The scheme aims to promote self-employment among unemployed youth in the state by providing affordable loans for purchase of e-rickshaws, thereby enhancing their livelihoods. Under this scheme, loans are provided to unemployed youth for purchase of e-rickshaws at an annual interest rate of 9%.
About This Scheme
The scheme βE-Rickshaw Kalyan Yojanaβ was launched by the Cooperative Department, Government of Uttarakhand. The scheme aims to promote self-employment among unemployed youth in the state by providing affordable loans for the purchase of e-rickshaws, thereby enhancing their livelihoods.
Benefits
Under this scheme, loans are provided to unemployed youth for the purchase of e-rickshaws at an annual interest rate of 9%. Additionally, under the Pradhan Mantri Suraksha Bima Yojana, savings account holders receive an insurance cover of βΉ2.00 lakh for an annual premium of βΉ12/-.
Beneficiaries aged between 18 and 50 can also avail benefits under the Pradhan Mantri Jeevan Jyoti Bima Yojana by paying a premium of βΉ330/- through their savings accounts.
Eligibility Criteria
The applicant must be a permanent resident of Uttarakhand.
The applicant should be currently unemployed.
The applicant must possess a valid driving license.
The applicant must not be more than 55 years of age.
Application Process
Apply Offline
To obtain a loan for purchasing an e-rickshaw, applicant must visit the nearest cooperative bank and collect the application form. It is mandatory for the applicant to open an account with the respective cooperative bank, and both the applicant and two guarantors must be designated as nominal members of the bank.
The application form must be submitted along with the following documents: a dealerβs quotation, details of two guarantors, a permanent residence certificate, Aadhaar card, bank account statement from the relevant bank, voter ID card with a local address, electricity or water bill in the applicantβs name, and a valid driving license. Unemployed individuals residing in urban, semi-urban, or rural areas who are renting a house must also provide a tenancy certificate along with the Uttarakhand Permanent Resident Certificate.
Once the application and documents are submitted, the bank reviews and approves the loan. Upon approval, the bank disburses the funds directly to the dealer. The applicant is then required to repay the loan in daily or monthly installments, along with interest at an annual rate of 9%.
Official Source: View on myScheme.gov.in