The Devaraj Arasu Loan scheme has been launched by the government of Karnataka. Both the federal government and state governments have launched a variety of schemes to help the economically unstable. Beneficiaries are given financial support through these schemes. The Devaraj Arasu Loan Scheme was recently launched by the Karnataka government. Loans will be made available through this scheme for the establishment of self-employment opportunities. The government of Karnataka has launched this scheme to Generate employment in the state among people. You will learn about the online application process for the program. Keep reading this article for further information. All the important information about this article will be given to you.
Overview of Devaraj Arasu Loan Scheme
The Devaraj Arasu Loan Scheme has been introduced by the Karnataka government. Through this scheme, the government will give eligible candidates financial support for self-employment activities such as business, agriculture, and associated activities up to Rs 50,000 each. The government would offer a 10% subsidy, up to a maximum of Rs 10,000. Beneficiaries are only needed to make annual interest payments of 4% on the balance of the loan. With the implementation of this scheme, the state residents will no longer need to rely on anyone for company funding or business investments. The yearly family income for people living in urban areas should not exceed Rs. 98,000, while it should not exceed Rs. 98,000 for people living in rural areas. This scheme will surely help the people of the state to shape their business opportunities.
Also Read: Airavata Scheme
The objective of the Devaraj Arasu Loan scheme
The Devaraj Arasu Loan Scheme’s primary goal is to provide loans to people from lower socioeconomic groups who want to start businesses. The beneficiaries of the scheme would receive loans up to Rs. 50000 at a minimal interest rate. Additionally, the government will subsidize the loan. As a result of the implementation of this scheme, state residents will no longer need to rely on others to help them finance their businesses because the Government of Karnataka will do so. The beneficiary’s standard of living will increase because of this scheme. And with this step, the unemployment rate of the state will reduce itself.
Key Highlights of Devaraj Arasu Loan Scheme
| Name of the scheme | Devaraj Arasu loan Scheme |
| Launched by | Government of Karnataka |
| Year | 2024 |
| Application mode | Online and offline both |
| Benefits | Loans will be provided by the government |
| Objectives | To generate employment |
| Beneficiaries | Residents of Karnataka |
| Official site | Devaraj Arasu Loan Portal |
Also Read: Karnataka CM Self Employment Scheme
Eligibility Criteria
The Eligibility criteria for applying to this scheme are as under;
- The candidate must be an Indian citizen.
- They should have passed entrance exams or merit-based exams to gain admission to reputable international universities for further study.
- 10+2 or a comparable course must be completed.
Benefits of the Devaraj Arasu Loan Scheme
- The Karnataka government has introduced the Devaraj Arasu Loan Scheme.
- Loans will be made available to qualifying recipients through the program.
- This loan’s maximum amount is Rs. 50,000.
- Additionally, the government will offer loan subsidies.
- The maximum amount of the subsidy will be Rs 10,000.
- Beneficiaries are required to pay a small amount of interest at a rate of 4% annually.
- Beneficiaries are no longer dependent on third parties to finance their businesses because of the installation of this phone.
- Since the Karnataka government will support them financially
Also Read: Guarantee Scheme Status
List of Loan Schemes under the Devaraj Arasu Scheme
- Individual Loan Program under the Chaitanya Subsidy Cum Soft Loan D Devaraj
- Microcredit Program
- Assistance for Traditional Occupational Groups and Artisans
- Irrigation Plan for Ganga Kalyana
- AVRU Education Loan Program
- Interest-Free Loan for International University Higher Education
- Programs Offered by NBCFDC (Term Loan, Education Loan, Mahila Samriddhi Micro Finance Scheme for Women, Micro Finance, Small Loan for Individual)
- Karnataka Samaja Savitha
- Karnataka MachidevaMadiwala
- The Self Employment Scheme in Karnataka
- Madivala Machideva Gangakalyana Scheme in Karnataka
- Arivu Madivala Machideva
Required Documents
- Aadhar card
- Income certificate
- Proof of age
- Passport size photograph
- Mobile number
- Email ID etc.
Devaraj Arasu loan Scheme Apply Online 2024
- You must first visit the Devraj Arasu Loan official website. The homepage will show up on your screen.
- The Devaraj Arasu Loan Program
- You must click on the Devaraj Arasu financing scheme on the front page.
- You’ll be taken to a different page.
- You must complete this page by entering all necessary information.
- You must then upload all necessary documents following that.
- You must now select “submit.”
- By using this process, you can apply for the program.
Contact details
- Email; md.dbcdc@gmail.com,
- contact Number; 080- 22374832
FAQs
Through this scheme, the government will give eligible candidates financial support for self-employment activities such as business, agriculture, and associated activities up to Rs 50,000 each
The government would offer a 10% subsidy, up to a maximum of Rs 10,000. Beneficiaries are only needed to make annual interest payments of 4% on the balance of the loan. With the implementation of this scheme, the state residents will no longer need to rely on anyone for company funding or business investments
The candidate must be an Indian citizen. They should have passed entrance exams or merit-based exams to gain admission to reputable international universities for further study.
Yes, you can easily for this scheme online. You must visit the official online web portal provided by the government of Karnataka.