Implemented by the Karnataka Minorities Development Corporation Limited (KMDC) in collaboration with nationalized and scheduled banks, this scheme offers a subsidy to eligible beneficiaries sanctioned for bank loans to purchase Passenger Autorickshaws, Goods Vehicles, or Taxis. Women are given priority in this scheme. The vehicle purchased must remain unsold during the loan tenure, and any insurance claims must be reported to KMDC. A Selection Panel, with certification by the District Manager (including a beneficiary’s photograph with the vehicle), selects the beneficiaries.
Benefits
- Subsidy Amount:
- A subsidy of 33% of the vehicle’s value, capped at a maximum of Rs. 2,50,000/-.
- Display Requirement:
- The subsidized vehicle must display “Subsidized by KMDC”.
Eligibility Criteria
- Community:
- Applicants must belong to a State Religious Minority Community.
- Residency:
- Must be a permanent resident of Karnataka.
- Age:
- Applicants must be between 18 and 55 years.
- Income Limit:
- The total family income should not exceed Rs. 4.50 lakh per annum.
- Employment Restrictions:
- No member of the applicant’s family should be an employee of the State, Central, or Government Public Sector Units.
- Driving License:
- Must possess a valid driving license issued by the Regional Transport Authority.
- Loan History:
- Neither the applicant nor any family member should have availed a vehicle loan under any other State Government scheme.
- Loan Default:
- The applicant must not be a loan defaulter with KMDC.
Exclusions
- Applicants whose family members are employed by State/Central/Government Public Sector Units.
- Applicants or their family members who have already availed of any vehicle loan under a State Government scheme.
Application Process
Online Application Steps:
- Fill Out the Application Form:
- Visit the official website and complete the online application form.
- Print the Form:
- Print the completed form.
- Submission:
- Submit the printed application form along with all required documents to the Selection Panel in your district.
- Approval & Subsidy Disbursement:
- Upon approval by the Selection Panel, the subsidy will be directly transferred to your bank account.
Documents Required
- Online Application Form:
- A completed application form.
- Photographs:
- Latest 2 passport-sized photographs.
- Certificates:
- Caste and Income Certificate.
- Copy of Aadhaar Card.
- Driving License:
- Copy of the valid driving license.
- Affidavits:
- Affidavit declaring non-availment of any vehicle loan under any State Government scheme for the applicant and family members.
- Affidavit declaring the non-transfer (alienation) of the vehicle during the loan period.
- Bank Documents:
- Copy of Bank Passbook.
- Vehicle Quotation:
- Copy of the vehicle quotation.
- Self-Declaration Form:
- A duly filled self-declaration form.
Frequently Asked Questions (FAQs)
-
Who are the beneficiaries?
Beneficiaries are individuals from the State Religious Minority Community who meet the eligibility criteria and require financial assistance for purchasing a taxi, goods vehicle, or passenger autorickshaw. -
What amount is given as a subsidy?
A subsidy of 33% of the vehicle value is provided, up to a maximum of Rs. 2,50,000/-. -
What type of vehicle can be purchased under this scheme?
Eligible vehicles include Passenger Autorickshaws, Goods Vehicles, and Taxis. -
Is there any provision of loan associated with this scheme?
Yes, beneficiaries must first be sanctioned for a loan by nationalized/Scheduled banks for the vehicle purchase. -
Will women be given priority under this scheme?
Yes, women are given priority in the selection process. -
Who should apply?
Eligible applicants must be from a State Religious Minority Community, permanent residents of Karnataka, aged between 18 and 55 years, with a family income not exceeding Rs. 4.50 lakh per annum, and meeting the other stipulated conditions. -
What is the minimum age required to apply for this scheme?
The applicant must be at least 18 years old.