This scheme was initiated for motivating the educated unemployed to establish and operate an industry or business by providing them with financial guidance. This scheme was launched in all districts of the country has a population of less than 10 lakh. It was implemented in every district by the “District Industrial Centre”, and banks that provide the necessary loans.
The main features of this scheme are –
- The person should be minimum a matriculate.
- Candidates are selected and trained after being chosen by a committee at the district industrial centre.
- Banks are sent a recommendation for loans.
- Loan up to 1 lakh for industry and * 75000 for business is sanctioned.
- The loans can be repaid within 3 to 7 years.
- Loan instalments are to be paid starting after 18 months.