What you get
- Financial Assistance: The scheme offers a loan of ₹50,000/- and a subsidy of ₹50,000/- for business ventures. For purchasing goods tempos or vehicles, a subsidy of 33% of the vehicle cost, up to a maximum of ₹1,50,000/-, is provided. | - Subsidy for Self-Employment Loans: A 33% subsidy, up to a maximum of ₹1,00,000/-, is available for those taking loans from banks or financial institutions for self-employment purposes.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
Who is eligible to apply for this scheme?
Applicants must be from the Sikhligara community, a permanent resident of Karnataka, aged 18 to 55 years, with a family income not exceeding [?]6,00,000 per annum.
What is the subsidy amount for purchasing a vehicle?
A subsidy of 33% of the vehicle cost, up to a maximum of [?]1,50,000/-, is available for purchasing goods tempos or vehicles.
Can I apply for a subsidy if I take a loan from a bank?
Yes, the scheme provides a 33% subsidy, up to a maximum of [?]1,00,000/-, for loans taken from banks or financial institutions for self-employment.
Is there an income limit for applying for this scheme?
Yes, the total family income should not exceed [?]6,00,000 per annum from all sources.
Are there any restrictions on previous loan availing?
Applicants or their family members should not have availed any loan/subsidy from the Corporation in the last 5 years, except for the Arivu Education Loan and Foreign Education Loan Scheme.
How much loan can I receive under this scheme?
Eligible applicants can receive a loan of [?]50,000 for starting or expanding their businesses.
How will I receive the loan and subsidy amount?
The loan and subsidy amount will be directly disbursed to your bank account upon approval of your application.
Can government employees apply for this scheme?
No, applicants who have family members employed with the State or Central Government are not eligible for this scheme.
How will the subsidy for vehicle purchase be calculated?
The subsidy will cover 33% of the vehicle cost based on the approved quotation, up to a maximum of [?]1,50,000/-.
Can I apply for this scheme online?
Yes, the applicant visited the Karnataka Minorities Development Corporation official website.