AI SummaryMicro Finance (GBCDC) is a state-level scheme of the Government of Gujarat that offers low-interest micro credit to men from backward classes so they can start self-employment ventures. The scheme is run by the Social Justice and Empowerment Department and is implemented through the Gujarat Backwards Classes Development Corporation.
Under this scheme, eligible men can get a loan of up to ₹1.25 lakh at just 5% annual interest. The loan has to be repaid in 48 equal monthly instalments, and the repayment amount already includes the interest. Applications are accepted online through the official GBCDC portal.
Micro Finance-GBCDC - Introduction
Micro Finance (GBCDC) is a micro-credit scheme made for men belonging to socially and educationally backward classes in Gujarat. The main aim is to help these men set up their own small business and become self-employed instead of depending on others for work.
The scheme covers a large part of the unit cost of the business. Around 90% of the unit cost is given as a loan from the National Corporation, 5% comes from the State Government, and the remaining 5% is the beneficiary's own share. This funding pattern keeps the burden on the applicant low.
Because the interest rate is only 5% per year and the tenure is spread over 48 months, the monthly repayment stays manageable for a small business owner. The scheme is open to men who have some experience in a business that needs technical or vocational skills.
Key Information
| Key Parameter | Details |
|---|---|
| Scheme Name | Micro Finance (GBCDC) |
| Level | State |
| Scope | Individual |
| Beneficiary State | Gujarat |
| Nodal Agency | Social Justice and Empowerment Department |
| Category | Banking, Financial Services and Insurance, Social Welfare and Empowerment |
| Benefit Type | Cash Loan |
| DBT Enabled | No |
Benefits
The scheme gives financial support to help a man start or grow a small business. The key benefits are listed below.
| Benefit Feature | Details |
|---|---|
| Maximum Loan Amount | ₹1,25,000 |
| Interest Rate | 5% per annum |
| Repayment Tenure | 48 equal monthly instalments |
| Funding Pattern | 90% National Corporation, 5% State Government, 5% Beneficiary |
Eligibility
To apply under this scheme, an applicant has to meet the conditions given below.
- The applicant should belong to a socially and educationally backward class.
- The total annual family income should not be more than ₹3,00,000.
- The applicant should be between 21 and 45 years of age on the date of application.
- The applicant should have experience in a business that requires technical or specific vocational skills.
Application Process
Applications are submitted online through the official GBCDC portal. Follow the steps below to complete the process.
STEP 1 - Visit the official GBCDC portal.
STEP 2 - Select Apply Online from the top navigation menu.
STEP 3 - If you are a new user, complete the New Registration process by providing your mobile number, email, and Aadhaar card details.
STEP 4 - Once registered, log in using your unique User ID and Password.
STEP 5 - Go to New Application and choose Micro Finance Scheme from the menu.
STEP 6 - Fill out the application form with your personal details, income proof, bank information, and business requirements.
STEP 7 - Attach the required documents in the specified digital format.
STEP 8 - Review the application using the Preview feature before pressing the Submit button.
STEP 9 - Save the Application ID so you can track the status of your application later.
Documents
Keep these documents ready before you start the online application.
- Valid Identity Proof
- Recent Address Proof
- Caste Certificate
- Income Certificate
- Bank Passbook (first page)
- Passport-size Photographs
References
More details and official updates can be found through the links below.
FAQ's
What is the objective of Micro Finance (GBCDC)?
It is a micro-credit scheme that helps men from backward classes generate self-employment through low-interest loans.
Who qualifies for this financial aid?
Any man from a socially and educationally backward class who meets the income and age criteria can apply.
Is there an age limit for applicants?
Yes, the applicant should be between 21 and 45 years old when applying.
Is experience mandatory for the loan?
Yes, the applicant should have experience in a business that needs technical or specific skills so the enterprise can be managed well.
How is the interest rate structured?
The scheme offers a competitive interest rate of 5% per annum.
What is the fund distribution for the loan?
The loan package is made up of 90% from the National Corporation, 5% from the State Government, and 5% as the beneficiary's own share.
What is the repayment timeline?
The loan can be repaid over 48 equal monthly instalments, and this amount already includes the interest component.
Where can I apply online?
Applications can be submitted through the official website at https://gbcdconline.gujarat.gov.in.
Where can I get further information?
Additional details are available on the official service portal at https://gbcdconline.gujarat.gov.in.
Is this scheme meant for the unemployed?
It is made for individuals who want to move into self-employment or expand an existing small business.
Are there specific social requirements?
Any individual from the identified eligible backward classes can apply, provided the financial standards are met.