Youth who have lost their jobs or businesses and returned home in select blocks of Virudhunagar district can avail themselves of ₹1 lakh loan for new trade or industrial ventures.
A statement said the assistance would be given to the households of members of self-help groups that are part of panchayat-level federations. The skilled youths who had returned to the village panchayats in Rajapalayam, Sivakasi, Virudhunagar and Kariapatti blocks that are served by Tamil Nadu Rural Transformation Project are eligible for the assistance.
They should be in the the age group of 18 years to 35 years - 40 years for women, and should be part of the SHGs. Based on recommendation of village poverty reduction committees, the loans would be given. The trade or business should suit the requirement of local panchayat and the applicant should have experience in it.
Though the target is to give loans to 167 persons, the number of beneficiaries will be increased based on demand. The loan should be repaid in 39 equated monthly instalments with a moratorium of three months.
