Shri Vajpayee Bankable Yojana: Cottage industries play a pivotal role in India’s economic landscape, contributing significantly to employment generation and rural development. These small-scale, decentralized enterprises often operate from homes or small workshops, utilizing local resources and traditional skills. Cottage industries encompass a diverse range of activities, including handloom weaving, pottery, handicrafts, and agro-processing. They not only preserve traditional crafts but also empower local communities by providing sustainable livelihoods. Additionally, cottage industries foster economic inclusivity, especially in rural areas, as they enable individuals to generate income without the need for extensive capital or infrastructure.
Acknowledging this, the Gujarat government launched the “Shri Vajpayee Bankable Yojana” which encourages people to start their cottage businesses. In this article, we are going to talk about the scheme in detail. Also Read About Shri Vajpayee bankable Yojana launched date 2024, Vajpayee bankable Yojana bank list, Vajpayee bankable yojana interest rate, Vajpayee bankable yojana status check, Vajpayee bankable yojana gujarat form pdf and Shri Vajpayee bankable Yojana launched date Gujarat
What is Shri Vajpayee Bankable Yojana?
Shri Vajpayee Bankable Yojana is a financial assistance scheme for the unemployed youth of urban and rural areas. This scheme was launched by the Gujarat Government in 2009. Under the scheme, the Gujarat Government will financially support the craftsmen in Cottage Industries. The subsidy ceiling for any sector per beneficiary, in the case of a visually impaired or differently-abled individual, is set at ₹1,25,000. You should be within the age limit of 18-65 years to take the benefit of the scheme. For the urban and rural areas, the subsidy percentage varies. To understand more about the subsidy structure, you are advised to read the complete article.
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| Shri Vajpayee Bankable Yojana 2024 Key Highlights | |
| Shri Vajpayee Bankable Scheme Launch Date | 2009 |
| Shri Vajpayee Bankable Yojana Official Website | VBY Portal |
| Shri Vajpayee Bankable Scheme Objective | To provide financial assistance to the unemployed youth of Gujarat living in Urban and Rural Areas. |
| Shri Vajpayee Bankable Scheme Beneficiary | Unemployed youth of Gujarat living in Urban and Rural Areas. |
| Shri Vajpayee Bankable Yojana Maximum Loan Amount | Rs 8 Lakh |
| Shri Vajpayee Bankable Yojana Subsidy Percentage | 40% Maximum |
| Shri Vajpayee Bankable Yojana Subsidy Amount | Rs 1,25,000 (Maximum) |
| Shri Vajpayee Bankable Department | Finance Department |
| Shri Vajpayee Bankable Yojana Age Limit | 18-65 years |
| Shri Vajpayee Bankable Yojana Income Limit | No Income Limit |
| Shri Vajpayee Bankable Scheme Mode of Application | Both Online and Offline |
| Shri Vajpayee Bankable Yojana Customer Care | 9909926280 / 9909926180. |
Shri Vajpayee Bankable Yojana Objective
- This scheme is designed to offer financial support to craftsmen in Cottage Industries, facilitated through Nationalized Banks, Cooperative banks, Public sector Banks, or Private Banks.
- The primary objective is to provide self-employment opportunities to both urban and rural unemployed individuals, including those with disabilities and visual impairments.
Shri Vajpayee Bankable Yojana Benefits
Shri Vajpayee Bankable Yojana provides various benefits to the applicant. The Shri Vajpayee Bankable Scheme offers a range of benefits to applicants, including:
- Subsidy: Applicants are eligible for a subsidy of Rs 1,25,000 when initiating a business.
- Loan Amount: Banks provide a maximum loan amount of Rs 8,00,000 to beneficiaries.
- No Income Limit: There is no income limit for application, eliminating barriers for those who may have hesitated due to income restrictions in other schemes.
- Wide Age Limit: The scheme accommodates a broad age range, making it inclusive for individuals seeking to establish their ventures from the comfort of their homes.
- Versatile Loan Usage: Beneficiaries can utilize the loan for ventures in industries, services, or business sectors.
Shri Vajpayee Bankable Yojana Subsidy Amount
Here is the complete Shri Vajpayee Bankable Scheme subsidy amount list that will be given to the urban and rural unemployed youth of Gujarat.
Maximum Subsidy Percentage
| Area | General Category | Scheduled Castes/ Scheduled Tribes / Ex-serviceman/Women/ blind or handicapped having 40% or more disability |
| Rural | 25% | 40% |
| Urban | 20% | 30% |
Maximum Subsidy Amount
| Sector | Limit of Subsidy Amount |
| Industries | Rs. 1,25,000/- |
| Service | Rs. 1,00,00/- |
| Business | General Category: Urban- Rs. 60,000/- Rural Rs. Rs. 75,000/- |
| Reserve Category: Urban/ Rural Rs. 80,000/- |
Shri Vajpayee Bankable Yojana Eligibility Criteria
- Age: Applicants must be between 18 to 65 years old.
- Qualification: The minimum educational requirement is passing standard fourth. OR
- Training/Experience: Candidates should have either undergone a minimum of three months of training from private establishments or a minimum of one month from government-recognized institutes in the relevant business area. Alternatively, individuals can qualify if they possess a minimum of one year of experience in the same craft. Hereditary craftspersons are also eligible.
