Mukhyamantri Gramodyog Rojar Yojana

The Government of Uttar Pradesh has launched the Mukhyamantri Gramodyog Rojar Yojana (MGRY) which provides financial assistance to individual entrepreneurs to start their own ventures. This scheme aims to promote entrepreneurship and create self-employment opportunities, specifically in rural areas. Under this scheme, financial assistance of INR 10 Lakhs will be provided to various entrepreneurs of the State. The funds are given at an interest of 4% for beneficiaries of the general category. In this article, we look at the Mukhyamantri Gramodyog Rojar Yojana in detail.

Eligibility Criteria

To apply for the Mukhyamantri Gramodyog Rojgar Yojana, applicants are required to fulfil the following criteria.

This scheme is applicable to the unemployed youth of the State only.
Applicants must be permanent residents of UP.
The applicant must be between 18 and 40 years of age.
To apply for a loan above INR 15 Lakhs, the applicant must have a minimum education qualification of 10th Grade from a recognized board.
Women entrepreneurs are eligible and encouraged to apply for this Scheme.
The applicant should not be a defaulter in the records of any bank.

Note: Priority will be given to the unemployed youth who have received technical training from ITI and Polytechnic institutions.

Documents Required

The applicants must furnish the following documents along with the Application Form to apply for the Mukhyamantri Gramodyog Rojgar Yojana.

Identity Proof: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
Address Proof: Aadhar Card, Valid Passport, Utility bill, Property tax bill, etc.
If the applicants have any work experience, then documents proving the same are necessary.

Benefits of the Scheme

Eligible applicants under the Gramodyog Rojar Yojana would get a loan amount of about INR 25 Lakhs through private and cooperative banks. Loans will be approved by the Reserve Bank of India (RBI), Government of India. Upon approval, the loan amount will be directly transferred to the beneficiary’s bank account and the remaining 5% of the project has to be self-owned by the entrepreneur. The beneficiaries of reserved category such as Scheduled Caste, Scheduled Tribe, Backward Class, Minority, Disabled, Women and Ex-Serviceman are provided with full interest subsidy under the District Plan.

Securities and Margin Money

As per the principles of the RBI, the terms of margin money, collateral and security are applicable for the Scheme. The collateral amount is free from bondage by the Reserve Bank of India for a loan of INR 10 Lakhs.

Interest Subsistence Eligibility Certificate

Under the Scheme, an eligibility certificate will be issued by the District Village Industries Officer for offering an interest component on bank loan acceptance and the renewal will also be issued by the concerned District Village Industries Officer.

Application Procedure

Applicants may apply for the Gramodyog Rojar Yojana online by merely following the steps given below. Step 1: Applicant will have to visit the official portal of Uttar Pradesh Khadi and Village Industries Board to avail the services offered by the State Government. Step 2: Then, click on the “Chief Minister Gramodyog Rojar Yojana” link on the home page of the portal. Step 3: In case the applicant is new to the portal, they have to register to apply for the Scheme. Step 4: After entering all the required details, the applicant has to click on the Submit icon. Step 5: With the generated User ID and Password, log in to the portal and apply for the required service. Step 6: After that, the applicant will be required to fill the application form with all the mandatory details. Step 7: Then, upload all the supporting documents onto the Portal before submitting the application. Step 8: Finally, the applicant will have to click on the Submit icon. Note: If the entrepreneur's industry is affected due to any divine disaster or due to untimely accident, then it will be jointly examined by the Bank Branch Manager and District Village Industries Officer. The decision will be made by the Board based on the interest subsidy offered to the entrepreneur and on the recommendations received.

Track Application Status

To check the online application status of Chief Minister Gramodyog Rojar Scheme, the applicant has to visit the official website of UP Khadi and Village Industries Board and click on the View Application Status. After that, enter the Application ID in the required box and then, press the View Application Status icon to track the status of the application.