Motorcycle Taxi Yojana
The scheme aims to promote self-employment among the residents of Uttarakhand by providing interest-free loans for purchasing motorcycles or scooters to operate as motorcycle taxis, thereby enhancing tourism connectivity and generating livelihood opportunities in the state.
About This Scheme
The scheme “Motorcycle Taxi Yojana” was introduced by the Cooperative Department, Government of Uttarakhand. The scheme aims to promote self-employment among the residents of Uttarakhand by providing interest-free loans for purchasing motorcycles or scooters to operate as motorcycle taxis, thereby enhancing tourism connectivity and generating livelihood opportunities in the state.
Benefits
The applicant will be provided an interest-free loan for a period of 2 years to purchase scooters or motorcycles for transporting tourists/travelers from one place to another at major tourist destinations.
The loan will cover 75% of the total cost or ₹1.75 lakh per scooter/motorcycle, whichever is lower. The remaining 25% of the amount must be arranged by the applicant.
An applicant can purchase a maximum of 10 scooters/motorcycles.
Eligibility Criteria
The applicant must be a permanent resident of Uttarakhand.
The applicant must be at least 18 years old and not more than 55 years old.
The applicant must possess a valid license issued by the Transport Department.
The applicant must not be a defaulter of any financial or cooperative institution.
The applicant must have a minimum CIBIL (Credit Information Bureau India Limited) score of 700 or above.
Application Process
Apply Offline
The applicant will obtain the application form from the cooperative bank in their area to purchase a scooter or motorcycle.
Along with the application form, the following documents must be attached and submitted to the concerned bank: Aadhar card, birth certificate, bank account details, permanent residence certificate, quotation and ex-showroom price of the scooter/motorcycle, driving license, and details of two sureties.
After submission, the applications will be scrutinized and then sent to the District Level Committee constituted under the chairmanship of the District Magistrate/Chief Development Officer. The applications will be presented before the committee for selection.
The applications of applicants selected by the committee will be forwarded to the concerned bank branches through the District Cooperative Bank Head Office. After completing the prescribed formalities, the bank will issue a loan sanction letter, and the sanctioned loan amount will be sent directly to the institution or firm from which the scooter or motorcycle is to be purchased.
The maximum period of the loan will be 3 years. The loan will be recovered in 35 equal monthly installments, starting one month after the date of disbursement.
Official Source: View on myScheme.gov.in
Benefits
The applicant will be provided an interest-free loan for a period of 2 years to purchase scooters or motorcycles for transporting tourists/travelers from one place to another at major tourist destinations.
The loan will cover 75% of the total cost or ₹1.75 lakh per scooter/motorcycle, whichever is lower. The remaining 25% of the amount must be arranged by the applicant.
An applicant can purchase a maximum of 10 scooters/motorcycles.
Application Process
Apply Offline
The applicant will obtain the application form from the cooperative bank in their area to purchase a scooter or motorcycle.
Along with the application form, the following documents must be attached and submitted to the concerned bank: Aadhar card, birth certificate, bank account details, permanent residence certificate, quotation and ex-showroom price of the scooter/motorcycle, driving license, and details of two sureties.
After submission, the applications will be scrutinized and then sent to the District Level Committee constituted under the chairmanship of the District Magistrate/Chief Development Officer. The applications will be presented before the committee for selection.
The applications of applicants selected by the committee will be forwarded to the concerned bank branches through the District Cooperative Bank Head Office. After completing the prescribed formalities, the bank will issue a loan sanction letter, and the sanctioned loan amount will be sent directly to the institution or firm from which the scooter or motorcycle is to be purchased.
The maximum period of the loan will be 3 years. The loan will be recovered in 35 equal monthly installments, starting one month after the date of disbursement.
References & Official Links
Scheme Details
| Full Name | Motorcycle Taxi Yojana |
| Short Title | MCTY |
| Level | State |
| Scheme For | Individual |
| Categories | Business & Entrepreneurship |
| States | Uttarakhand |
| Gender | All |
| Age Range | 75 — 55 years |
| Area | Both |
| Source | myScheme.gov.in ↗ |