Kayaka (Kaakha) Scheme in Karnataka 2018 0% interest loan, Eligibility Criteria, Application Form Process, Budget, Self Help Group(SHG) ‘ಕಾಯಕ ‘
The new government of Karnataka just announced the budget for the development of the state. As expected, there are a number of schemes, targeted towards the progress of financial and trade in the state. A new scheme, named Kayaka Scheme, will be implemented soon that will offer financial assistance to self-help groups. These groups will utilize the funds for training people who desire to do something on their own.
Launch details
| Name of the scheme | Kayaka Scheme |
| Launched in | Karnataka |
| Launched by | Chief Minister HD Kumaraswamy |
| Official date of announcement | 5th July, 2018 |
| Launch date | Soon |
| Targeted towards | Self-help groups in the state |
Key features of the scheme
- Development of self-help groups – The scheme has been designed for bringing about development of self-help groups, operating in the state. The money will be utilized to increase the skill development and entrepreneurship amount the people.
- Easy availability of loan – With the launch and implementation of this scheme, self-help groups will be able to attain easy loans from banks, and increase their activities for the betterment of skill development among people.
- Loan amount – The state government will offer anything between Rs. 1 lakh and Rs. 10 lakhs to the self-help groups.
- Interest on the credit – Under this scheme, the self-help groups will not have to worry about too much interest payment. The banks will not charge any interest for a loan amount ranging between Rs. 1 lakh and Rs 5 lakhs. For an amount that ranges between Rs. 5 lakhs and Rs. 10 lakhs will be charged with 4% interest only.
- Primary implementation in five areas – The first phase of the scheme’s implementation will take place in five urban areas.
- Total number of beneficiaries – During the primary implementation phase, the credit will be offered to as many as 3000 self-help groups.
Eligibility for application
The scheme has just been mentioned in the state budget. So, nothing concrete is known about the eligibility for application. But it is clear that only self-help groups, located and working within the borders of the state will be able to apply and receive this loan.
How to apply for loan?
The state will soon declared the official launch of the scheme. At that time, all details, related to the application form and enrollment procedure will also be highlighted clearly. It will make it easy for all interested self-help groups to attain this financial assistance.
For the overall development of small and marginal businessmen, proper training is a must. Assistance to self-help groups will ensure that these people get the guidance they require. Training and encouragement to small and marginal farmers is a must in today’s trade world.
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