Shrama Shakthi Scheme

Shrama Shakthi Scheme (श्रम शक्ति योजना)

The Shrama Shakthi Scheme aims to empower entrepreneurs from religious minority communities in Karnataka by providing them with essential training and financial support. This initiative focuses on enhancing their artistic and technical skills, facilitating their entry into the business world with a loan of ₹50,000 at a nominal interest rate.

Overview of the Scheme

This scheme is designed specifically for entrepreneurs belonging to religious minority communities. Participants will receive training that equips them with necessary skills, along with access to a loan of ₹50,000/- at an interest rate of 4%. The repayment period is structured over 36 monthly installments.

An important aspect of this scheme is the potential for loan forgiveness. If a beneficiary successfully repays 50% of the loan within the designated 36 months, the remaining balance will be converted into a back-end subsidy. Conversely, if the loan is not repaid within the stipulated time frame, 50% of the back-end subsidy will be treated as a loan obligation.

Selection Process

The selection of beneficiaries will be conducted by a dedicated Selection Panel, which comprises:

• Chairman: Concerned Deputy Commissioner of the District
• Vice-Chairman: Chief Executive Officer of the Zilla Panchayat
• Member: Lead Bank Manager of the concerned District
• Member: Concerned District Regional Transport Officer
• Member: District Officer of the Department of Minority Welfare
• Member Secretary: District Manager of KMDC in the concerned district

Eligibility Requirements

To qualify for the Shrama Shakthi Scheme, applicants must meet the following criteria:

• Age should be between 18 and 55 years.
• Must be a permanent resident of Karnataka.
• Applicant should belong to a recognized religious minority community in the state.
• The total family income must not exceed ₹3.50 lakh per annum.
• Neither the applicant nor their family members should have received benefits from any other scheme of the KMDCL (excluding the Arivu Scheme) in the last five years.
• No family member should be employed in State/Central Government or Public Sector Units.
• The applicant should not have any outstanding loans with KMDC.

Application Procedure

The application process consists of two stages: an online submission followed by an offline procedure. Here’s how to apply:

• Step 1: Visit the official website and complete the online application form.
• Step 2: Print a copy of the filled application form.
• Step 3: Submit the printed application along with necessary documents to the Selection Panel of your respective district.
• Step 4: Upon approval from the Selection Panel, the subsidy amount will be credited to your bank account.

Benefits of the Scheme

Participants in the Shrama Shakthi Scheme will receive several advantages, including:

• A loan amounting to ₹50,000 specifically designated for individuals from religious minority communities.
• Training that enhances both artistic and technical skills, essential for successful entrepreneurship.

Official Resource

For further details, you can visit the official website: myScheme.gov.in