Micro Finance (GBCDC)

About This Scheme

The scheme "Micro Finance (GBCDC)" by the Social Justice and Empowerment Department, Government of Gujarat, aims to create self-employment for men from the backwards classes. Through this scheme, low interest rates and financial help are provided to the backwards class men. The scheme is implemented by the Gujarat Backwards Classes Development Corporation.

Eligibility

1. The applicant should belong to a socially and educationally backwards class. 1. The total annual income of the applicant's family should not exceed ₹3,00,000/-. 1. The applicant's age should be between 21 and 45 years as on the date of application. 1. The applicant must have experience in a business requiring technical and other skills.

Benefits

1. The maximum loan limit under this scheme is up to ₹1,25,000/-. 1. The interest rate in these schemes is 5 percent per annum. 1. In these schemes, 90 per cent of the unit cost will be provided as a loan, with 90 per cent from the national corporation, 5 per cent from the state government, and 5 per cent from the beneficiary contribution. 1. This loan is to be repaid in 48 equal monthly instalments, including interest.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.