Mukhyamantri Laghu Udhyog Protsahan Yojana (MLUPY) provides subsidized loans through Financial institutions to facilitate the establishment of enterprises in the state and to provide new employment opportunities to all sections of the society.
Role of Financial Institutions under Mukhyamantri Laghu Udhyog Protsahan Yojana (MLUPY)
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Under the scheme, loans will be provided for manufacturing, service and business enterprises through financial institutions like (Nationalized Commercial Bank, Private Sector Scheduled Commercial Bank, Scheduled Small Finance Bank, Regional Rural Bank, Rajasthan Financial Corporation, SIDBI and Urban Cooperative Banks).
Which Type of Enterprise is eligible
Along with newly established enterprises, pre-established enterprise will also be eligible for expansion / diversification / modernization projects.
Who Can Apply
Under the scheme Individual applicants as well as institutional applicants (self-help groups / societies / partnership firms / LLP firms / companies) will also be eligible. The establishment of the enterprise under the scheme will be Rajasthan State. The minimum age of the individual applicant shall be 18 years.
Loan Amount under Scheme
Under the scheme, loan up to Rs. 10 crore will be available for new Manufacturing and Service Enterprises and Rs. 1 Crore for units going for expansion/diversification/ modernisation . The maximum limit of loan for business will be Rs. 1 crore. The nature of the loan will be composite loan, term loan and working capital (including CC Limit). As per RBI guidelines, collateral security will not be needed on loans upto Rs. 10 lakh.
Interest Subsidy under Mukhyamantri Laghu Udhyog Protsahan Yojana (MLUPY)
The Interest Subsidy will be granted to the beneficiaries on the loan provided by banks which will be payable as follows for five years:
|S.No.||Maximum Loan Amount||Interest Subsidy|
|1.||Up to 25 Lakh||8%|
|2.||25 Lakh to 05 Crore||6%|
|3.||05 Crore to 10 Crore||5%|
Under the scheme, the applications will have to be submitted online, whose process will be according to the guidelines prescribed for the implementation of the Scheme. Loan applications up to Rs. 10 lakh can be forwarded directly to the banks without any interview and the loans above Rs. 10 lakh will be forwarded to the bank after being scrutinized by the District Level Task Force Committee.