What is SWAYAM Yojana?
This scheme meant for unemployed or under employed youth in Odisha i.e. SWATANTRA YUVA UDYAMI, named as “SWAYAM”.
Objective of the scheme
Objective of the scheme is to provide financial assistance to urban youth, in the age group of 18-35 years and upto 40 years for Special Category (SC/ST/PwD/Transgender) for setting up gainful self-employment ventures / microenterprises, suited to their skills, training, aptitude and local conditions through easy access of credit through banks with interest subsidy. The underemployed or unemployed urban youth is encouraged to set up small enterprises relating to manufacturing, service, and petty business for which there is considerable local demand.
| Scheme Name | SWAYAM Yojana |
| Target Audience | Unemployed or underemployed youth in Odisha |
| Objective | To empower youth by providing opportunities for self-employment |
| Eligibility Criteria | Must be a resident of Odisha Must be unemployed or under employed Age Between 18-35 years and upto 40 years for Special Category (SC/ST/PwD/Transgender) |
| Document Required | Passport Size Photo Age Certificate (Aadhaar Card / Votor ID / Pan Card / Matriculation certificate / Birth Certificate ) Residence Certificate Income Certificate UDYM Registration Caste Certifificate Handicapped Certificate Transgender Undertaking/Certificate |
| Loan Amount | Project cost will be Rs. 1 Lakh with 5% margin money to be paid by the borrower. Thus, the loan amount of Rs. 95,000/- will be interest free |
| Repayment Period | The repayment period will be 4 years which includes moratorium period varying from 3 to 6 months as prescribed by the concerned bank / financial institution. |
| Benefits | Skill development training Financial assistance for entrepreneurship ventures |
| Application Process | Online application through https://swayam.odisha.gov.in/ |
Project Cost
The project cost will be Rs. 1 Lakh with 5% margin money to be paid by the borrower. Thus, the loan amount of Rs. 95,000/- will be interest free through interest subvention.
Margin Money
5% margin money to be paid by the borrower
Type of Business included
- Any income generating project in manufacturing / service / trading / business.
- Applicants desirous of setting up new enterprise or expanding existing enterprise can apply.
Age Limit
Any individual within the age group of 18-35 years. For applicants belonging to special categories (SC / ST / PwD/Transgender), the upper age limit will be 40 years.
Eligibility Criteria:
All the applicants meeting the criteria mentioned below will be eligible for availing the benefit of the scheme: 7.1. Any individual within the age group of 18-35 years. For applicants belonging to special categories (SC / ST / PwD/Transgender), the upper age limit will be 40 years. 7.2. Applicant’s family is covered under BSKY Scheme or having income of less than Rs 3 lakh per annum where “Family” implies self and spouse. 7.3. The applicant must have UDYAM registered / UDYAM assisted number.
Exclusion Criteria
An applicant covered under any of the parameters listed below will be excluded from availing benefit of the scheme: – 8.1. Defaulter in any bank / Financial Institution or having outstanding loan for the same purpose from any Central / State Government Schemes. 8.2. Employees of Central/State Government or any PSUs and their families. 8.3. If one member in the family is already covered under this scheme.
Processing fee
No processing fees and service charges will be charged by banks.
Insurance Covered
There will be comprehensive insurance coverage on all types of risks including floods and earthquakes for 110 % of the value of the stocks declared by bank. The borrower will bear the insurance charges.
Rate of Interest and Repayment Period
The loan will be disbursed in maximum 2 installments. The repayment period will be 4 years which includes moratorium period varying from 3 to 6 months as prescribed by the concerned bank / financial institution.
Important Links
- Guideline for Rural SWAYAM – Clikc Here
- Guideline for Urban SWAYAM – Clikc Here
- Official Website – Clikc Here
- Registration Link for Rural – Clikc Here
- Registration Link for Rural – Clikc Here
- After Regisration Login Page – Click Here
How to Apply
Applicant may apply through online – swayam.odisha.gov.in/index.php or Mo Seva Kendra
Click on the “Apply Online” option.Fill in the application with personal details such as name, address, mobile number, Aadhar card number, Ration Card Number, and PAN Card No.Upload the necessary documents.Submit the application.
Document Required for Apply
- Passport Size Photo
- Age Certificate (Aadhaar Card / Votor ID / Pan Card / Matriculation certificate / Birth Certificate )
- Residence Certificate
- Income Certificate
- UDYM Registration
- Caste Certifificate
- Handicapped Certificate
- Transgender Undertaking
Also Read: Current Affair for 2024
FAQ:
Q.1 – What is “SWAYAM” Yojana
Ans: “SWAYAM” yojana is meant for unemployed or under employed in Rual and Urban Area youth (SWATANTRA YUVA UDYAMI) of Odisha
Q.2- What is the Loan Amount for the “SWAYAM” yojana
Ans: Rs. 1 Lakhs Project cost 5% margin money to be paid by the borrower. Thus, the loan amount of Rs. 95,000/- will be sanctioned.
Q.3 – How can apply “SWAYAM” yojana
Ans: Applicant may apply through online – swayam.odisha.gov.in/index.php or with help of (Mo Seva Kendra)
Q.4 – What the age limit and Document required for “SWAYAM” yojana
Ans: Any individual within the age group of 18-35 years. For applicants belonging to special categories (SC / ST / PwD/Transgender), the upper age limit will be 40 years.
Following documents are required for applying “SWAYAM” yojana
- Passport Size Photo
- Age Certificate (Aadhaar Card / Votor ID / Pan Card / Matriculation certificate / Birth Certificate )
- Residence Certificate
- Income Certificate
- UDYM Registration
- Caste Certifificate
- Handicapped Certificate
- Transgender Undertaking
Q.5 – How to repayment the loan amount under SWAYAM yojana
Ans: The loan will be disbursed in maximum 2 installments. The repayment period will be 4 years which includes moratorium period varying from 3 to 6 months as prescribed by the concerned bank / financial institution.