Atmanirbhar Gujarat Sahay Yojana (AGSY) 2020 : Apply Online

Atmanirbhar Gujarat Sahay Yojana (AGSY) 2020 (Apply Online, Download form, Eligibility, Loan Amount, Interest rate, check beneficiaries list, who are eligible)

Both the urban and rural financial structures are in a sorry state, due to the dual effects of Coronavirus pandemic, and the following nation-wide lockdown. Poor people do not have adequate liquid cash in their possession for meeting the essential requirements. The central government is aware of the financial crunch situation. Celebrated economists opine that the government must increase the cash flow in the market. The Prime Minister announced the Atmanirbhar Bharat Abhiyan on 12th may, 2020. Two days later, the government of Gujarat announced a new credit scheme that is in line with the new central relief package. The aim of Atmanirbhar Gujarat Sahay Yojana is to provide money, in the credit form, to the eligivle candidates, on short-term basis. In this article, you will learn about the application process, eligibility and document requirements. Additionally, we offer a details report on the primary scheme benefits.

Atmanirbhar Gujarat Sahay Yojana

Launch details of scheme

Name of the scheme

Atmanirbhar Gujarat Sahay Yojana (AGSY)

Launched in

Gujarat

Launched by

Vijay Rupani

Mother scheme launched by central government

Atmanirbhar Bharat Abhiyan

Date of announcement

14th May 2020

Date of implementation

Soon

Target beneficiaries

People falling in lower middle income groups

Mode of application

Online registration mode

Supervised by

Government of Gujarat

Start date21 May 2020
Last date31 Aug 2020
Official portalrcs.gujarat.gov.in/aatmnirbhar-yojna

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Key features of the scheme

1.     Financial assistance – Due to the Coronavirus pandemic, Gujarat residents with limited income, are suffering, due to scarcity of money. The implementation of this project will assist these people to get back on their feet, after the lockdown is called off.

2.     Loan for applicants – The main objective of this project is to offer financial assistance in the form of short-term loan.

3.     Loan amount – The Chief Minister of Gujarat pointed out that the beneficiaries of this scheme will obtain Rs. 1 lakh from the banks as credit.

4.     Interest paid by the borrower – It has been mentioned in the official draft that the borrower will have to pay only 2% interest on the borrowed amount, annually. It will put less financial pressure on the beneficiaries.

5.     Interest paid by the government – The Gujarat government will pay the remaining 6% of the interest to the banks, on behalf of the beneficiaries.

6.     Repayment tenure – Each beneficiary will have to repay the loan by the end of three years, calculated from the date when he/she makes the first repayment deposit.

7.     Repayment starts from – The beneficiaries will not have to pay any interest or principal sum payment for the first six months. The time will be calculated from the day when the loan amount is deposited in the bank account of the applicant.

8.     Mode of money transfer – The state government has decided that all beneficiaries will obtain the credit amount in their bank accounts, via Direct Benefit Transfer method.

9.     Number of beneficiaries – During the official announcement of this project, the Chief Minister of the state pointed out that as many as 10 lakh residents will be able to get the loan benefit.

Eligibility for applicants

1.     Residents of Gujarat – The state government has pointed out that the legal inhabitants of Gujarat will get the opportunity to receive the perks of this project.

2.     Lower middle income group – In general, if the financial income of an individual highlights that he/she falls in the lower-middle income category, then that person will be eligible to apply for this loan.

3.     Auto owners – All the auto drivers, can acquire the loan amount, and sustain their families easily.

4.     Small business owners – If any person operates a small or micro business, then he/she will also be able to apply for the financial assistance, under this project.

5.     Skilled labors – This scheme is open for all the skilled labors, irrespective of their employment sectors.

6.     Barbers – The barbers can also log in on the official portal, and fill in an application to get the financial support.

7.     Electricians – The registered electricians can take advantage of this project.

8.     Bank account is a must – Only DBT mode will be used to transfer the money in the bank account of the applicant. Thus, if any person does not have an access to the bank account, then he/she will not be selected as a scheme beneficiary.

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Documents required for application

1.     Residential document – Every applicant must furnish copies of official residential documents, during enrollment.

2.     Identification documents – A digitized copy of the Aadhar Card of the applicant needs to be attached with the online application form.

3.     Income certificate – Submission of the income certificates by the applicants is necessary. The income documents will be used to determine the financial status of the applicant.

4.     Registration papers of the auto – The auto drivers, must submit copies of their auto ownership documents.

5.     Business ownership details – Documents, highlight the name, address, size and investment of the business, along with the trade license copies, must be attached with the online registration form.

6.     Registration certificate of labors – All the skilled labors, possessing registration certificates from State Labor Association, will be able to obtain the credit sum.

7.     Registration certificate for barbers – If any barber wants to apply for the scheme, he must attach a copy of the certificate, issued by the State Barbers Association.

8.     Registration certificate for electricians – All the electricians, which desire to obtain the credit, must attach their registration certificate, issued by the respective labor association. 

9.     Bank account details – For transparent, smooth and quick transfer of cash in the account, the applicant must attach a document that contains the relevant details of the bank account.

How to apply and register for the project?

  • The Chief Minister of Gujarat, Vijay Rupani has officially announced the Atmanirbhar Gujarat Sahay Yojana recently. He mentioned the key features in details.
  • He also shed light on the eligibility that a person requires to become a beneficiary of this scheme.
  • Firstly click on the official link. You can download form directly from this link – click here

The loan amount is not massive. However, it will offer respite to the financially weak people from fiscal worries. The presence of cash in their hands, will improve their purchasing power. They can procure medicines, and food items, which will help in sustaining them, even if the central government opts for an extended lockdown.

FAQ about the scheme

Is the scheme sponsored by the state government?

Ans: Yes. The Atmanirbhar Gujarat Sahay Yojana has been developed by the Gujarat government. However, the state will receive financial grant from the central government for the successful implementation of this scheme.

Is it a short-term loan scheme?

Ans: Yes. It is a short-term loan scheme, wherein, the applicants will have to repay the credit amount, along with the interest within 3 years.

What is the creditor and state government’s share in the interest rate division?

Ans: It has been highlighted that the creditor will pay 2% and the state government will pay 6% interest to the lending institute.

I am not a permanent resident of Gujarat. Will I get the perks of this loan scheme?

Ans: No. The scheme will be implemented for the residents of Gujarat only.

Is there an official portal for the scheme?

Ans: No. As of now, the Gujarat government is yet to launch a website for this loan scheme.

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