Interest Free Loan : The government of India administers a variety of projects for the country’s citizens. These projects benefit millions of individuals throughout the country. Aside from the central government, the governments of the country’s many states operate a variety of initiatives for its citizens.
The Uttar Pradesh government has lately launched a new plan for its citizens. Under this initiative, the government provides these state residents with a loan of up to Rs 5 lakh without interest.
Let me explain what this initiative is and who is eligible for interest free loan from the government.
The UP government will provide a loan to begin employment.
The youngsters of Uttar Pradesh have received very wonderful news. The Uttar Pradesh government’s MSME department has initiated a new project. Its name is the Mukhyamantri Yuva Udyami Vikas Abhiyan. Under this program, the government provides youth with interest-free loans for work. Under this scheme, the government will provide a loan of up to Rs 5 lakh without interest or guarantee to establish an industry in Uttar Pradesh. Which will be granted for four years. For this program, the government has stationed a team of economic specialists in each district. This team consists of chartered accountants and bank officials. We would like to inform you that this plan began on January 24.
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How do I apply for the scheme?
To apply for the Mukhyamantri Yuva Udyami Vikas Abhiyan, please visit the Uttar Pradesh government’s official MSME website at https://msme.up.gov.in If you can’t decide what kind of business to start, the government will help you. Let us tell you that this website additionally provides 400 project reports and 600 business ideas. By looking at them, you can begin your business.
These persons would receive a loan of Rs ten lakh.
Let us tell you that in order to qualify for a loan under this plan, you must have completed at least the eighth grade. However, applicants who have passed the 10th grade will be given preference in receiving the scheme’s advantages. And those who successfully repay the Rs 5 lakh loan within four years will be offered a loan of up to Rs 10 lakh with 50% interest eliminated.
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