The Industries department is offering special schemes, including provision for loans at 4% interest rate, for those starting new ventures in the current financial year, which is being observed as entrepreneurship year.
The decisions regarding the schemes were taken at a meeting of heads of various banks chaired by Industries Minister P. Rajeeve on Tuesday. Banks extended their support to the department's initiative to aid one lakh new ventures this year.
Loans without bonds will also be part of the special schemes. The technical difficulties faced by cooperative banks in this respect will be looked into. The banks will be provided access to the portal for registration of new entrepreneurs. The government will bear part of the extra burden on the banks in providing loans at lower interest rates. A government order would soon be issued regarding this, said Mr. Rajeeve. He said that as many as 19,000 enterprises had started this year as part of the entrepreneurship programme.
