Karnataka Vrutti Protsaha Loan Scheme

Scheme Introduction: A Brief Overview

• Karnataka Government launched a new entrepreneurship scheme called as "Vrutti Protsaha Loan Scheme".
• However, the initiative is not new and replaced the previous Self Employment Scheme of Karnataka Government.
• The main objective behind starting Vrutti Protsaha Loan Scheme is to support the unemployed youth or new entrepreneurs to start their own income generation activity.
• Karnataka Minorities Development Corporation Limited is the implementing agency of this scheme.
• Earlier, Karnataka Self Employment Scheme provided subsidies on starting business activity in which 33% of Project Cost or maximum amount of Rs. 1,00,000/- were provided as a subsidy.
• But now, Vrutti Protsaha Loan Scheme offers a collateral free loan of Rs. 1,00,000/- to eligible beneficiaries, which comprises 50% as a subsidy i.e. Rs 50,000/-.
• Beneficiaries can undertake this loan for various economic activities like : -
  • Agro Based Activities.
  • Starting a New Business.
  • Developing New Business.
  • Service Sector.
  • Small Scale Industries.
  • Any Self Employment Generation Activity.
• The subsidy provided under the Vrutti Protsaha Loan Scheme will be borne by the state government.
• It means, the beneficiaries will have to return only half the amount of loan i.e. Rs. 50,000/-.
• The other half of Rs. 50,000/- will be paid by the Government of Karnataka as a Subsidy under Vrutti Protsaha Loan Scheme.
• Loans offered under the Vrutti Protsaha Loan Scheme will be provided to applicants belonging to minority communities.
• The Annual Family Income Criteria for Beneficiaries under this scheme is Rs. 81,000/- per year in Rural Area and Rs. 1,03,000/- per year in Urban Area.
• Beneficiaries from the Age Group of 18 Years to 55 Years are only eligible to apply for loan under Vrutti Protsaha Loan Scheme.
• Eligible Beneficiaries can apply to avail the benefit of Vrutti Protsaha Loan Scheme before its given deadline.
• Applicants can submit their Vrutti Protsaha Loan Scheme Applications from KMDCL Online Application Management Portal.

Scheme Benefits

• Karnataka Government will provide the following benefits to all selected beneficiaries under Karnataka Vrutti Protsaha Loan Scheme :-
  • Collateral Free Loan of Rs. 1,00,000/-.
  • Loan offers subsidy of Rs 50,000/-
  • Beneficiary need to return 50% of the loan amount i.e. Rs 50,000/-.

Eligibility Requirements

• Beneficiary should be a Permanent Resident of Karnataka.
• The Annual Family Income of Applicant should be :-
  • Rs. 1,03,000/- in Urban Area.
  • Rs. 81,000/- in Rural Area.
• The Age of Beneficiary should be between 18 Years to 55 Years.
• Applicants should not be a Beneficiary of any other KMDCL Scheme.
• Beneficiaries should belong to any one of the minority communities :-
  • Muslims.
  • Buddhism.
  • Sikhs.
  • Christians.
  • Jains.
  • Parsis.
• Any family member of applicants family should not be an employee of the state or central government.

Required Documents

• The following documents are required to be uploaded online at the time of applying for Karnataka Government's Vrutti Protsaha Loan Scheme :-
  • Residence Proof of Karnataka.
  • Aadhar Card.
  • Project Report.
  • Passport Size Photo.
  • Caste Certificate.
  • Income Certificate.
  • Age Proof.
  • Minority Certificate.
  • Bank Account Details.
  • Self Declaration Form.
  • Surety Self Declaration Form.

Steps to Apply

• Minority Community Applicants can apply for Vrutti Protsaha Loan Scheme of Karnataka Government by filling an Online Application Form.
• Online Application Form of Karnataka Vrutti Protsaha Loan Scheme is available on KMDCL Online Application Management Portal.
• Mobile Number and Aadhaar Card is mandatory at the time of application.
• Enter the Mobile Number and Click on Submit to verify it.
• KMDCL Portal will Verify the Mobile Number and Aadhar Card of Applicant through OTP Verification.
• Now Select Vrutti Protsaha Loan Scheme from the scheme list once the OTP verification is done.
• Click on Apply Online and Fill the following details step wise in Vrutti Protsaha Loan Scheme Online Application Form : -
  • Applicant Details.
  • Project Report/ Details.
  • Bank Account Details.
  • Documents Upload.
  • Preview the Form.
• Preview the Application Form thoroughly and then Click on Submit Button to Submit the Application Form of Vrutti Protsaha Loan Scheme.
• Application Form and Documents will be scrutinized thoroughly by the selection panel.
• The Selection Panel will announce the final list of Eligible Applicants who are selected for loan subsidy under Vrutti Protsaha Loan Scheme of Karnataka Government.
• Beneficiary list will be forwarded to bank for sanctioning the loan.
• Applicants can also check the Application Status of Karnataka Vrutti Protsaha Loan Scheme Online.
• KMDCL Online Application Management Portal will remain open for a certain period.
• Eligible Beneficiaries must submit their Vrutti Protsaha Loan Scheme application before its last date.

Important Forms

• Vrutti Protsaha Loan Scheme Self Declaration Form.
• Vrutti Protsaha Loan Scheme Surety Self Declaration Form.

Relevant Links

• Vrutti Protsaha Loan Scheme Online Application Form.
• Vrutti Protsaha Loan Scheme Registration.
• Vrutti Protsaha Loan Scheme Application Status.
• Karnataka Minorities Development Corporation Limited Portal.
• Vrutti Protsaha Loan Scheme Guidelines.
• Karnataka Minorities Development Corporation Limited App.
• Karnataka Minorities Development Corporation Limited District Office Contact Numbers.

Contact Information

• Karnataka Minorities Development Corporation Limited WhatsApp Helpline :- 08277799990.
• Karnataka Minorities Development Corporation Limited Helpline Number :- 080-22860999.
• Karnataka Minorities Development Corporation Limited Helpdesk Email :-
  • kmdc.ho.info@karnataka.gov.in.
  • info.kmdc@karnataka.gov.in.
• Karnataka Minorities Department Corporation Limited,
  No. 39-821, Subedhar Chatra Road,
  Sheshadripuram, Bengaluru,
  Karnataka - 5660001.