Motor Vehicle Driver-Conductor Welfare Scheme- Chief Minister Self-Employment Scheme for Drivers/Conductors
This scheme aims to support self-employment for registered drivers and conductors by providing financial assistance for the purchase of vehicles to eligible beneficiaries.
About This Scheme
Benefits
> Financial Assistance
₹20.0K
Project Cost: ₹20,000 to ₹10,00,000
Margin Money Subsidy:
₹1.0 L · annual
General Category: 15 percent of project cost, up to ₹1,00,000 (Scheduled Caste, Scheduled Tribe, Other Backward Class (excluding creamy layer) - Below Poverty Line, Women, Minority, and Persons with Disabilities: 30 percent of project cost, up to ₹2,00,000- Interest Subsidy: 5 percent per annum, for up to 7 years, subject to a maximum of ₹25,000 per year- Credit Guarantee Fee: Provided as per prevailing rates for up to 7 years
Non-Financial Benefits
No collateral security required by banks
Priority issuance of permits under the Rural Transport Scheme
Mode of Disbursement
Subsidies are released through the concerned bank directly to the loan account of the beneficiary
Expected Time of Disbursement
Loan applications are disposed of within 30 days
Loan amount is disbursed within 15 days after approval
Validity
The benefit can be availed of only once by an eligible beneficiary
Required Documents
- ✦Passport-size Photograph
- ✦Samagra ID
- ✦Proof of Residence
- ✦Valid Commercial Driving License or Conductor License
- ✦Age Proof Document
- ✦Educational Qualification Certificate (Minimum Class 5, Self-Certified)
- ✦Caste Certificate (If Applicable)
- ✦Below Poverty Line Certificate (If Applicable)
- ✦Disability Certificate (If Applicable)
- ✦Bank Account Details
✦ Required ◦ Optional
How to Apply
Quick Info
- Level
- Central Government
- Max benefit
- ₹1.0 L