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West Bengal Proposes New Loan Scheme: Borrow Rs 1 Lakh and Return Only Rs. 70, 000

Msme West Bengal Proposes New Loan Scheme:

West Bengal Proposes: The West Bengal Self-Help Group and Self-Employment Minister Sadhan Pande have launched a new loan scheme targeting micro, small and medium enterprises (MSME).  Under this new scheme, the loan takers will need to pay back only Rs. 70, 000 on taking a loan of Rs. 1 lakh.  This special loan scheme is launched for the MSME entrepreneurs who would like to start a business.

As per the reports, this new and unique scheme is named a “Nijer Paye Dara,” which means “stand on your feet”.  This new scheme will be introduced in the fiscal year 2017-18.  This new loan scheme majorly targets those youngsters in rural areas, many of whom have been coming to cities to earn their bread.The main aim of the scheme is to increase self-employment, which will, in turn, reduce unemployment automatically and also reduce the stress on urban centers where people from villages congregate for earning a living.

Msme West Bengal Proposes New Loan Scheme: What the scheme is all about

Msme West Bengal Proposes New Loan Scheme:

This scheme also encourages rural art and handicraft, other than promoting businesses whose products and services serve mainly to village folk or local residents.For the individual to be benefited by the scheme, the loan needs to be taken from the bank through only the Self Help Group and Self-Employment Ministry, said Pande as per the reports.  Such individuals will only need to return back Rs. 70, 000 for every RS. 1 lakh loan borrowed from the bank in the name of a loan under the new scheme.

The remaining 30, 000 will be returned by none other than the West Bengal government in the form of a grant.  Pande also said that an MSME entrepreneur can take a loan of up to Rs 5 lakh and with the scheme applied; they only need to repay Rs.3.5 lakh to the bank while the remaining Rs. 1.5 lakh will be settled by the state government as a grant.

The loan borrowed from the bank can be used to set up a computer, tailoring, grocery, utensil and other kinds of shops, as well as units that manufacture earthen goods and leaf-made disposable utensils etc.


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