Rajiv Yuva Vikasam Scheme: Notification for individuals who have applied for the Rajiv Yuva Vikasam Scheme. A CIBIL score will be required in order to be eligible for loans under this program. According to officials, applicants having a low CIBIL score and a history of loan delinquency may have their applications denied. Over 16 lakh applications have been submitted for this program thus far. The manual level of inspection has been finished. Soon, the list of qualified applicants will be made public.

It is well known that Revanth Reddy’s government is carrying out the Rajiv Yuva Vikasam Yojana to give unemployed youngsters from Telangana’s minority communities, SC, ST, and BC, the opportunity to work for themselves. Through this program, young people who wish to start their businesses will receive financial support. Banks would authorize subsidized loans between Rs. 50,000 and Rs. 4 lakh. On June 2, which is State Formation Day, the government plans to approve loans to the recipients. This year, the government plans to use this program to help roughly 5 lakh people.

Major Update and Mandatory:
The Rajiv Yuva Vikasam scheme would depend heavily on the CIBIL score.It is possible that applicants with poor CIBIL scores would have their loans denied among the recipients who have registered for the program. It appears that applications from people who have previously taken out and not returned personal, auto, house, or agricultural loans will not be taken into consideration either. Officials anticipate that roughly 60% of people will qualify if those with low CIBIL scores and defaulters who have not paid interest or loans are eliminated.

For this initiative, bank personnel will need to verify each applicant’s CIBIL score. For this process, some banks have chosen to charge between Rs. 100 and Rs. 200 for every application. The government has previously been notified of this by bank representatives. Even if each application costs Rs. 100, the banks will still get almost Rs. 16 crore from the more than 16 lakh applications that were submitted. However, Deputy CM Bhatti Vikramarka will be made aware of this fee collection request from the banks by SC welfare officials. During the State Level Bankers Committee (SLBC) meeting, the government will request that banks forego the cost of checking a customer’s CIBIL score.

Also Read: Trump’s 100% Tax Shocks Telugu Film Industry in the U.S.

Throughout the state, 16,25,441 applications were submitted for this program. There were 5,35,666 BCs, 2,95,908 SCs, 1,39,112 STs, 23,269 EBCs, 1,07,681 minorities, and 2,689 Christian minorities among them. Officials at the mandal level have reviewed 70% of the applications thus far. The bank personnel will review them and choose the qualified applicants once the verification process is over. By the end of this month, the collector will receive the list of qualified applicants from the mandal officials. The final list will be made public and sent to the government later.

Share

• 
• 
• 
• 
• 
•