What is Deen Dayal Upadhyaya Swavalamban Yojana?
Deen Dayal Upadhyaya Swavalmban Yojana is a startup loan scheme initiated by the state government of Arunachal Pradesh. This scheme focuses on providing some financial assistance to startup loans in the form of subsidy. The main vision behind this scheme is to encourage unemployed youth to get engaged in entrepreneurship. The government pinpoints at providing low-cost capital for setting up new businesses. In the article, we will go through the complete details of Deen Dayal Swavalmban Yojana.
Highlights of Deen Dayal Swavalamban Yojana
Under this scheme, the government has crafted several provisions to facilitate the startup with funds. Some of the salient features are listed below:
- The subsidy given on loans can be used to set up either small or medium-sized enterprises.
- A loan amount ranging between 10 lakhs to 1 Crore will be given to support the youth startups.
- The potential candidate eligible for the subsidy must contribute a minimum of 10% of the total project cost. If the candidate contributes more than 10%, he/she will be given special preference by the authority.
- Interested women of the state will be given some add-on benefits in this scheme.
- The applicants are allowed to take a loan from any bank of their state as per the personal choice. Although, the approval of State Level Sanctioning Committee (SLSC) is compulsory.
- The state government of Arunachal Pradesh has also launched a social media portal to connect all the young entrepreneurs at a single platform.
Compulsory documents for registration in Deen Dayal Upadhyaya Yojana
The applicants must submit the below-mentioned documents to become eligible for Deen Dayal Yojana.
- Any proof of identity (Adhaar card, driving license, PAN card, Voter ID etc.)
- Any proof of residence (govt bills, tax receipt etc.)
- Proof of Business Address
- Caste certificate
Interest Rate and Subsidy Provided
The subsidised rate of the loan amount by the state government is 30%. The amount will be credited to the bank account of approved applicants through NABARD. Any woman applicant who is interested to be a part of this scheme will be provided with an additional 5% subsidy on the rate of interest annually.
AP Deen Dayal Swavalamban Yojana Application Form and Registration
Deen Dayal Swavalamban Yojana applications cannot be made through online mode. It can only be made offline. Follow the given steps to register for the same:
- Register yourself at www.standupmitra.in
- Check all the given DPR activities and prepare for one of the eligible activities.
- Download the application form from http://itanagar.nic.in/ or use this direct link.
- Fill up the details and submit the same in the office of ADC, HQ.
- Soon after the submission, receive a receipt of an acknowledgment from the office of ADC, HQ.
- Appear for District Level Screening Committee whenever called for. The DLSC (District Level Screening Committer) will forward the application to the SLSC (State Level Screening Committee). The screening will be done by SLSC on 1st of every month.
- After the approval of DLSC and SLSC, the applicant can submit their loan proposal for any bank.
Guidelines of Andhra Pradesh Swavalamban Yojana
The government has laid certain guidelines for DDUSY. You can download the pdf directly from here to know the guidelines.
Frequently Asked Questions:
How to get handholding support for Deen Dayal Swavalamban Yojana?
You can navigate through the portal of www.standupmitra.in to seek assistance and get help.
When will the process of sanctioning the loans begin?
All the deputy commissioners have already issued ample guidelines and now interested people can apply to DC’s office. The SLC meeting will be held on first Monday of every month to look into new proposals and review the sanction status of old proposals.
Which banks will give loans?
Any scheduled commercial banks like SBI, ICICI, HDFC, Canara Bank, Central Bank of India, Union Bank of India, Vijaya Bank and Bank of India.
What is DPR format for applying?
The format can be downloaded from here: http://www.itanagar.nic.in/scheme.html