Gujarat Shri Vajpayee Bankable Yojana

Scheme Introduction: A Brief Overview

The Gujarat Government runs Shri Vajpayee Bankable Yojana (શ્રી વાજપાઈ બેંકેબલ યોજના) to help unemployed people in urban and rural areas start their own business, trade, or service unit. The Commissioner of Cottage and Rural Industries implements the scheme, and it originally focused on supporting craftsmen of cottage industries. Under this bankable scheme, the applicant takes a business loan from a bank, and the State Government adds a capital subsidy to that loan amount.

The main objective of the scheme is to promote self-employment among unemployed youth and adults, so that they can earn a stable income through their own enterprise rather than depend on wage jobs. The Shri Vajpayee Bankable Scheme also aims to encourage skilled workers, trained persons and hereditary craftspeople to turn their skills into a business. Persons with disabilities can also take benefits under the scheme, which makes it one of the more inclusive self-employment schemes in Gujarat.

Under the scheme, eligible applicants can get a bank loan of up to ₹25 lakh for the Industrial, Service and Business sectors. The government provides a subsidy of 20% to 40% of the loan amount, depending on the applicant's category and whether the unit is in a rural or urban area. Nationalised banks, co-operative banks, public sector banks, and private banks all finance projects under the Gujarat Shri Vajpayee Bankable Yojana.

General category applicants can get a maximum subsidy of ₹3,75,000, while Scheduled Caste, Scheduled Tribe, and Persons with Disability applicants can get a maximum subsidy of ₹5,00,000. Women and ex-servicemen also get a higher subsidy rate of 40% in rural areas and 30% in urban areas.

The eligibility criteria are straightforward. Applicants must be between 18 and 65 years of age and should have passed at least Standard 4, or possess relevant training or practical experience in the proposed business activity. There is no income limit under the scheme. Applications are submitted online through the Bankable Loan Portal. The concerned District Industries Centre (DIC) guides applicants and processes the proposal before forwarding it to the bank for loan sanction.

Like Gujarat Shri Vajpayee Bankable Yojana, the government also runs the Gujarat Chief Minister Mahila Utkarsh Yojana, which offers interest-free loans of up to ₹1 lakh to women through self-help groups to help them become self-reliant. Interested applicants can check the complete scheme details here.

Shri Vajpayee Bankable Yojana Benefits

Under the Shri Vajpayee Bankable Yojana, eligible applicants can avail themselves of the following benefits.

• Bank Loan: Up to ₹25 lakh for Industrial, Service, and Business units.
• Capital Subsidy: 20% to 40% of the loan amount, based on category and area.
• Maximum Subsidy: ₹3.75 lakh for General category and ₹5 lakh for SC, ST, and Persons with Disability.
• Higher Subsidy Rate: SC, ST, Persons with Disability, Women and Ex-servicemen get a higher subsidy rate.
• Wide Bank Network: Nationalised, co-operative, public sector and private banks provide loans.
• No Income Limit: Applicants from any income group can apply.

Subsidy Rate on Loan Amount

The subsidy rate depends on the applicant's category and the location of the business unit.

Maximum Limit of Subsidy

The government caps the subsidy at the following amounts, even if the percentage calculation goes higher.

Eligibility Requirements

To qualify for a loan and subsidy under Shri Vajpayee Bankable Yojana, applicants must fulfil the following eligibility requirements.

• Applicants must be between 18 and 65 years of age.
• Applicants must be unemployed residents of rural or urban areas of Gujarat.
• Applicants must have passed at least Standard 4.
• There is no income limit under the scheme.
• Applicants must meet at least one of the prescribed training or experience requirements given below:
  • Minimum 3 months of training from a private establishment in the proposed business activity, or
  • Minimum 1 month of training from a Government-recognised institute in the proposed business activity, or
  • Minimum 1 year of experience in the same activity, or
  • Hereditary craftsperson.
• Persons with disabilities are eligible to apply.
• The proposed project must fall under the Industrial, Service, or Business sector.

Documents Required

Applicants need to upload their documents on the Bankable Loan Portal while filling the online application for the Shri Vajpayee Bankable Scheme.

• Aadhaar Card
• Educational Qualification Certificate
• Vocational Training Certificate
• Address Proof
• Caste Certificate or Disability Certificate (If Applicable)
• Bank Account Details
• Passport Size Photo

Steps to Apply for Shri Vajpayee Bankable Yojana

Applicants can apply for the Shri Vajpayee Bankable Yojana online through the Gujarat Government’s official Portal. The following steps explain the application process in detail.

• Open the official Bankable Loan Portal.
• Click on Citizen Registration and complete the registration process by entering your mobile number and basic details.
• Verify the OTP sent to your mobile number.
• Log in to the portal using your registered mobile number and password.
• Search for the scheme name Shri Vajpayee Bankable Yojana.
• The application form will display on your screen.
• Enter your personal details, educational qualifications or training/experience details, project and business details, and the loan amount you need.
• Upload all documents that the portal asks for in the prescribed format.
• Review all details carefully and submit the application. Note down the application number for future reference.

Note: Applications remain open as the Shri Vajpayee Bankable Yojana runs on an ongoing basis. Applicants seeking any additional information or assistance related to the scheme may contact their nearest District Industries Centre (DIC).

Verification and Loan Sanction

After submission, the District Industries Centre of your area guides the application, and the bank sanctions the loan, after which the subsidy becomes available on the loan amount as per scheme rules. The concerned authority has not yet released the detailed verification procedure or a fixed timeline for sanction officially.

Relevant Links

• Gujarat Shri Vajpayee Bankable Yojana Registration
• Gujarat Shri Vajpayee Bankable Yojana Login
• Gujarat Shri Vajpayee Bankable Yojana Details
• Commissioner of Cottage and Rural Industries, Gujarat Portal
• Bankable Loan Portal, Gujarat

Contact Information

• Bankable Loan Portal Gujarat Contact Details
• Commissioner of Cottage and Rural Industries, Gujarat Contact Details