The Karnataka government has launched the Karnataka Shrama Shakti Scheme 2024 to benefit the state’s minority communities. Under this program, the government would provide members of the minority class with low-interest financing (4 to 5%) and skill training, allowing them to start their businesses. The Karnataka Chief Minister launched this initiative. This plan began in July 2023. This program will provide government-sponsored skill training to members of minority groups in a variety of categories.  Read on to learn more about the Shrama Shakti Loan Scheme, including its highlights, objectives, benefits, eligibility criteria, required documents, steps to apply for the scheme, reward details, and more.

Karnataka Shrama Shakti Scheme 2024

The Shakti Scheme was launched by Karnataka’s Chief Minister, Mr. Siddaramaia, and the Karnataka Minorities Development Corporation Limited. Under this Karnataka Shrama Shakti Scheme 2024 the candidate will receive a financial loan to start their own business. Loans of up to Rs.50,000 will be provided to eligible candidates for 36 months. If the candidate repays half of the loan before 36 months, the remaining amount will be recognized as a back-end subsidy. The loan amount will carry a 4% interest rate. The candidate will also receive training to improve artistic or technical abilities. If a candidate’s family member works in a government job or unit, the candidate is ineligible for the loan amount under this scheme.

Details of ಕರ್ನಾಟಕ ಶ್ರಮ ಶಕ್ತಿ ಯೋಜನೆ 2024

The objective of Karnataka Shrama Shakti Scheme 2024

The primary goal of the Sharma Shakti Scheme is to encourage unemployed young people in Karnataka to start their businesses or become entrepreneurs so that they can advance their careers and create jobs for other young people. They are employed but are unable to support their family due to financial constraints. The Karnataka government established the Sharma Shakti initiative to help applicants with financial needs. Under this scheme, eligible candidates will be given a loan of Rs. 50,000, which they must repay within 36 months. If the candidate returns half of the funding, the balance of Rs. 25,000 will be recognized as a back-end subsidy.

Features & Benefits

• Karnataka’s Chief Minister, Mr. Siddaramaiah, and the Karnataka Minorities Development Corporation Limited have launched the Shrama Shakti scheme.
• If a candidate repays half of the loan within 36 months, the remaining balance will be considered a back-end subsidy.
• The government will charge a 4% interest rate for the loan amount.
• The candidate will receive training to develop artistic or technical skills.
• The Karnataka Shrama Shakti Scheme provides candidates with financial loans to start their businesses.
• The government offers loans up to Rs.50,000 to eligible candidates.
• This loan will only be for 36 months.

Required Documents

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

Steps to Apply for Karnataka Shrama Shakti Scheme 2024?

To apply for the Shrama Shakti Scheme, the user should follow the steps listed below:

• First, visit the official website of Karnataka Minorities Development Corporation Limited.
• The homepage of the website will appear on the screen.
• Now, from the homepage, navigate to the schemes section and select Shrama Shakti Loan Scheme.

• A new page will appear on your screen.
• Read all of the information carefully.
• After that, select the e-services option, then the Online Application option.

• A new page will appear on your screen.
• Now, on this new page, select the Apply Online option under the Loan / Subsidy for Minorities tab.

• Click the Application Form option.
• The application form will open on your screen.

• Verify your mobile number by entering it and clicking the verify button.
• Now, enter all the required details, such as name, date of birth, annual income, community, etc.
• Click the submit button to submit the application form.
• Now print the application form.
• After that, attach all the necessary documents to the form.
• Finally, submit the form to the District Selection Panel.

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