The purpose of the recently introduced Kayaka Yojana initiative in the state of Karnataka is to encourage and facilitate the expansion of self-help groups (SHGs) across the region. The state government will lend money to these organizations from cooperative sector banks under the Kayaka Scheme. By following the instructions to complete the Kayaka Yojane online application form and getting further information here, people can apply for this plan to get an interest-free loan online. We’ll go over key details and advantages of the program in this post, which will be available to qualified women who register.
Kayaka Yojana Karnataka 2023
The Chief Minister of the state of Karnataka has implemented a zero-interest (interest-free) or subsidized-interest loan scheme for women’s self-help groups (SHGs). Cooperative banks may lend up to 10 lakh rupees to Self-Help Groups (SHGs) on behalf of the state government. The Karnataka Kayaka Yojana aims to expand the number of job opportunities for women in the state.
The Chief Minister introduced the Kayaka scheme in the state budget for 2018–19. The state government has implemented a number of people and social security programs, this one is the only one, with the aim of encouraging entrepreneurship and the advancement of individual abilities.
| Scheme Name | Karnataka Kayaka Yojana |
| Scheme Level | State Level |
| State | Karnataka |
| Launch by | Karnataka State Govt. |
| Launched Date | January 2021 |
| Launched By | Karnataka CM HD Kumaraswamy |
| Apply Mode | Online |
| Offered Loan Amount | Not Mentioned |
| Rate of Interest | Up to 5 Lakhs – 0%, Above 10 Lakhs – 4% |
Objectives of Karnataka Kayaka Yojana
The scheme aims to improve self-help groups and women by giving them financial support, opening up job prospects, fortifying SHGs, and in other ways assisting them. The goal of these groups is to increase women’s agency. The SHG’s members will be able to make improvements to their current financial status. It will be easy for them to obtain bank loans.
Benefits of the Kayaka Yojana
- The government assists women and Self-Help Groups (SHGs) in pursuing self-employment. which translates to increased job openings.
- Women can apply for loans under the initiative with ease. The main advantage of the program is that the applicant will receive the loan at no interest.
- By taking part in the initiative, the SHG members will be able to improve their financial circumstances. They’re going to receive financial support.
- There is no interest applied to the loan when the applicant accepts the amount for less than Rs. 5 lakhs. In the event that the amount falls within the range of Rs. 5 lakhs to Rs. 10 lakhs, they will have to pay 4% interest.
- One to ten lakh Indian rupees is the maximum loan amount.
- The state government has made the list of cooperative banks available to the applicant, who can choose to get the loan from one of them.
- The final product that the SHG members have prepared will be bought by the Karnataka State government. As a result, the selected candidates will have access to a steady source of income.
Eligibility Criteria of Karnataka Kayaka Yojana
In order to register for the program, applicants must meet certain requirements set forth by the Yojana.
- Those who have chosen to reside permanently in Karnataka are qualified to apply for this program.
- The Self Help Group participants were the target audience for the plan.
- All Karnataka-based SHGs that have been approved by candidates are welcome to participate in this Yojana.
- It is necessary for the candidate’s household to earn less than Rs. 20,000 in total every month. They are not eligible to register under the scheme if they possess more than twenty thousand.
How to Apply for the Karnataka Kayaka Yojana
The state government has previously stated that participation in the initiative will require interested candidates and self-help organizations to register on the official website. They will not be able to access the digital registration form if they do not have this.
After the online form is made available, applicants must complete the needed steps in order to apply for the loan.
The state administration has not provided any additional details regarding the enrolling process itself. We will update this site with pertinent information about them as soon as they are made accessible. After completing the preliminary registration, applicants will get the loan amount in separate bank accounts.
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