Assam: Hailakandi administration gears up to implement SWAYEM Yojana

Under this programme,  one lakh youth will be provided suitable credit support for taking up income generating enterprises.

Hailakandi

Hailakandi district administration is geared up to implement Swami Vivekananda Assam Youth Empowerment (SWAYEM) Yojana.

Under this programme,  one lakh youth will be provided suitable credit support for taking up income generating enterprises. The loan amount will be up to Rs.1 lakh for new business enterprises and up to Rs.2 lakh for existing ones. The Government of Assam will provide 20% subsidy and will set up ‘Risk Fund’ with selected banks to facilitate advance loans by the banks sans any recovery related issues. Rs 200 crore has been earmarked in the 2017-18 budget towards 20% subsidy and Rs.100 crore for risk fund.

The district administration has convened a meeting with the branch managers of selected banks and the Lead District Manager on Monday to facilitate smooth flow of the scheme for the eligible youth of the district for taking up income generating enterprises in the manufacturing, trading and service sectors.

“As desired by the state government, the sanctioning process should be completed by January 5 for the applications already received by the banks, ” said District Development Commissioner FR Laskar, adding that the selected banks have been asked to process and sanction loans as per guidelines provided in the scheme.

For claim of subsidy, the banks have been asked to submit an authorisation letter from the nodal officer of the concerned bank for the purpose.