Swayam Yojana 2024: Objectives, Benefits, Features & Login Online Application @ swayam.gov.in

Swayam Yojana: The Odisha Swayam Yojana 2024 has been initiated by the Odisha government. It provides interest-free bank loans to unemployed rural inhabitants in the age range of 18 to 35 (or 18 to 40 for specific categories) to enable them to start new businesses. The goal of the program is to support fifty thousand urban teenagers who want to pursue profitable self-employment. To find out more about registering for the Swayam Scheme at swayam.odisha.gov.in, read the article below.

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Swayam Yojana 2024

The Odisha government recently unveiled the Odisha Swayam Yojana 2024. The initiative provides interest-free bank loans of up to Rs 1 lakh to prospective company owners between the ages of 18 and 35 (or, for certain categories, 18 and 40) to help them start new businesses. This initiative is similar to the Pradhan Mantri MUDRA Yojana (PMMY), which was established nationally in April 2015 and allows small and micro companies that are not farms or corporations to borrow up to ten lakh rupees.

Odisha Swayam Yojana Registration Details in Highlights

Name of the scheme	swayam.odisha.gov.in Registration
Launched by	Odisha government
Objective	to provide financial aid to budding entrepreneurs
Beneficiaries	business owners (18 to 35) years of age.
Mode	online
Budget	Rs 448 crore
State	Odisha
Official Website	https://swayam.odisha.gov.in/

Objectives of Swayam Yojana

Young people in the state will be able to apply for interest-free loans under the recently approved SWAYAM program by the Odisha government. Young people will be able to start small, MSME businesses and improve the state’s economic environment with the assistance of this government initiative. With the possibility of an extension at the government’s discretion, coverage is meant to reach 50,000 urban youth in two years. The SLBC will deliver district-specific targets to eligible institutions in each district after the H&UD Department establishes them.

Benefits of Swayam Yojana Odisha

These are some advantages of sway. Register at odisha.gov.in to Apply for the Swayam Scheme

• Aspiring business owners might apply for interest-free loans up to Rs 1 lakh through the Odisha Swayam Scheme 2024.
• The Odisha government’s cabinet has approved the program’s budget, which comes to about Rs 448 crore.
• Under the idea, the government would provide financial assistance to ration cardholders up to Rs 1000.
• The program’s objective is to provide financial assistance to urban youth in the age range of 18 to 35, or up to 40 for Special Category (SC, ST, PwD, or Transgender) youth, so they can launch successful microenterprises or pursue self-employment endeavors that are catered to their skills, aptitude, training, and local circumstances.
• This assistance will take the shape of simple access to bank loans with low interest rates.
• Young people without jobs or with low incomes in urban areas are urged to launch small enterprises in the manufacturing, service, and other sectors where there is a significant local need.

Features of the Swayam Yojana

• The Odisha state government unveiled the Swayam Scheme Odisha 2024 on February 12.
• The youth of the state of Odisha receive a one lakh rupee loan through this program.
• With this program, the Odisha government will create employment possibilities.
• The state of Odisha does not require its citizens to worry about capital finance to start their businesses.
• Under this initiative, the loan offered by the Odisha government is nearly interest-free.

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Rate of Interest and Payment Schedule

Rate of Interest	Repayment period
5% interest Rate	4 years

Documents Required

The following files are needed to register for the Swayam Scheme at swayam.odisha.gov.in.

• PAN Card
• Caste Certificate,
• Domicile Certificate,
• Aadhar Card,
• Bank Account details,
• Mobile number
• Business details if you are looking to take a loan to expand your business.

Eligibility Criteria to Apply for Swayam Yojana

Everyone who meets the qualifications is eligible to receive benefits from the system. The Swayam Scheme eligibility requirements are as follows:

• Candidates must reside in the state of Odisha permanently.
• Applicants must be between the ages of 18 and 35; the age limit is increased to 40 for special categories such as SC, ST, PwD, and transsexual.
• The applicant needs to be an urban resident.
• It is intended for young people without jobs.
• Additional prerequisites include being enrolled in the BSKY Scheme or earning less than Rs 3 lakh annually.
• Furthermore, to qualify for the course, candidates need to have a UDYAM-supported or registered number.

Who isn’t eligible for the Yojana?

Make sure you don’t fit into any of the following categories before applying for the Swayam Scheme.

• Applicants who meet any of the following criteria will not be eligible to receive plan benefits.
• This includes those who are defaulters in any bank or financial institution or who have outstanding loans for the same reason under any initiatives of the federal or state governments.
• Moreover, PSU employees, their families, and officials of the Central or State governments are not eligible for the initiative.
• Additionally, if the applicant’s family member is already covered by this program, they will not be eligible for its benefits.

Steps for Swayam Yojana Odisha Apply Online Registration 2024

• Visit Swayam Yojana Odisha’s official website.

• Select the “practice online” option located on the webpage.
• Provide your name, deal with, phone range, Aadhar card range, and some other important information on the utility form.
• Add each report that is needed.
• Once the registration process is complete, click the “post” button.

Ration cardholders in Odisha and Yuva Swayam Yojana Odisha can finish the online application procedure for 2024 by following these instructions.

Download Important Guidelines

The steps outlined below must be completed by the user to obtain the Swayam Yojana Odisha guidelines:

• First, go to the reliable Swayam Yojana internet site for Odisha.
• The principal page of the website will stay.
• Choose the selection for pointers.
• The suggestions will open on the display.
• Next, pick out among the city and rural guidelines.
• And your device will open the PDF.

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FAQ

Q: What is Swayam Scheme Odisha?

Ans: The Odisha Chief Minister, Naveen Patnaik, has introduced the Swayam Scheme Odisha 2024. It supports families by giving them ration cards and interest-free loans for young people.

Q: What are the benefits that the Swayam Scheme 2024?

Ans: The youth of Odisha can apply for a one-lakh loan through the Swayam Scheme.

Q: Who can apply for an interest-free loan of INR one lakh?

Ans: The state of Odisha offers interest-free loans to young people up to INR 1 lakh.

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