The scheme aims to create self-employment for the backward class men. Through this scheme, low interest rates and financial help are provided to the backward class men.
Micro Finance (GBCDC) - Introduction
The scheme “Micro Finance (GBCDC)” by the Social Justice and Empowerment Department, Government of Gujarat, aims to create self-employment for men from the backward classes. Through this scheme, low interest rates and financial help are provided to the backward class men. The scheme is implemented by the Gujarat Backwards Classes Development Corporation.
Benefits
- The maximum loan limit under this scheme is up to ₹1,25,000/-.
- The interest rate in these schemes is 5 percent per annum.
- In these schemes, 90 per cent of the unit cost will be provided as a loan, with 90 per cent from the national corporation, 5 per cent from the state government, and 5 per cent from the beneficiary contribution.
- This loan is to be repaid in 48 equal monthly instalments, including interest.
Eligibility
- The applicant should belong to a socially and educationally backward class.
- The total annual income of the applicant's family should not exceed ₹3,00,000/-.
- The applicant's age should be between 21 and 45 years as on the date of application.
- The applicant must have experience in a business requiring technical and other skills.
Application Process
- Step 1: Visit the gbcdconline.gujarat.gov.in website of the Gujarat Backwards Caste Development Corporation.
- Step 2: On the top menu bar, click on "Apply Online".
- Step 3: If you’re a new user, click on "New Registration". Enter personal details (name, mobile number, email, Aadhaar number, etc.), create a password, and complete OTP verification.
- Step 4: Use your registered credentials (User ID and password) to log in.
- Step 5: Click on "New Application". Select "Micro Finance Scheme" from the list of available schemes.
- Step 6: Fill out the Application Form, entering the following details:
- Personal Information: Name, gender, date of birth, caste, etc.
- Address Information: Permanent and correspondence address.
- Income Details: Monthly family income and source.
- Loan Requirement: Amount needed, proposed use (e.g., business, self-employment).
- Bank Account Details: For loan disbursement.
- Step 7: Upload scanned copies of the Caste certificate, Income certificate, Aadhaar card, passport-size photo, bank passbook (first page), and residence proof.
- Step 8: Double-check all details. Click on "Preview" to verify. If all details are correct, click "Submit".
- Step 9: You will receive an Application ID/Reference Number. Save or print the acknowledgement for future tracking.