The scheme was initiated on 8th April 2015. It offers loans in three tiers: up to Rs. 50,000 under the ‘Shishu’ category; between Rs. 50,000 and 5.0 Lakhs in the ‘Kishore’ category; and between 5.0 Lakhs and 10.0 Lakhs in the ‘Tarun’ category. These loans do not demand any collateral. The intention is to boost the morale of young and trained individuals aiming to become first-time entrepreneurs and to assist existing small enterprises in expanding their operations. As of 31st March 2019, a total of Rs. 3,21,722 crores had been approved across 5.99 crore accounts, divided as Rs. 142,345 cr. for ‘Shishu’, Rs. 104,386 cr. for ‘Kishore’, and Rs. 74,991 cr. for ‘Tarun’.
Info source:
https://financialservices.gov.in/new-initiatives/schemes
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