Devaraj Arasu Loan Scheme:-In order to improve the financial status of backward classes both Central and state government implements various kinds of schemes. Through these schemes, financial assistance is provided to the beneficiaries. Recently the Government of Karnataka has also launched a scheme called the Devaraj Arasu Loan Scheme. Through this scheme loans will be provided for setting up self-employment opportunities. This article will cover complete information regarding the Devraj Arasu loan scheme 2024. You will get to know how you will be able to apply online under the scheme. Other than that you will also get to know about other important aspects of the scheme
Overview of Devaraj Arasu Loan Scheme
The Government of Karnataka has launched the Devaraj Arasu Loan Scheme. Through this scheme, the government is going to provide financial assistance of up to Rs 50000 per beneficiary for self-employment activities under business, service agriculture, and allied activities. The government is going to provide 10% or a maximum of Rs 10000 subsidy. Beneficiaries are only required to pay the remaining loan amount at 4% interest per annum. With the implementation of this scheme now citizens of the state will not be required to depend on anyone for financing their business. For those individuals who are living in rural areas the annual income should not exceed Rs 98000 and for those citizens who are living in urban areas the annual family income should not exceed Rs 120000
Also Read: Karnataka Yuva Nidhi Scheme
The objective of the Devaraj Arasu Loan Scheme
- The main objective of the Devaraj Arasu Loan Scheme is to provide loans to the citizens of backward classes who want to set up their business activities
- Under the scheme, loan amounts up to Rs 50000 will be provided to the beneficiaries at a nominal interest rate
- The government will also provide subsidies on the loan
- With the implementation of this scheme now citizens of the state will not be required to depend on anyone for financing their business
- The Government of Karnataka is going to provide them with financial assistance
- This scheme will improve the standard of living of the beneficiaries
- The unemployment ratio of the state will also be decreased
Key Highlights of Devaraj Arasu Loan Scheme
| Name of the scheme | Devaraj Arasu Loan Scheme |
| Launched by | Government of Karnataka |
| Scheme Start Date | 2 October |
|---|---|
| Beneficiary | Citizens of Karnataka |
| Objective | To provide loan |
| Official website | dbcdc.karnataka.gov.in/ |
| Year | 2024 |
| State | Karnataka |
| Mode of application | Online |
Eligibility Criteria
- Applicant must be a permanent resident of Karnataka
- The age of the applicant should be between 18 to 55 years
- The annual family income of the applicant living in rural areas to not exceed Rs 98000 and in urban areas should not exceed Rs 1,20,000
Also Read: Swami Vivekananda Yuva Shakti Yojana
Benefits of the Scheme
- Devaraj Arasu Loan Scheme has been launched by the government of Karnataka
- Through the scheme,, loans will be provided to eligible beneficiaries
- The amount of this loan will be up to Rs 50000
- The government will also provide subsidies on the loan
- The amount of subsidy will be up to Rs 10000
- Beneficiaries have to pay a nominal amount of interest at 4% per annum
- With the implementation of this phone now beneficiaries are not required to depend on anyone to finance their business
- The Government of Karnataka is going to provide them with financial support
List of Loan Scheme
- NBCFDC Schemes ( Term Loan, Education Loan, Mahila Samriddhi Micro Finance Scheme For Women, Micro Finance, Small Loan For Individual )
- Karnataka Savitha Samaja
- Karnataka Madiwala Machideva
- Karnataka Self Employment Scheme
- Karnataka Madivala Machideva Gangakalyana Scheme
- Madivala Machideva Arivu
- Chaitanya Subsidy Cum Soft Loan
- D Devaraj Urs Individual Loan Scheme
- Micro Credit Scheme
- Assistance To Traditional Artisans And Occupational Groups
- Ganga Kalyana Irrigation Scheme
- Arivu Education Loan Scheme
- Interest-Free Loan For Higher Education In Foreign University
Also Read: Karnataka Crop Loan Waiver Status
Required Documents
- Aadhar card
- Income certificate
- Proof of age
- Passport size photograph
- Mobile number
- Email ID etc
Devaraj Arasu Loan Scheme Apply Online 2024
- First of all, you have to go to the official Devraj Arasu Loan website
- The homepage will appear on your screen
- On the home page, you are required to click on the Devaraj Arasu loan scheme
- You will be redirected to a new page
- On this page, you have to enter all the required details
- After that, you have to upload all the required documents
- Now you have to click on submit
- By following this procedure you can apply under the scheme
Contact Details
- To check the contact details beneficiaries are required to click here
FAQs
The Government of Karnataka has launched the Devraj Arasu loan scheme. Through this scheme, financial assistance will be provided to the beneficiary
Financial assistance up to Rs 50000 will be provided through this scheme. This financial assistance will be directly credited into the bank account of the beneficiary
Yes, the government will provide subsidies up to Rs 10000 under the scheme. The beneficiary has to pay interest on the remaining amount at 4% per annum
Yes, there is an age limit to get the benefits of this scheme. The age of beneficiary should be between 18 to 55 years