The YSR Navodayam Scheme for MSMEs Launched Andhra Pradesh Government. YSR Navodayam scheme aims to bail out micro, small and medium enterprises (MSMEs) in the State and provide them financial relief by restructuring their bank loans before March 31, 2020. The state’s Chief Minister YS Jagan Mohan Reddy inaugurated the scheme at his camp office at Tadepalli and then conducted a review meeting. (YSR Vahana Mitra Scheme)
Under the YSR Navodayam Scheme, about 80,0000 MSMEs in the State would be benefited as their bank loans, which are subject to a ceiling of Rs 25 crores, would be restructured. They would get more financial support and more time to pay back the loan.
The state’s Finance Minister B Rajendranath said MSMEs were perpetually plagued by working capital shortage and many of them were becoming non-functional due to the problem. The State Government launched the scheme to rescue them. The district collectors would form committees and identify the eligible MSMEs.
YSR Navodayam Scheme Documents Required
- The eligible beneficiary must attach the below-following documents to apply for this scheme:
- Identity Proof: PAN, Aadhaar, Driving License, Voter Identity Card, etc.
- Address Proof: Aadhar Number, legal Passport, Utility bill, Property tax bill, etc.
- Below Poverty Line Certificate
- Income Certificate
- Bank Account Passbook (Photocopy of the first page)
- Any other documents (if applicable)
Application Procedure: Navodayam Scheme can be applied by providing the requested information and fill up the applications who are ready to get the benefits of this scheme. The online application procedure for this scheme will be intimated in the official portal by the government. The State Government is more likely to opt for an online application process for the ease of the applicants.