Mukhyamantri Yuva Udyam Vikas Abhiyan: If you are a resident of Uttar Pradesh, young, and have the passion to do something big, but the financial situation is coming in the way, then there is nothing to worry about. The Yogi government of Uttar Pradesh is running a special scheme for you. The name of the scheme is Mukhyamantri Yuva Udyam Vikas Abhiyan.

Under this scheme, the UP government is giving interest-free loans of up to ₹ 5 lakh to the youth to start their own business. If you also want to take advantage of this scheme, then know the terms and conditions here. This scheme is a great opportunity to make the youth self-reliant and make their dreams come true.

Interest-free and guarantee-free loans

Under the Mukhyamantri Yuva Udyam Vikas Abhiyan, the government aims to make 10 lakh youth of the state entrepreneurs. Under the scheme, the youth will be given a loan of up to ₹ 5 lakh for 4 years. This loan is completely interest-free and guarantee-free. That is, for this the borrower will neither have to pay any interest nor worry about the collateral.

If the borrower successfully repays a loan of up to ₹ 5 lakh within 4 years of application, he will get a chance to take a loan of up to ₹ 10 lakh. On this, 50 percent i.e. up to ₹ 5 lakh will be interest-free. This scheme frees the youth from the financial burden and helps them to grow their business faster.

What is the eligibility

  1. Only the youth who are natives of Uttar Pradesh can avail the benefits of this scheme.
  2. The minimum educational qualification should be 8th pass, intermediate or its equivalent will be preferred.
  3. The age should be between 18 years to 40 years.
  4. The applicant should not be declared a defaulter by any bank or financial institution.
  5. He should not have previously availed the benefit of any self-employment scheme run by the central government or the state government.
  6. The applicant or any member of his family will get the benefit under the scheme only once.
  7. It is necessary to give an affidavit regarding fulfilling the eligibility conditions.

How to apply

If you want to take a loan from the government under Chief Minister Yuva Udyam Vikas Abhiyan, then you have to visit the official website of the MSME department of the UP government https://msme.up.gov.in. Here you can see all the information related to this scheme in detail. After this, you have to fulfill all the mandatory conditions. Apart from this, you can also apply through various banks. This process is simple and accessible.