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 : 41) Post Your Comments
1. I had started a business of retails jewellery shop due to fund problem I have to resume service in a private limited company. Can anybody assist me how to take loan so that I can spent time in my own shop.
Manoj Kumar Gupta (Posted: Jul 22, 2014)
2. Sir/Mam,
how to get business loan as a working capital,please give me positive response.My name & phone no are given below.


BIPLAB SARKAR (Posted: Jul 8, 2014)
3. sir
i want to get 4 lakh loan for my business purpose so help me how to get name $ mobile is below....
MOB- 8768300231
DIPANKAR DAS (Posted: Jul 1, 2014)
Show All Comments
 Select a product:

 Select a product:

Manage your loans, avoid recovery agents
Carnival of Indian Personal Finance Blogs #3
Your dream car - with good Car Loans from...
Effect of employment on loan eligibility...
Carnival of Indian Personal Finance Blogs # 8

I want my car loan statement
I want my car loan statement
sir i have purchased a dizer swift car no DL6CL-9794...
hi how to check cbil report
am i in your defaulter list
why my name is list in civil record?

Job opportunity in Bank of Maharashtra Jul 21, 2014
ICICI bank opening its branch in Australia, SA and Mauritius Jul 2, 2014
Banks will now provide 100% car financing Jun 26, 2014
BOB’s new eco friendly headquarter Jun 25, 2014
IOB bank’s second branch in Bangkok Jun 12, 2014
News Archive