- Income Criteria: There is no specific income criterion for eligibility.
This scheme strives to enhance economic opportunities for a diverse range of individuals, fostering entrepreneurship and inclusivity in both urban and rural settings.
Shri Vajpayee Bankable Yojana Documents Required
- Copy of Aadhar card
- Certificate of Vocational Training
- Educational qualification certificate
- Caste certificate
- Proof of address
- Photocopy of passport-size photo
- Documentation verifying applicant details
- Bank account passbook
- School or college identity card
- Proof of business location
Shri Vajpayee Bankable Yojana How to Apply Online
To initiate the application process for the Shri Vajpayee Bankable Yojana, follow the steps below:
- Visit the official website of Shri Vajpayee Bankable Yojana
- Click on the Registration Tab. Complete the registration by undergoing the mobile OTP authentication process.
- Fill in your details in the Citizen Register, including your name, email, password, and captcha code. Finalize the registration process by clicking on “Register.”
- Provide applicant-specific information, such as Aadhar Number, Address, and other relevant details aligned with official documents.
- Input additional information concerning Project Details, Business Details, Finance Required, Project Costs, and details of any relevant Experience or Training.
- Click on “Save & Next” to progress through the application.
- Ensure to upload all necessary documents as specified in the application process.
- You can log in to the portal once you complete the application or if you leave the applicant form in between while filling you can log in and complete your application form.
By diligently following these steps, you can seamlessly navigate through the application process for the Shri Vajpayee Bankable Yojana, securing your opportunity for financial assistance in Cottage Industries.
Shri Vajpayee Bankable Yojana How to Apply Offline
- Visit the official website of Shri Vajpayee Bankable Yojana.
- Read all the instructions carefully and then scroll down to see the application form
- Download the Application Form for the Shri Vajpayee Bankable Scheme.
- Complete the application form with the necessary information.
- Attach all the required documents along with the filled-out form.
- Reach out to the nearest District Industries Center for submission.
- Verify the location of the nearest District Industries Center by clicking on the designated link.
- The Shri Vajpayee Bankable Yojana Subsidy Form is also available which you need to fill in once your application is accepted.
Shri Vajpayee Bankable Yojana Check Application Status
- Visit the official website of Shri Vajpayee Bankable Yojana.
- Click on the “Application Status” tab.
- Enter the Application Number and Date of Birth along with the Captcha.
- Click on the “View” tab and you will be able to check your application status.
Shri Vajpayee Bankable Yojana FAQs
What is the primary objective of the Shri Vajpayee Bankable Scheme?
The scheme aims to provide self-employment opportunities to unemployed individuals in both urban and rural areas of Gujarat. It is inclusive, allowing disabled and blind persons to benefit as well.
What are the educational qualification requirements for the Vajpayee Bank Scheme?
Applicants need to have at least a Class-IV (four) pass qualification. Alternatively, they should undergo a minimum of 3 months of training from a private institution or one month of training from a government-recognized institution. One can also qualify with at least one year of relevant experience in the trade or by being a heritage craftsman.
What is the age limit for obtaining a loan under Vajpayee Bank Scheme?
The age limit for applicants is between 18 to 65 years.
What is the maximum loan facility available through the bank under Vajpayee Bank Scheme?
Through the B.L.P. portal, applicants can avail loans up to 8 lakhs for the industry/services/trade sector.
Which businesses are not supported under the Vajpayee Bank Scheme?
Businesses related to meat processing/canning or selling/serving of intoxicants, crops/arable farming, fisheries, pig rearing, and any project causing environmental issues or prohibited by law are not supported.
How can one apply online through the BLP portal?
Visit the official website of Shri Vajpayee Bankable Yojana
Click on the Registration Tab. Complete the registration by undergoing the mobile OTP authentication process.
Fill in your details in the Citizen Register, including your name, email, password, and captcha code. Finalize the registration process by clicking on “Register.”
Provide applicant-specific information, such as Aadhar Number, Address, and other relevant details aligned with official documents.
Input additional information concerning Project Details, Business Details, Finance Required, Project Costs, and details of any relevant Experience or Training.
Click on “Save & Next” to progress through the application.
What should be done if the password is forgotten?
Visit the official website of BLP Portal and click on the ‘Open 12th’ link. Go to ‘Bankable Registration’ and click on the login button. Choose ‘Reset Password,’ enter the registered mobile number and captcha, and click on the reset button. The new password will be sent via SMS to the registered mobile number.
What financial agencies are involved?
Financial agencies include nationalized banks, regional rural banks, cooperative banks, public sector banks, and private banks.
Can an entrepreneur submit more than one project?
No, an entrepreneur can submit only one project.
Can the project be jointly financed from two different sources (Banks/Financial Institutions)?
No, joint financing from two different sources is not allowed.
Is there a help desk number for this scheme?
Yes, assistance can be obtained by calling 9909926280 / 9909926180.
What is the contribution of the beneficiary in this scheme?
The contribution varies:
General category: 10%
Scheduled Caste/Scheduled Tribe/Ex-Serviceman/Female/40% or more blind or disabled: No contribution required.
