Many have returned to their homelands where they lost their jobs in the wake of the corona. The Central and State Governments have come up with a number of schemes for the common people at a time when financial hardship and inability to go to work are making many people very miserable. Here is a loan assistance scheme of RS.5 lakh provided by the Central Government for starting a self-employment scheme. Let’s take a look at the features of such a loan assistance scheme, what are the ventures that can be done with this amount and who can be a part of the venture.
In the context of covid, Rs 5 lakh is being provided as financial assistance by the Central Government for the financially distressed people. Those who are eligible for financial assistance can submit applications before June 28. In the event of the death of the person, who provided the main source of income for the covid affected household, those families can avail the benefit of this one financial assistance scheme. The project is under the Central Department of Social Justice. Eligible persons belonging to OBC category can apply for the scheme. In Kerala, financial assistance of Rs.5 lakh is available through the State Backward Development Corporation.
The applicant should have an annual income of less than Rs 3 lakh. The age of the deceased should be below 60 years. Main income earner from the above families who die of covid can avail financial assistance. The money can be used to find a self-employment. About 80% of the proceeds will go to loans and the remaining 20% to subsidies. In other words, the subsidy amount is up to Rs. 1 lakh. The loan repayment period is 5 years. The interest rate is 6%. Those who are eligible to participate in this financial assistance scheme should submit their required documents before June 28 to www.ksbcdc.com can be registered through the website. You can get complete information from the website. You can also contact us at the phone number given below.
Contact number 0471-2577550
Individuals from eligible families whose family head has died due to covid can definitely avail the benefit of this one financial assistance scheme.