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Bihar Chief Minister of Minority Employment Loan Scheme

Chief Minister Minority Employment Scheme – Bihar government has implemented the Chief Minister of Minorities Employment Loan Scheme for minorities in the state. Under this government scheme, the state government provides loans to the people coming from the minority community. Deputy Chief Minister Sushil Kumar Modi has also decided to increase the fund from 25 crores to 100 crores this year under the Minority Loan Scheme. Due to which minority youth can be given loans for employment.

The amendment in the guidelines of the CM Minorities Employment Loan Scheme in Bihar will increase the employment opportunities for minority candidates (Muslim, Sikh, Parsi, Buddhist, and Christian religions) from now on. Minority loan scheme Unemployed people in Bihar can avail loans of up to 5 lakh at a low-interest rate to start businesses and startups.

Read More: Prime Minister Kisan Samman Nidhi Scheme List 2019

The state government has taken this decision in view of unemployment among the youth of the minority class in the state. Apart from this, Sushil Modi also said that the provision of a 10 percent reservation for enrollment in government jobs and educational institutions for the economically weaker sections by the central and state government will benefit the minorities.

Terms and Conditions of Minority Employment Loan Scheme

Under this scheme, Bihar State Government will provide a loan of Rs. 5 lakh to the economically weaker and unemployed persons of minority communities on the following conditions for starting self-employment:

  • Under this scheme, interest will have to be paid 5% of the quarterly calculated amount.
  • There will be no interest on the loan for a period of 3 months from the date of taking the loan.
  • If the candidate pays the loan amount at the stipulated time. So he will be given a 5% discount on the interest rate by the government.
  • Under this scheme, the candidate will have to pay his loan in 20 equal quarterly installments. The scheme will provide benefits to unemployed persons by direct benefit transfer (DBT) to their bank.

Eligibility Criteria of Applying for Bihar Chief Minister of Minority Employment Loan Scheme

  • The age of the applicant should be between 18 years and 50 years.
  • The applicant must be a resident of Bihar state.
  • Self-employment will have to be started in Bihar state itself from the amount of loan taken under this scheme.
  • Under this scheme, it is mandatory for the applicant to be unemployed for availing a loan.
  • Applicant should not be working in Central Government, State Government or Semi-Government Organization.
  • The applicant should be a person of a minority community and his family income from all sources should not exceed 4 lakhs.

Documents required for Bihar Chief Minister of Minority Employment Loan Scheme

  • Certified Minority Certificate from Bihar State
  • Aadhar card number
  • Bank account number of any nationalized bank of the applicant
  • Certificate of being a resident of Bihar state
  • Proof of home address, under this you can put a photocopy of your home electricity bill or phone bill.

The application process for Bihar Chief Minister of Minority Employment Loan Scheme

  • To apply for a loan under this scheme, you have to download the application form from the website of ‘Bihar State Minorities Financial Corporation Limited Patna’.
  • After this, you have to fill the information asked in it and submit it to the office of the department concerned with providing the loan.
  • After attaching a copy of the required document (photocopy) with the application form, putting a photo of your passport size, the form has to be submitted to the office of the bank determined under the scheme of the state of Bihar.
  • After this, the process of granting you a loan will be started by the bank after checking the eligibility under the scheme.
  • Download the form to apply for the Bihar Chief Minister Minority Employment Loan Scheme.

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