Rajasthan News

Yuva Udyamita Protsahan (YUPY) scheme to make 1000 entrepreneurs

by RajasthanDirect
Jun 28, 2013

The state will soon witness thousands of entrepreneurs opening their ventures making a investment of nearly Rs 500 cr under Yuva Udyamita Protsahan (YUPY) scheme initiated by the Rajasthan Financial Corporation. Over 1,000 applicants have been selected for soft loans to start their project. The first 20 were given the cheques by chief secretary CK Mathew on Thursday.

The projects which impressed the jury include agri-warehousing, manufacturing of rose oil, medical furniture, production of modern artifacts among others.

“The main aim of the scheme, announced in the state budget 2013-14, is to promote new and young entrepreneurship in the state. RFC will provide collateral free loan to entrepreneurs below 35 years of age within a range of Rs 25 lakh to Rs 1 crore,” said Yaduvendra Mathur, chairman & managing director, RFC.

Selected applicants went through a two-stage screening. Experts from reputed educational institutions, industry professionals and members of other state financial corporations evaluated the business plans of the applicants. The first 1,000 candidates will have to submit their detailed project report (DPR) by July 31. All projects will be based in Rajasthan with RIICO providing the land for the units.

Addressing the successful applicants, CK Mathew urged them to give their best as lots of stakes are involved in providing loans at nominal rates. “The RFC has gone beyond its mandate and set an example of out-of-box thinking. It is a golden opportunity for all of you to make a start in life. There is possibility that one of the ventures may become big MNC tomorrow,” said Mathew.

Selected applicants come from diverse background with many of them keen on setting up manufacturing plants.

Sumit Mundra, an IIT graduate who also worked in US for several years was selected for his business plan of manufacturing solar water heater in Udaipur. “So far we don’t have a single water heater manufactured specifically for the Indian market. My aim is to provide solar heater at competitive price with effective post sales services,” said Mundra.

Jaya Gehlot, a chartered accountant, proposed to set up a cold storage in Jodhpur. “We conducted a market research in the region and found that there is huge demand supply gap of perishable products like flowers and medicines. Our cold storage will have different segments rather than just going for single product,” said Gehlot.

src: http://timesofindia.indiatimes.com/city/jaipur/1000-innovative-youths-get-loan/articleshow/20806192.cms

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One Response

Jugal Says

I select in first round and second round. can you eligible fore price.