Hyderabad: The Telangana government on Monday, May 5, announced that a CIBIL score is essential for availing the Rajiv Yuva Vikasam scheme.
The scheme has been initiated by the state government to provide employment for youth in Telangana. As the CIBIL score becomes crucial, applicants who haven’t taken loans previously are at the risk of being rejected.
The state government has taken steps to collect loan details of the people as part of the implementation of the Rajiv Yuva Vikasam scheme. So far, 16.25 lakh people have applied for the scheme and 40 percent of these applications are likely to be rejected.
Rajiv Yuva Vikasam scheme
Initiated on March 15, 2025, the Rajiv Yuva Vikasam scheme will provide financial assistance to empower youth from SC, ST, BC, and Minority communities in starting self-employment ventures. With loan amounts up to Rs 3 lakh and subsidies ranging from 60-80 percent, this scheme aims to foster entrepreneurship and economic growth.
60 percent subsidy will be given for Rs 3- 4 lakh, and 80 percent subsidy will be given for Rs 2 lakh. 100 percent subsidy will be given for loans of Rs 50000 for small units and small irrigation schemes, regardless of bank link.
Beneficiaries to be trained regarding business operation
In April, Telangana deputy chief minister Mallu Bhatti Vikramarka announced that the beneficiaries of Rajiv Yuva Vikasam scheme would be given training for 3-15 days to ensure successful businesses and higher profits.
During a meeting with the bankers, Vikramarka stated that Rajiv Yuva Vikasam may not be treated as as just another welfare scheme, but as a game changer in the lives of employable youth to become self-employed.
Rajiv Yuva Vikasam beneficiaries to recieve training to run businesses
He urged the bankers to view the scheme on humanitarian grounds and cooperate with the state government by giving credit linkage of Rs 1,600 crore for the well-intended scheme, for which the state government was going to spend over Rs 6,000 crore.
He said that after the state government releases the funds, the bankers should be ready to release their credit linkage funds as well.
Directing the bankers to hold meetings with district collectors soon. The deputy CM said that after the loan sanction letters are given to the beneficiaries, a state level bankers meeting will be held.
