Advertisement of Atmanirbhar Gujarat Sahay Yojana-2, Loan up to 2.5 lakh at 4% interest

Advertisement of Atmanirbhar Gujarat Sahay Yojana-2, Loan up to 2.5 lakh at 4% interest

Advertisement of Atmanirbhar Gujarat Sahay Yojana-2, Loan up to 2.5 lakh at 4% interest

Following the economic challenge posed by the lockdown and Corona, the Gujarat government today announced Part 2 of the Self-Reliant Gujarat Assistance Scheme. Under the Rs 5,000 crore relief scheme, the government will provide loans of up to Rs 1.5 lakh to small traders and other middle-income earners at an interest rate of 4 per cent without any guarantee.

As per the announcement made by the government, the scheme forms will be available from the co-operative banks from July 1, 2020. This form can be filled and submitted by September 30, 2020. Depending on the eligibility of the applicant, he will get a loan of Rs 1 lakh to Rs 1.5 lakh at 4% interest. Under the scheme, the corporate bank will provide loans at an interest rate of 8 per cent, but the government will pay half of the interest.

Earlier, the government had announced concessional loans of up to Rs 1 lakh to low-income small shopkeepers, artisans and others.

It is the turn of most traders as well as traders to suffer huge losses due to the two-and-a-half months of lockdown. The government recently announced a loan of up to Rs 1 lakh at 2 per cent interest for low-income earners.

Under the scheme, the government will pay six per cent interest, while the borrower will have to pay two per cent interest.