The year 2020 has been a massive frameshift in terms of governmental policies and the way certain schemes have been implemented in the country. With the onset of the Covid pandemic and millions of people losing their jobs, while mandatory lockdowns being imposed, offering help to the poor got all the more difficult.

While those from the middle and upper classes of the society managed their way through the pandemic riding on the shoulders of savings and investments, the poor and financially marginalized found themselves in a fix all the more.

Paying heed to the plight of millions, the government of Bihar has announced the Mukhyamantri Alpsankhyak Rojgar Rin Yojana 2020. According to the implementation of this scheme, applicants will get to avail of a loan ranging from ₹1 lakh to ₹5 lakh, depending on the need of the person, and the applicant will be able to return the loan in 20 easy installments.

How can one apply for the Mukhyamantri Alpasankhyak Rojgar Rin yojana 2020?

In order to apply for the scheme, the procedure goes like this:

  1. Visit the nearest governmental bank near you in Bihar.
  2. Request for the application form of CM Minority Employment loan scheme.
  3. The application form would have details that the applicant would have to read carefully.
  4. Fill in the essentials required by the form like name, father or husband’s name, date of birth, gender, religion, caste, and other information. The applicant is expected to also attach physical proof of documents supporting the information stated on the form.
  5. After this, the applicant would have to submit the application form back to the bank.

Interview dates:

The interviews will be held on the following dates at the following venues:

VenueDate
Interview in Gaya11-14 December 2020
Interview in Samastipur10-23 December 2020

Eligibility criteria

  1. The applicant’s age should be between 18-50 years.
  2. The scheme benefits can be availed from the district of permanent residence only.
  3. The loan amount issued to the applicant can only be used for employment and for income generation only.
  4. The applicant must not be in government or even semi-government service.
  5. The applicant must be from a minority community. Except for Muslims, applicants of all other beliefs like Christians, Sikhs, Parsis, Buddhists, and Jain need to produce religious belief certificates from respective religious institutions.
  6. The annual family income of the applicant needs to be less than ₹4 lakhs
  7. The income and residence certificate of the applicant should be issued by a competent authority like SDO, BDO, CO, etc.

Benefits of the scheme

  1. The loans will be offered to minority communities.
  2. The maximum loan amount offered will be ₹5 lakh.
  3. The money would be transferred to the account of the applicant via RTGS in a secure manner.
  4. The interest of the loan after 3 months moratorium is 5% simple interest on the loan amount.
  5. The loan amount of 20 equal quarterly installments would have to be paid.
  6. If the entire loan amount is returned as per the scheduled time, a waiver of 0.5% on the outstanding interest will be given to the applicant.

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