Swami Vivekananda Assam Youth Empowerment Scheme

Probir Modak

1 year ago

Swami Vivekananda Assam Youth Empowerment Scheme:-

The Government of Assam has introduced Swami Vivekananda Assam Youth Empowerment Yojana (SVAYEM) in the year 2017. Under the SVAYEM scheme, the Government provides financial support to the youth of Assam for taking up income-generating activities in the manufacturing, trading and service sector. The key objective of SVAYEM is to create employment opportunities for youth through setting up of new ventures and growing existing ventures.

Objective of SVAYEM Yojana:

The main objective of Swami Vivekananda Assam Youth Empowerment Yojana are as follows :-

To create employment opportunities for youth in rural and urban areas of Assam through setting up of new ventures and growing existing ventures.
To provide financial assistance to micro and small enterprises in Assam. MSE should be engaged in the manufacturing, trading and service sector
To enhance the income level of traditional artisans of Assam by providing financial credits
To ensure sustainable growth of traditional artisans in the state of Assam

Activities Under SVAEM Yojana:

ALSO READ : EDUCATION LOAN IN ASSAM GYAN DEEPIKA SCHEME

Income-generating activities which can be supported under SVAYEM Yojana are listed below :-

Manufacturing
Trading
Processing
Rural Transport Service such as Auto Rickshaw, E-Rickshaw
Service Sector
Tourism
Shops, repairing centers, Handicraft, Cottage Industries

Who can apply for this scheme:

Some eligibility criteria for this scheme are as follows:-

The youth must be a Resident of Assam
Age of the youth should be above 18 years
To get assistance under this scheme, there will be no income for youth
Every youth should have skill, experience and knowledge to undertake the income-generating activities
Education qualification of the youth should be above class VII
The applicant who has already completed Skill Development Training will be given preference
If the beneficiary is a defaulter of any loan, he is not eligible for SVAYEM scheme
(PMEGP) beneficiaries of the last 5 years will not be eligible under the scheme

How to apply for this scheme:

ALSO READ : EDUCATION LOAN IN ASSAM GYAN DEEPIKA SCHEME

The applicant should fill the application form for SVAYEM scheme official website
Submit the application form along with all supporting documents to the district office.
General Manager, DICC will scrutinize the application and forward to the District Level Committee (DLC) for approval.
DLC will examine the application for the loan and recommend to the corresponding bank.
Bank will appraise the project both technically and economically, with the approved project cost of DICC.
Bank will issue sanction within 30days according to the proposal.
After deposit of promoter contribution by the applicant and receipt of subsidy claim, the loan will release to the beneficiary within 5 days.

Documents Required for the scheme:

SVAYEM Application Form
Applicant should submit a project or scheme report for the proposed project ( Report should contain details of technical and economic viability)
Identity Proof
Proof for qualification of VII Standard
Age Proof
Experience certificate if applicable
Skill Development Trainee Certificate if Applicable
Residence Proof
Nation food security card if applicable
Copy of business license
Copy of business registration certificate
Ownership identity documents

SVAYEM Scheme Features:

Bank Finance:

* Under this program, the bank will cover 55% of the project costs.

* After the loan is approved, the beneficiary will pay the owner’s contribution of 25% of the project cost with the bank.

* For the total approved amount, the bank must claim the corresponding subsidy.

* After receiving the subsidy, the loan amount will release.

* The loans will be paid out in one single payment.

Rate of interest and repayment schedule :

SVAYEM Scheme’s interest rate and repayment schedule are as follows “-

The interest rate will be charged under Reserve Bank of India norms. After the final moratorium, the repayment plan will be between 3-7 years.
The final moratorium will describe by the financial institutions.

SVAYEM scheme approval procedure:

The approval procedures of this scheme are as follows:-

* Applicants must submit their applications to the district level.

* The applications will accept through an online procedure by the relevant authority.

*After submission, the district-level committee’s General Manager will review the applications.

* The application will review by the committee.

* The bank will recommend by the confirmed application.

* After that, the final decision will be made by the bank.

* The loan will release in 5 working days after the proposal has been chosen.

* The bank will next propose a margin money subsidy against the borrower.

Contact Details :

For any queries or details which you want to know regarding the SVAYEM Scheme feel free to contact us on the below-given details

Address:

Administration Secretariat
Assam Secretariat,
Block ‘A’, 2nd Floor Dispur,
Guwahati, Assam-781006
Phone Number: 0361-234567
Email Id: sad@assam.gov.in

MORE INFORMATION YOU CAN VISIT THIS OFFICIAL WEBSITE

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