Out Of 183 Selected Startups: 19 Startups Got More Than 1 Crore Loans The Industrial Business Development Foundation has informed that 19 startups have taken loans of Rs.
The shortlisted startups will be given a concessional loan of Rs 5 lakh to Rs 20 lakh from the designated branch office of the National Commercial Bank. According to the foundation, they will get five lakh rupees for the first installment and the second installment will be provided after the progress report of that installment.
The government has introduced the concept of startup loans to provide loans to selected startup projects without collateral. For this, the National Commercial Bank will look at the details of whether the project and the operator are blacklisted.
The government had allocated Rs 25 crore for startup projects in the budget of the financial year 2080/81. For the next financial year, the government has promised to set up a startup fund worth one billion rupees.