The Rajasthan government started Indira Gandhi Shehari Credit Card Yojana (Indira Gandhi Urban Credit Card Scheme) to provide interest free loans up to Rs 50,000 to 5 lakh people including street vendors, youth from the unorganised sector and the unemployed. The loan is provided through public sector banks/private banks/cooperative banks and financial institutions.
This scheme is providing financial support to the youth who lost their business due to the lockdown imposed during the corona pandemic in the state so that they could once again set up their business. This scheme has also provided the opportunity for self-employment in the urban areas and there is a decline in the rate of unemployment in the state due to this scheme.
Unemployed youth between 18 and 40 years from different service sectors have been provided financial support through the Indira Gandhi Shehari Credit Card Yojana. People including hairdressers, rickshaw pullers, potters, carpenters, cobblers, mechanics, tailors, washer men, painters, plumbers, electricians etc were given loans up to Rs 50,000. The loan is approved within 25 days. In this scheme, 37,387 people in the state have been provided loans of Rs 138 crore. The state government bears the interest subsidy of a maximum up to Rs 10% on the loans. The state government has given subsidy of Rs 3 crore under this scheme. The beneficiary has to repay the loan in 12 equated monthly instalments (EMIs) from the 4th to the 15th month.
Sangeeta Saini of Amer (Jaipur) got a loan of Rs 50,000 under Indira Gandhi Shehari Credit Card Yojana. She said due to the corona pandemic lockdown her business of beauty parlour and cosmetic business came to standstill. She started facing financial problems and was very disappointed. Even relatives were not ready to lend money without interest and no bank gives loans without interest. She came to know about this scheme and got a loan without interest and restarted her business. This scheme gave a new direction to her life.
