Mizoram state has introduced the Bana Kaih Scheme 2025, a major initiative aimed at empowering small and marginal entrepreneurs. By providing essential financial, technical, and institutional support, the scheme aims to boost economic growth in the region. Small entrepreneurs who are residents of Mizoram can easily apply online through the official portal.
The government has made pivotal changes to the Bana Kaih Scheme in the recent budget, highlighting its commitment to supporting the local entrepreneurial community. If you are a small business owner in Mizoram, this scheme presents a valuable opportunity to enhance your business with the necessary resources.
Increased Budget for Bana Kaih Scheme
During the budget session held on 4th March 2025, Chief Minister Mr. Lalduhoma announced a comprehensive budget of INR 15,198.76 crore. A significant focus was placed on the Bana Kaih Scheme, which saw a 75% increase in funding to a total of INR 380 crore. This substantial financial support aims to effectively assist small entrepreneurs across Mizoram.
Goals of the Bana Kaih Scheme
The primary goal of the Bana Kaih Scheme is to support new entrepreneurs in Mizoram, ensuring they can operate without financial hurdles. The scheme offers collateral-free and interest-free loans up to INR 50 lakh for selected entrepreneurs. It aims to stabilize the market for these new businesses, enabling them to withstand competitive pressures and thrive.
Furthermore, this initiative encourages youth in Mizoram to explore business opportunities irrespective of their financial backgrounds, thus fostering a spirit of entrepreneurship in the state.
Key Highlights of Bana Kaih Scheme
| Key Highlights | Details |
|---|---|
| Name of the Scheme | Bana Kaih Scheme Mizoram |
| Launched By | Mizoram State Government |
| Launch Date | 19th September 2024 |
| Presented By | Mizoram State Government |
| Objective | Provide financial, technical, and institutional support |
| Beneficiaries | Citizens of Mizoram |
| Target Audience | Small entrepreneurs in Mizoram |
| Key Benefits | Collateral-free and interest-free loans, along with additional support |
| Eligibility Criteria | Citizens running small businesses |
| Documents Required | Aadhaar Card, Bank Account details, Business documents |
| Application Process | Online |
| Expected Benefits | Loans up to INR 50 lakh |
| Contact Information |
Eligibility Requirements
- Applicants must be permanent residents of Mizoram.
- Applicants should be operating small-scale businesses.
Financial Aid Details
- Beneficiaries can receive financial assistance up to INR 50 lakh in the form of loans through this scheme.
Necessary Documentation
- Aadhar card
- Bank account statements
- Official business documents
- PAN card
Government Departments Involved
- Agriculture & Farmers Welfare Department
- Animal Husbandry & Veterinary Department
- Commerce & Industry Department
- Cooperation Department
- Fisheries Department
- Horticulture Department
- Information & Public Relations Department
- Irrigation & Water Resources Department
- Labour, Employment, Skill Development and Entrepreneurship Department
- Land Resources, Soil & Water Conservation Department
- Planning & Programme Implementation Department
- Rural Development Department
- Sericulture Department
- Sports & Youth Services Department
- Tourism Department
- Urban Development & Poverty Alleviation Department
Notable Features of the Scheme
- Interest-free Loans: Beneficiaries can access up to INR 50 lakh without any interest.
- Increased Budget: The recent budget allocated INR 380 crore for the scheme.
- Supporting Youth Entrepreneurship: The program aims to inspire a surge in startups among young people.
- Scheme Launch Date: Initiated on 19th September 2024.
How to Apply for the Bana Kaih Scheme
STEP 1: Eligible citizens should visit their nearest bank branch to initiate the application for the Bana Kaih Scheme 2025.
STEP 2: Upon arrival, consult with the bank official and express your requirements.
STEP 3: The bank representative will hand out the application that citizens must complete while attaching required documents.
STEP 4: Submit the completed application form along with documents to finalize the process.
Frequently Asked Questions
What are the benefits available under the Bana Kaih Scheme Mizoram 2025?
Entrepreneurs can access financial and assorted benefits offered by the Mizoram state government through this scheme.
How much budget is allocated for the Bana Kaih Scheme Mizoram 2025?
A budget of INR 380 crore has been allocated for this scheme by the Mizoram state government.
What is the maximum loan amount under the Bana Kaih Scheme Mizoram 2025?
Beneficiaries can avail loans up to INR 50 lakh under this scheme.
Can I apply online for the Bana Kaih Scheme?
Yes, applicants can fill out and submit the application online through the official website.
Are there any collateral requirements for the loans?
No, the loans provided under the Bana Kaih Scheme are collateral-free.
How can I check the status of my application?
You can check your application status by visiting the official website and navigating to the application status section.
