Karnataka Shrama Shakti Scheme 2024: Apply Online For Loan, Check Eligibility

Shrama Shakti Scheme: Many residents of the state of Karnataka live in economically disadvantaged circumstances, making it difficult for them to launch their businesses or find suitable work. The Karnataka government launched the Shrama Shakti Scheme to support the state’s emerging entrepreneurs and inspire individuals to launch their enterprises. Under the scheme, Karnataka’s minority community members who wish to launch their enterprises can apply for loans up to rupees 50,000. Minority community members will benefit from technical or artistic skill training via the Sharma Shakti scheme, which will aid in their career planning. Read below to check the detailed information related to the Shrama Shakti Scheme like Highlights, Objectives, Benefits, Eligibility Criteria, Required Documents, Rewards, Steps to Apply for the Shrama Shakti Scheme, and much more.

Shrama Shakti Scheme

Shrama Shakti Scheme 2024

The Karnataka government launched the Sharma Shakti project to assist the state’s minority population in launching their own companies or pursuing entrepreneurial careers. Karnataka Minorities Development Corporation Limited is the primary department responsible for this project. The candidates would receive financial loans of Rs. 50,000 under the Sharma Shakti Scheme, which must be repaid within 36 months. The loan amount will include an additional 4% interest rate. Within the allotted 36 months, the loan balance must be repaid. The other half of the loan will be recognized as a back-end subsidy if the candidate can repay half of the loan amount in 36 months. Additionally, the candidates will receive instruction in technical or artistic talents.

The candidate must be between the ages of 18 and 55, and their annual financial aid cannot exceed 3.50 lakh rupees. The individual is ineligible for the scheme if any member of their family works for the Central, State, or Government Sector Unit.

Karnataka Shakti Scheme

Shrama Shakti Scheme Key Highlights

NameShrama Shakti Scheme
Initiated ByGovernment of Karnataka
StateKarnataka
ObjectiveTo inspire and encourage young people without jobs in Karnataka to launch their own businesses
BenefitsFinancial loan of up to 50,000 rupees
Interest Rate4%
Official Websitehttps://kmdc.karnataka.gov.in/22/shrama-shakthi/en

Shrama Shakti Scheme Objective

In addition to giving other young people employment chances, the primary goal of the Sharma Shakti Scheme is to inspire and encourage Karnataka’s unemployed youth to launch their own companies or become entrepreneurs to advance their careers. Financial constraints prevent them from obtaining suitable jobs, making it difficult for them to provide for their family. The Karnataka government established the Sharma Shakti initiative to provide applicants with financial assistance. Under this scheme, eligible candidates would receive a loan of rupees 50,000, which they must repay within 36 months. The remaining sum of Rs. 25,000 would be recognized as the back-end subsidy if the candidate returns half of the funding.

Kaushalya Karnataka

Shrama Shakti Scheme Reward

  • The candidates would receive financial loans of 50,000 rupees under the Sharma Shakti Scheme, which must be repaid within 36 months.
  • The remaining sum of 25,000 rupees would be recognized as the back-end subsidy if the candidate returns half of the funding.
  • An additional 4% interest rate will be applied to the total loan amount.

Benefits of Shrama Shakti Scheme 2024

Some of the key benefits of the Shrama Shakti Scheme are as follows:

  • The Karnataka government launched the Sharma Shakti project to assist the state’s minority population in launching their own companies or pursuing entrepreneurial careers.
  • The candidates will receive financial loans of Rs. 50,000 under the Sharma Shakti scheme, which must be repaid within 36 months.
  • An additional 4% interest rate will be applied to the total loan amount.
  • Additionally, the candidates will receive instruction in technical or artistic talents.
  • The remaining sum of Rs. 25,000 would be recognized as the back-end subsidy if the candidate returns half of the funding.

Eligibility Criteria

The applicants applying for Shrama Shakti Scheme must fulfill the following eligibility criteria:

  • The candidate needs to live in the state of Karnataka permanently
  • The ideal candidate would come from a minority religion, such as Buddhism, Islam, Christianity, Parsi, or Sikh
  • The candidate must be between the ages of 18 and 55, and their annual financial aid cannot exceed 3.50 lakh rupees
  • The individual is ineligible for the scheme if any member of their family works for the Central, State, or Government Sector Unit.
  • The applicant cannot have a history of defaulting on KMDC loans.
  • Not a single member of the candidate’s family or any other candidate may have benefited from any other KMDCL program during the preceding five years (other than the Arivu Scheme).

Karnataka Swawalambi Sarathi Scheme

Required Documents

Some of the important documents required for the Shrama Shakti Scheme are as follows:

  • Passport Size Photo
  • Aadhar Card
  • Income Certificate
  • Project Report
  • Self Declaration Form
  • Online Application Form
  • Surety Self Declaration Form
  • Bank Account Details
  • Minority Certificate
  • Residence Proof of Karnataka
  • Caste Certificate

Steps to Apply for Shrama Shakti Scheme 2024

To apply for Shrama Shakti Scheme, the user needs to follow the below-given steps:

  • First of all, go to the official website of Karnataka Minorities Development Corporation Limited
  • The homepage of the website will open on the screen
Steps to Apply for Shrama Shakti Scheme 2024
  • Click on the Application Form option
  • The application form will open on the screen

Steps to Apply for Shrama Shakti Scheme 2024

  • Now, enter your Mobile number for verification
  • After that, fill in the form with all the required details like Name, DOB, Annual income, Community, etc.
  • Now, click on the print button and take the printout of the application form
  • After that, attach all the required documents with the application form
  • Finally, submit the form to the District Selection Panel

Contact Details

For further details or in case of any query or complaint related to the Shrama Shakti Scheme, feel free to contact us at the below-given details:

Address:

39-821, 2nd Floor,

K M D C BHAVAN,

Subedar Chatram Road, Sheshadripuram,

Bengaluru – 560020, Karnataka

Phone Number: 080-22860999 & 080-22861226

Email id: kmdc.ho.info@gmail.com

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