Govt announces bank loans for unemployed
By Vaibhav Aggarwal
Feb 26, 2009
Print    Email    RSS   

People who are unemployed have a reason to cheer as the state government of West Bengal has announced bank loans of Rs 50,000 for the unemployed youth.

The state government announced the scheme on February 24th with a view to help the unemployed youth who want to start their own ventures. Labour Minister Mrinal Banerjee discussed the loan granting procedure in a meeting with the representatives of RBI, Bank of Baroda, SBI and other banks.

Addressing a press conference, Mr Banerjee said, "We have worked out a new scheme, Udiyaman Swanirbhar Karmasanstan Prakalpa 2008, for unemployed youth who set up small business ventures in the state. We are looking at businesses where the minimum investment will be Rs 50,000 and maximum investment Rs 5 lakh. The state government will provide a 25% subsidy for these business ventures."

He stated that, "Youths, between 18 and 45 years of age, would be given Rs 50,000 each. Of this, the state government will pay Rs 12,000." The minister said that if ten individuals joined together to prepared a scheme, then they would get loan of Rs 5 lakh and the government would pay Rs 1.25 lakh of that amount.

This scheme will be available to those people who have registered with employment exchanges and have not received any job through the exchange in the past one year. "We plan to launch the scheme in the current financial year. A screening committee will be set up with representatives from the labour department, district administration, banks and chambers who will scrutinise the business proposals."

Further the state government is in discussions with the some public sector banks to lend loans for the purpose. "We have spoken to eight nationalised banks today on this issue. We plan to meet these banks next month again," said the labour minister.


(Comments Posted : 117) Post Your Comments
1. Respected sir,
I am a (B.A.) student.I have small xerox shop including videography .I want to grow my business. How could i get a loan(i have employment exchange card) i need loan amount of 1 lakh to 1.5 lakh only thank you....!
Tarique Aziz (Posted: May 29, 2016)
2. Sir,
I want to start a small business of online retail, for this course I want to take this lone.

Please tell me the whole procedure of this lone.

Yours faithfully
Mriganka Chowdhury
Mriganka Chowdhury (Posted: May 3, 2016)
3. I am a hwaker.I have small xerox shop.I want to grow my business.I have no trade licence.How could i get a loan(i have employment exchange card) amount of 300000-500000.
Gobinda Mondal (Posted: Apr 18, 2016)
Show All Comments
 Select a product:

 Select a product:

This is how a bank lends money
Your dream car - with good Car Loans from...
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs #4
Bank loans that could glitter for you

how can i check my statement of account of car loan
BAGGY: CaℒL Giℛℒ In Pcmc 09881793111 Escoℛt...
i want to know my car loan statement in icici bank,...
i want my loan account statement on line but i do...
09988559083 Amritsar Escorts - 09988559083 ,...

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive