Govt Scheme: You will get loan up to ₹ 6.5 lakh without interest, Know all details

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There are many schemes of the Narendra Modi government at the center that encourage people to start their own business. One such scheme is Ajeevika Grameen Express Yojana (AGEY). Under this scheme, self-help group or SHG members are given interest-free loan up to ₹ 6.5 lakh. With this, the self-help group will be able to buy vehicles and start safe and affordable transport services in rural areas.

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The scheme started in the year 2017

Ajeevika Grameen Express Yojana was launched in the year 2017. The Government of India decided to keep this scheme as a part of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM). Under DAY-NRLM, self-help groups operate road transport services in backward areas.

how does it work

The scheme uses the Community Investment Fund (CIF) provided to the Community Based Organization (CBO) under DAY-NRLM. The beneficiary SHG member is given an interest free loan of up to Rs 6.50 lakh by the CBO from its Community Investment Fund to purchase the vehicle. Alternatively, the CBO can also take ownership of the vehicle and lease it to the SHG member for running the vehicle and the CBO will receive lease rent.

All vehicles under the scheme have a prescribed colour code. These vehicles have the branding of Ajeevika Grameen Express Yojana to ensure their identification and to avoid them from being diverted to other routes.

The government makes people aware

Let us tell you that the government keeps creating awareness about this scheme from time to time. Efforts are also made to create awareness through social media platforms. In this connection, the Ministry of Rural Development has informed about the scheme on social media platforms.

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