Karnataka Shrama Shakti Scheme 2024 – Apply for Loan, Eligibility

Shrama Shakti Scheme – For the benefit of the minority community in the state, the Karnataka government has unveiled the Shrama Shakti Scheme 2024. The government would give low-interest financing (4 to 5 percent) and skill training to members of the minority class under this program, enabling them to start their businesses. The Karnataka Chief Minister presented this initiative. The start of this plan was July 2023. Members of minority groups will receive skill training from the government in several categories under this program. Read below to check the detailed information related to the Shrama Shakti Loan Scheme like Highlights, Objectives, Benefits, Eligibility Criteria, Required Documents, Steps to Apply for the Scheme, Details of Reward, and much more.

Karnataka

Karnataka Shrama Shakti Scheme 2024

The Karnataka government launched the Sharma Shakti project to assist the state’s minority population in launching their own companies or pursuing entrepreneurial careers. Karnataka Minorities Development Corporation Limited is the primary department responsible for this project. The candidates would receive financial loans of Rs. 50,000 under the Sharma Shakti Scheme, which must be repaid within 36 months. The loan amount will include an additional 4% interest rate.

Additionally, the candidates will receive instruction in technical or artistic talents. The candidate’s age range should be between 18 and 55 years old, and their annual financial support should not exceed 3.50 lakh. The applicant is not eligible for the programme if any member of their family works for the Central, State, or Government Sector Unit.

Karnataka Swawalambi Sarathi Scheme

Shrama Shakti Loan Scheme Details in Highlights

Scheme Name Shrama Shakti Scheme
Initiated By Government of Karnataka
State Karnataka
Objective Financial loans up to 50,000 rupees
Benefits Financial loan up to 50,000 rupees
Interest Rate 4 percent
Official Website https://kmdc.karnataka.gov.in/

Shrama Shakti Scheme Objective

The primary goal of the Sharma Shakti Scheme is to spur unemployed young people in Karnataka to launch their own companies or become entrepreneurs to advance their careers and create jobs for other young people. They are employed, yet they are not in a position to support their family due to financial constraints. The Karnataka government established the Sharma Shakti initiative to provide applicants with financial assistance. Under this scheme, eligible candidates would receive a loan of rupees 50,000, which they must repay within 36 months. The remaining sum of Rs. 25,000 would be recognized as the back-end subsidy if the candidate returns half of the funding.

Mukhyamantri Anila Bhagya Scheme

Benefits of Karnataka Shrama Shakti Scheme

Some of the key benefits of the Shrama Shakti Scheme are as follows:

  • The Karnataka government launched the Sharma Shakti project to assist the state’s minority population in launching their own companies or pursuing entrepreneurial careers.
  • The candidates would receive financial loans of Rs. 50,000 under the Sharma Shakti initiative, which must be repaid within 36 months.
  • The candidates will receive instruction in technical or artistic talents.
  • An additional 4% interest rate will be applied to the total loan amount.
  • The remaining sum of Rs. 25,000 would be recognized as the back-end subsidy if the candidate returns half of the funding.

Eligibility Criteria for the Scheme

The applicants applying for Shrama Shakti Scheme must fulfill the following eligibility criteria:

  • The applicant must reside in the state of Karnataka permanently
  • The candidate’s age range should be between 18 and 55 years old, and their annual financial support should not exceed 3.50 lakh
  • The candidate ought to be a member of a minority group, such as the Buddhist, Muslim, Christian, Jain, Sikh, Parsi
  • The individual is ineligible for the scheme if any member of their family works for the Central, State, or Government Sector Unit
  • The applicant cannot have a history of defaulting on KMDC loans.
  • Not a single member of the candidate’s family or any other candidate may have benefited from any other KMDCL program during the preceding five years (other than the Arivu Scheme)

Required Documents

Some of the important documents required for the Shrama Shakti Scheme are as follows:

  • Passport Size Photo
  • Aadhaar Card
  • Income Certificate
  • Project Report
  • Surety Self Declaration Form
  • Self Declaration Form
  • Bank Account Details
  • Residence Proof of Karnataka
  • Online Application Form
  • Caste Certificate
  • Minority Certificate

Puneeth Rajkumar Hrudaya Jyoti Yoj ana

Steps to Apply for Karnataka Shrama Shakti Scheme 2024

To apply for Shrama Shakti Scheme, the user needs to follow the below given steps:

  • First of all, go to the official website of Karnataka Minorities Development Corporation Limited
  • The homepage of the website will open on the screen
Steps
  • Now from the homepage, go to the schemes option and select Shrama Shakti Loan Scheme option.
  • A new page will open on the screen.
  • Read all the information carefully.
  • After that, click on the e services option and under it click on the Online Application option.
  • A new page will open on the screen.
  • Now on this new page, click on the apply online option under the tab Loan / Subsidy for Minorities.
Steps
  • Click on the Application Form option
  • The application form will open on the screen
  • Enter your mobile number and click on the verify button to verify your mobile number
  • Now, enter all the required details like Name, Date of Birth, Annual income, Community, etc
  • Click on the submit button to submit the application form
  • Now, print the application form
  • After that, attach all the required documents to the form
  • Finally, submit the form to the District Selection Panel.

Details of the Shrama Shakti Scheme Reward

  • The candidates would receive financial loans of Rs. 50,000 under the Sharma Shakti Scheme, which must be repaid within 36 months.
  • The remaining sum of Rs. 25,000 would be recognised as the back-end subsidy if the candidate returns half of the funding.
  • An additional 4% interest rate will be applied to the total loan amount.

Contact Details

For further details or in case of any query or complaint related to the Shrama Shakti Scheme, feel free to contact on the below-given details:

Address:

39-821, 2nd Floor,

K M D C BHAVAN,

Subedar Chatram Road,

Sheshadripuram,

Bengaluru – 560020, Karnataka

Phone Number: 080-22860999 & 080-22861226

Email id: kmdc.ho.info@gmail.com


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