Odisha Chief Minister Naveen Patnaik has introduced the SWAYAM scheme, which aims to provide financial support to ration cardholders and offer interest-free loans to unemployed youth. This initiative, primarily targeting rural areas, offers interest-free bank loans of up to Rs 1 lakh to young entrepreneurs and unemployed individuals.
Here are the full details of the SWAYAM scheme, including eligibility, benefits, and application process.
What Is SWAYAM Scheme?
The SWAYAM Scheme, officially known as Swathantra Yuva Udyami, offers interest-free loans of up to Rs 1 lakh to empower the youth in Odisha. Additionally, Rs 1,000 in livelihood assistance will be distributed to PDS beneficiary families.
Who Can Apply For SWAYAM Scheme?
Young individuals aged 18 to 35, residing in Odisha and holding a ration card, are eligible to apply for interest-free bank loans under SWAYAM. The scheme caters to unemployed youths or aspiring entrepreneurs within the specified age group who wish to start or expand their business ventures. Note: Applicants should not have previously raised loans from other central and state government schemes.
How To Apply For SWAYAM Scheme?
Eligible individuals can visit the Government of Odisha’s SWAYAM scheme portal and complete the registration online with basic details and necessary documents.
Benefits of SWAYAM Scheme
The government provides Rs 1,000 as livelihood assistance to PDS beneficiary families.
1 lakh qualified individuals from both rural and urban areas, aged 18 to 35 years, will receive interest-free loans of up to Rs 1 lakh to start their businesses.
