Shri Vajpayee Bankable Yojana
A Comprehensive Guide to the Shri Vajpayee Bankable Yojana for Entrepreneurs
Eligibility Criteria for Vajpayee Bankable Yojana
- The applicant must be between 18 and 65 years old.
- Also, the minimum educational qualification is completion of the 4th grade.
- Moreover, the applicant should have at least three months of training at a private establishment or one month at a government-approved institute.
- There are no criteria based on family income.
Maximum Limit for Bank Loan for Shri Vajpayee Bankable Yojana
- ₹.8.00 lakh for the Industries sector.
- ₹.8.00 lakh for the Service sector.
- ₹.8.00 lakh for the Business sector.
Rural Regions:
- For the general category, it is a 25% subsidy.
- 40% subsidy for women, ex-service personnel, members of scheduled castes and tribes, and individuals with 40% or more disabilities.
Urban Regions:
- For the general category, it is a 20% subsidy.
- 30% subsidy for women, ex-service personnel, members of scheduled castes and tribes, and anyone with 40% or more disabilities.
Maximum Limit of Subsidy for the VBY Yojana
The subsidy amount under the scheme is limited based on the sector and the beneficiary category.
- Industries Sector: The maximum subsidy limit is ₹1,25,000.
- Service Sector: The maximum subsidy limit is ₹1,00,000.
- Business Sector: For the General Category
- Urban Areas: ₹60,000
- Rural Areas: ₹75,000
- For the Reserved Category (SC/ST, ex-servicemen, women, and differently-abled individuals):
- Both urban and rural areas: ₹80,000
Note: For beneficiaries who are blind or have a disability of 40% or more, the maximum subsidy limit in any sector is ₹1,25,000. This provision ensures increased support for differently abled individuals, enabling them to participate actively in economic activities.
List of the Required documents.:
- Aadhar card.
- Vocational Training Certificate.
- Educational qualification certificate.
- Caste certificate(if applicable).
- Address proof (Light bill).
- Passport-size photocopy.
- Ration card.
- Quotations.
- School LC or Birth certificate
- Business proof (Rent agreement).
- Driving license (for service business)
