Business: Billions of people in India have ration cards and the Modi government has provided free food to about 800 million people under the Annapurna Program. If you also use the free tier of the card, then this news is only for you. Actually, the government not only supplies food grains through ration cards but also provides loans at low interest rates. The loan amount is between Rs 200,000 to Rs 1 million. The interest rate is also much lower than traditional loans. Actually, the Haryana government is implementing such a program in the state. The benefit of this system is applicable only on Below Poverty Line ration cards (BPL cards). The state government runs such programs to facilitate business for BPL cardholders. This loan is offered by the National Scheduled Cost Finance Development Corporation (NSFDC) and is available only to businesses. How can I get a loan on BPL ration card?
Who is this system for?
The Haryana government has launched this scheme especially for the Scheduled Caste BPL card holders. The program is implemented by the Scheduled Caste Financial Development Corporation under the Self-Employment Scheme. Under this program, youth can get a loan of up to ten lakh rupees to start their own business. There is also an interest subsidy that reduces the effective interest rate to 4-6%.
How to apply
You can get more information about your loan from your bank.
Application forms are also available from banks.
Please attach all the required documents and send them to the bank.
Once approved, the bank will provide financing to suit your needs.
This interest is subsidized by the state.
Who can make a BPL ration card?
As mentioned earlier, families living below the poverty line can get a BPL ration card. According to the Haryana government, families with an annual income of less than Rs 180,000 are eligible for a BPL card. The Haryana Government has now linked this card with the Family Identity Card and BPL cards are also being issued online to the individuals.
