- Launch of Muthalvarin Kaakkum Karangal Scheme to support ex-servicemen in Tamil Nadu.
- Financial help includes loans up to 31 crore with 30% capital subsidy and 3% interest subsidy.
- Beneficiaries get entrepreneurship training and the scheme plans to expand to help more veterans.
Muthalvarin Kaakkum Karangal Scheme, also called the CM’s Protective Hands Scheme, was recently started by Tamil Nadu Chief Minister M K Stalin to help ex-servicemen by giving them financial support and skill development opportunities. This scheme aims to help veterans start lasting businesses and secure their livelihoods. If you are an ex-serviceman or related to one, this scheme could be a great opportunity for you.
Muthalvarin Kaakkum Karangal Scheme
Eligiblity and Benefits
This scheme is for ex-servicemen and their families living in Tamil Nadu. It is made to support those who have spent their youth in military service and now want to build a stable livelihood after their service. In its first phase, 348 ex-servicemen and their families will benefit, with plans to support 500 more veterans soon.
Financial Support and Loan Benefits Under the Scheme
Under the Muthalvarin Kaakkum Karangal Scheme, eligible veterans can get bank loans up to 31 crore. The government gives a 30% capital subsidy on the loan amount, making it easier to start or grow a business. Also, there is a 3% interest subsidy, lowering the financial burden on beneficiaries. This financial help is aimed at encouraging entrepreneurship and independence among ex-servicemen.
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Application and Approval Process for the Scheme
Step 1: Submit your application for the scheme.
Step 2: Applications are reviewed by district-level committees headed by District Collectors.
Step 3: Once approved, banks issue provisional sanction orders for the loan.
Step 4: Beneficiaries must attend training at the Entrepreneurship Development and Innovation Institute (EDII), Chennai.
Step 5: After successful completion of training, the final loan approval is granted.
Step 6: With the sanctioned loan, you can confidently launch your business.
Entrepreneurship Training and Skill Development
To make sure ex-servicemen are ready to run their businesses, the scheme includes detailed entrepreneurship training programs. These are held at the state’s Entrepreneurship Development and Innovation Institute in Chennai. The training covers important skills and knowledge needed to manage and grow a lasting business, helping veterans move smoothly from military service to entrepreneurship.
Future Expansion and Additional Welfare Measures for Ex-Servicemen
The government plans to expand the Muthalvarin Kaakkum Karangal Scheme to help 500 more veterans soon. Besides this scheme, Tamil Nadu already offers various welfare measures for ex-servicemen and their families. These include stipend support for children, ex-gratia jobs for dependents of those killed in action, re-employment help, and educational reservations. Together, these initiatives aim to provide full support and improve the quality of life for veterans and their families.
This new scheme shows the state government’s commitment to honouring the sacrifices of ex-servicemen by making sure they have lasting livelihoods and chances to grow. If you or someone you know is an ex-serviceman in Tamil Nadu, consider checking out the benefits of the Muthalvarin Kaakkum Karangal Scheme and take advantage of this helpful scheme.