh Interest Free Loan to the people of Odisha. The scheme targets youth from both urban and rural areas of Odisha, ensuring inclusivity and participation from diverse backgrounds.
Key Highlights of Free Interest Loan Scheme
|1 Lakh Interest Free Loan Scheme
|By Odisha Govt
Benefits of 1 Lakh Interest Free Loan Scheme
- If one member of a family avails of the benefits of the ‘SWAYAM’ scheme, other members of the same family will be ineligible to apply.
- This provision prevents multiple members of the same family from accessing the scheme, ensuring broader distribution of resources among eligible individuals and families.
- The primary aim of the ‘SWAYAM’ scheme is to empower young men and women.
- young men and women aged between 18 and 35 years by providing them with interest-free bank loans of up to 1 lakh to kickstart their own businesses
- Aspirants must be have from Odisha
The list of the required documents of the scheme is given below:
- Aadhaar Card
- Voter ID
- Address Proof
- Caste Certificate
- PAN Card
- Domicile Certificate
Application Process For Odisha 1 Lakh Interest Free Loan Scheme
Applicants must carefully fill out the application form, providing accurate information about themselves, their business idea, and any other required details. They may need to attach supporting documents such as identity proof, age proof, address proof, and any other documents specified in the application guidelines.