Karnataka Kayaka Yojana 2023 Karnataka Kayaka Yojana is a recently launched initiative by the Karnataka state government, aimed at boosting the growth of self-help groups (SHGs) across the state. This program offers interest-free loans to these groups through cooperative sector banks. Here, we delve into the scheme’s key details, eligibility criteria, benefits, and application procedure.
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Karnataka Kayaka Yojana 2023 Details
- Name of the Scheme: Karnataka Kayaka Yojana
- Launched Date: January 2021
- Launched by: Karnataka State Govt.
- Inaugurated By: Karnataka CM HD Kumaraswamy
- Application Method: Online
- Loan Amount: Variable
- Interest Rate: Up to 5 Lakhs – 0%, Above 10 Lakhs – 4%
Karnataka Kayaka Yojana Objectives
The primary objectives of the program are:
- Financially support women and self-help groups
- Create avenues for self-employment
- Strengthen SHGs and enhance women’s agency
- Improve the financial situations of SHG members
- Simplify access to bank loans for SHGs
Karnataka Kayaka Yojana 2023 Benefits
Under this scheme:
- Women and SHGs receive governmental support for self-employment, leading to increased job opportunities.
- SHG members can elevate their financial status through financial aid provided by the program.
- The scheme offers loans to women at no interest, a major advantage.
- Loans up to Rs. 5 Lakhs carry no interest, while those between Rs. 5 Lakhs and Rs. 10 Lakhs bear a 4% interest rate.
- Applicants can acquire loans from state-designated cooperative banks.
- The loan quantum ranges from one to ten Lakh Indian rupees.
- The state government plans to purchase finished products from SHGs, ensuring a steady income stream for successful applicants.
Karnataka Kayaka Yojana Eligibility
Eligibility criteria for the scheme include:
- Applicants must be permanent residents of Karnataka.
- Participants of Self Help Groups (SHGs) are eligible to apply.
- All candidate-approved SHGs within Karnataka are welcome to participate.
- Household monthly income should not exceed Rs. 20,000 for eligibility.
Yojana Documents
Required documents for the scheme:
- Residency certificate of the applicant
- ID Proof (e.g., Aadhar card)
- Bank account details
- Membership certificate for Self-Help Groups
- Income certificate
- Candidate’s photograph
Karnataka Kayaka Yojana Applying Procedure
- Interested candidates and SHGs must register on the official website to participate.
- The online form will be available once registration is completed.
- Specifics about the enrollment process will be provided by the state administration when available.
- Upon preliminary registration, the loan amount will be credited to separate bank accounts.
Karnataka Kayaka Yojana 2023 FAQs:
1. What is Karnataka Kayaka Yojana?
Karnataka Kayaka Yojana is a state initiative that offers interest-free loans to women and self-help groups to promote self-employment and strengthen the financial well-being of its participants.
2. Who can apply for this scheme?
Permanent residents of Karnataka who are members of candidate-approved Self Help Groups (SHGs) with a household monthly income below Rs. 20,000 are eligible to apply.
3. What are the benefits of the scheme?
Participants gain access to interest-free loans, support for self-employment, improved financial situations, and a reliable income stream from the state government’s purchase of their products.
4. How can I apply for the Karnataka Kayaka Yojana?
Interested candidates and SHGs need to register on the official website of the scheme. Once registered, the online application form will be made available.
5. What is the loan quantum and interest rate?
Loans range from one to ten lakh Indian rupees. Loans up to Rs. 5 lakhs are interest-free, while those between Rs. 5 lakhs and Rs. 10 lakhs carry a 4% interest rate.
6. When was the Karnataka Kayaka Yojana launched?
The scheme was launched in January 2021 by the Karnataka State Government, inaugurated by Chief Minister HD Kumaraswamy.
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