The Government of Karnataka has created a new scheme called Karnataka Minorities Development Corporation Limited in which citizens of Karnataka will get financial assistance in the form of financial loans for starting their own businesses or growing their pre-existing businesses. The applicants who applied under the KMDC Loan scheme will need to check their Status to know their Application process. The Application status option will contain information about their application progress, loan interest rate or loan repayment duration. All the citizens of the state who have already registered under scheme are eligible to check the KMDC Loan Status from the official website easily. So it will be easy for candidates to view their application progress to create transparency.
Importance of KMDC Loan Status
The KMDC Loan Status will provide efficiency to candidates who have already registered under the KMDC Loan Scheme to know about the application progress regarding financial loan distribution. Applicants who have already registered for the KMDC Loan Scheme can know about the status of their application, financial loan distribution, and its interest rate. After checking the application progress candidates will know when they will get the Financial loan under the scheme or not, when the financial loan will be distributed, and the period of repayment of the loan. Under the KMDC Loan scheme, candidates will get a loan on the basis of eligibility criteria. The process to check the KMDC Loan Status is quite a simple process, as one just needs to visit the official website of the portal and select the beneficiary status. All the relevant details will be on the screen of candidates.
Also Read: Guarantee Scheme Status
The objective of KMDC Loan Status
The main objective of KMDC Loan Status is to provide efficiency to the applicants for checking their application status in online mode via its official website. This process will create a transparent environment between the applicant and the authority. Candidates don’t need to visit the government offices to know the progress of their application or loan-related information, all the details will be easily accessible from the official website, beneficiary status option. Applicants just need to enter their Mobile Number and Date of Birth, all the relevant information will be on their screen.
Key Highlights of KMDC Loan Status
| Launched By | Government of Karnataka |
| Name of Scholarship | KMDC Loan Status |
| Objective | To provide candidates facility to check their application status related to financial loan |
| Benefits | Know about the progress of their application |
| Eligibility Criteria | Must be a resident of Karnataka |
| Beneficiaries | Candidates who are about to start their own business or growing their pre-existing business |
| Official Website | https://kmdconline.karnataka.gov.in/Portal/home |
What is the KMDC Loan Scheme?
The Karnataka Government’s KMDC Loan Scheme has been started for the citizens of the state who want to establish their own businesses or want to expand their businesses at a higher level. The government through the KMDC Loan Scheme will offer financial assistance in the form of financial loans to all the eligible candidates. The candidates will receive Rs. 50,000 with 4% interest rate. They have to repay the amount of the loan i.e. Rs. 25,000 in 36 months, in this case, the other half amount will be considered as Back End Subsidy. All the citizens of Karnataka who belong to Minority communities like Muslims, Sikhs, Parsis, Jains, Christians, and Buddhists are eligible for the KMDC Loan Scheme. The online process for registration under the KMDC Loan Scheme will be started on 25 September 2023.
Also Read: Karnataka Skill Connect Portal
Required documents
- Mobile number
- Date of Birth
Benefits of KMDC Loan Status
- The Government of Karnataka has created a new scheme called Karnataka Minorities Development Corporation Limited in which citizens of Karnataka will get financial assistance in the form of financial loans for starting their own businesses or growing their pre-existing businesses.
- The applicants who applied under the KMDC Loan scheme will need to check their Status to know their Application process.
- The Application status option will contain information about their application progress, loan interest rate, or loan repayment duration.
- All the citizens of the state who have already registered under the KMDC Loan Scheme are eligible to check the KMDC Loan Status from the official website easily.
- It will be easy for candidates to view their application progress to create transparency.
- The candidates will receive Rs. 50,000 with 4% interest rate.
- They have to repay the amount of the loan i.e. Rs. 25,000 in 36 months, in this case, the other half amount will be considered as Back End Subsidy.
Check KMDC Loan Status Online
- Candidates need to visit the official KMDC Loan Scheme website of the KMDC Loan Scheme.
- The homepage will appear on your screen, here you have to click on the Track Status option.
- After that, the Status page will open, here fill in the following details:
- Mobile Number
- Date of Birth
- After this candidates need to click on the Track button.
- As you click on the button all the relevant details will be on your screen, which will be easily accessible by the candidates.
Contact Details
Karnataka Minorities Development Corporation Ltd., No. 39-821, Subedar Chatram Road, Sheshadripuram,
- Bengaluru – 560001, Karnataka, India
- CIN: U67190KA1986SGC007460
FAQs
Candidates who registered under the KMDC Loan Scheme will only check their application status.
Candidates need to enter their respective mobile number and date of birth.
Candidates just need to visit the official website of the portal and click on the Track Status option to know the status of the application.