“Atmanirbhar Gujarat Sahay Yojana” launched in Gujarat

“Atmanirbhar Gujarat Sahay Yojana” as been launched by the Gujarat Government. The scheme aims to provide an interest subsidy, a moratorium as well as a collateral free loan of up to Rs 1 lakh. All the above facilities has been launched for over a million small traders, street-vendors and small professionals in the state. Gujarat government has a target of lending around Rs 5000 crore via the loan that carries a tenure of 3 years.

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Loans under the “Atmanirbhar Gujarat Sahay Yojana” would be available at 2% annual interest while the remaining 6% interest would be borne by the state government. A moratorium period of 6 months would also be provided to the beneficiary in which he would not be required to pay either interest of principal amount during this time. It means that the re-payment of principal and interest will start after six months of sanction. The loans under the “Atmanirbhar Gujarat Sahay Yojana” would be available via written application at co-operative banks, district banks and credit co-operative societies.

Important takeaways for all competitive exams:

• Chief Minister of Gujarat: Vijaybhai R. Rupani; Governor: Acharya Dev Vrat.

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