This state government offers Rs 10 lakh for entrepreneurs. It particularly aims to support women and youth to work on their business ideas.
Government scheme: In a remarkable effort to foster entrepreneurship and empower aspiring individuals, the state of Bihar has released the Mukhyamantri Udyami Yojana. This program offers a substantial loan of Rs 10 lakh to ambitious entrepreneurs, eliminating the burdensome paperwork usually associated with such endeavors. Notably, this initiative particularly aims to support women and youth in their pursuit of business ventures.
To avail themselves of this opportunity, prospective applicants must fulfill the requirement of being permanent residents of Bihar. The scheme extends its benefits exclusively to individuals residing within the state boundaries. While individuals belonging to the SC-ST category are eligible, women and youth from backward classes are also encouraged to apply. However, it is important to note that individuals from the general category or those above the age of 50 will not be eligible for this particular scheme. The age range for participation spans from 18 to 50 years.
To begin the application process, candidates will receive an OTP (One-Time Password) on the mobile number provided during form submission. After entering the OTP, applicants are required to upload and submit the form through the designated platform. Interested individuals must first log in to the official website of the Mukhyamantri Udyami Yojana and acquire the necessary form. The form will require essential details such as name, address, Aadhaar number, mobile number, and account number.
Applicants must possess a 12th-grade qualification, indicating the completion of intermediate education, to be considered eligible for this scheme. Additionally, holding an ITI, Polytechnic, or any other professional degree is also a prerequisite.
Once the form is downloaded and submitted, it is advisable to keep a copy of the application for personal records. The scheme operates by categorizing eligible candidates into three groups: A, B, and C. Those selected will receive the loan amount of Rs 10 lakh in installments, as per the terms outlined in the scheme.
Read more: Education loan: Key considerations before taking it to ensure smooth process
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 "Business, Financial Help, Government scheme, Mukhyamantri Udyami Yojana, Mukhyamantri Udyami Yojana Bihar, Business News")
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