Portal for Credit-Linked Government Schemes
On June 06, 2022, Prime Minister Shri Narendra Modi announced the launch of the "Jan Samarth Platform". The PM took to Twitter to address the launch of the new initiative. As mentioned in a statement by the Prime Minister's Office on Twitter, the Jan Samarth platform is a national digital portal for taking advantage of government initiatives related to credit.
During the inauguration of the prestigious week-long celebration organized by MOFA and MCA (Ministry of Finance and Corporate Affairs), Prime Minister Narendra Modi announced this initiative to easily apply for business loans under four major loan categories.
What is the Jan Samarth Portal?
The Jan Samarth Portal is a new age digital initiative of the Government of India. It is a unique online platform that links thirteen credit-linked government schemes. As highlighted on the official website of Jan Samarth Portal - https://www.jansamarth.in/home
"The main objective of the scheme is to guide and provide inclusive growth and development in various sectors that are entitled to government benefits through simple and digital processes."
With the help of this one platform, lenders and beneficiaries can be connected seamlessly. The main advantage of the initiative is the easy application process, where a beneficiary can check their eligibility and criteria, upload the required documents, and process the business loan application in a few simple steps. With the convenience of the beneficiary, a beneficiary can do all this remotely from anywhere.
Features of the Jan Samarth Portal:
- It offers a single window facility connecting 13 government loan schemes with lenders.
- Currently, only 13 schemes are included, but soon more credit schemes will be added to the platform.
- There are four major board categories of loans, i.e., educational, agricultural infrastructure loans, business loans, and livelihood loans.
- It provides a platform to connect with over 125 lending institutions, including all public sector banks, all in one window facility where a beneficiary can choose as per his/her preference.
- There are several official digital integrations to make the application process smooth and easy between the beneficiary and all member financial institutions.
- The lender verifies eligibility through the portal; the financial lender provides initial approval; and the portal sends an application to the selected bank.
- In addition, beneficiaries will be updated through the portal at every stage of the process without the need to visit bank branches multiple times.
How does the portal work?
The portal provides a seamless guide to beneficiaries to check subsidy eligibility and provides a recommendation system that recommends the best schemes based on their needs and credentials using the latest technologies and analytics. Digital verification is done automatically by lenders, making it simple, fast, and hassle-free.
Jan Samarth Portal, a one-of-its-kind platform, integrates UIDAI, CBDT, NSDL, LGD, and other services on its platform. As a result of these integrations, member lending institutions (MLIs) and beneficiaries have access to digital data that can be authenticated, thus reducing inconvenience. The automated rule engine of the Jansamarth portal allows the beneficiaries to choose the options offered in a range of MLIS on board the portal.
The portal facilitates real-time checks by national authorities to process loan applications faster and more efficiently.
- The Central Board of Direct Taxes (CBDT)
- The Goods and Services Tax ( GST )
- National e-Govance Services Limited (NESL)
- Unique Identification Authority of India ( UIDAI )
How can a beneficiary apply under the National Portal for Credit-Linked Government Schemes?
A beneficiary can easily apply for the loan on the portal- https://www.jansamarth.in/ . However, first they have to browse the online web portal and hover over the loan category they want to choose. Now, select the particular credit scheme and check the eligibility. If eligible, one can easily apply by uploading the required documents.
There are now four types of loans, with different schemes listed under each. To qualify for a business loan in the chosen category, you must first determine your eligibility by answering a few simple questions. If you are eligible for a program, you can apply online and get permission digitally. After submission, you can check the status of your application online. If there is a problem, you can file a complaint.
Documents required for application:
All 13 credit plans differ in terms of documentation requirements. Therefore, the individual needs to click on the particular scheme to see the specific documents required that they want to select. However, some of the important documents required for almost every scheme are as follows:
- aadhar number
- voter id card
- bank statement
How to track your business loan application.
Applicants can monitor the status of their loan application on the centralized web portal. For this, log in with your official registration credentials and navigate to the My Applications tab on the dashboard to view the status of your applications.
Types of Loan Categories in the Jan Samarth Portal
Currently, there are four main loan categories in which different government procedures related to credit are expressed. The loan categories are as follows:
A beneficiary can use this category to expand a new business or activity within an existing business. Different schemes under this category offer different classification benefits based on gender, business type, and economic sector. Currently, six schemes are listed under this flagship business loan category:
- The Prime Minister's Employment Generation Program ( PMEGP )
- Weavers Mudra Scheme (WMS)
- Pradhan Mantri Mudra Yojana ( PMMY )
- Prime Minister's Street Vendor Self-Reliant Fund Scheme ( PMSVanidhi )
- SRMS is a Self-Employment Scheme for the Rehabilitation of Manual Scavengers (SRMS).
- stand up india scheme
Only one scheme (Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM)) is currently enrolled under this loan category. The main objective of credit facilities is to reduce poverty by providing financial assistance to the poor, especially women, enabling them to take advantage of a wide range of financial institutions or credit options. scheme.
Agricultural infrastructure loans
This section of loan schemes can be used for post-harvest maintenance and agriculture consultancy. Loans are provided to promote the development of agricultural infrastructure in the economy. For example, funds are provided for the construction of clinics and commercial centers related to agricultural activities.
Three plans are made under this category.
- Agricultural Clinics and Agri-Business Center Scheme (ACABC)
- Agricultural Marketing Infrastructure (AMI)
- The Agricultural Infrastructure Fund (AIF)
Loans are given to study in India or outside India as well. Almost all courses are funded to provide quality education in the country, especially for the poor.
Three plans are made under this category.
- The Central Sector Interest Subsidy (CSIS)
- Read abroad
- Dr. Ambedkar's Central Sector Scheme
However, if you want to get the best business loans, the NBFCs offers customized business loans to small and medium-sized enterprises in India. The loans do not have the bureaucratic red tape that usually accompanies bank loans, and the application, confirmation, and payment processes are very simple. NBFCs have developed a quick and efficient digital interface that minimizes human interaction and facilitates the entire process of "getting a business loan".
FAQs by Jan Samarth:
1. How can one apply for schemes on the Jan Samarth Portal?
You must first check the eligibility for your desired loan category by answering a few simple questions. If you are eligible under any of the schemes, you can choose to apply online to get digital approval.
2. How to register for Jan Samarth Portal?
The basic documents required to apply online on the portal are Aadhar number, voter ID card, PAN, bank details etc. In the portal, the candidate also has to enter some basic information.
3. Can I make changes to the Jan Samarth Portal application?
No changes can be made once the applicant has applied and submitted the loan application form.
4. Is it possible to apply for more than one loan on Jan Samarth Portal?
Yes, as long as one is eligible for the particular credit scheme. The applicant can apply for more than one credit scheme. However, confirmation may be subject to terms and conditions.
5. How long will it take for my application to be approved on the Jan Samarth Portal?
The portal processes the application faster compared to the traditional way of approving loans. However, it may take one to two days to confirm the application for the loan.
6. Why was my Jan. Samarth registration cancelled?
Cancellation of registration may be due to an incomplete application or due to some wrong information filled in the application. Therefore, we recommend you only fill in verified information.
7. How many lenders are there on the Jan Samarth Portal?
The recipient can compare offers from over 125 lenders and get a digital acceptance from a selected bank.
8. In the case of complaints, what are the options available to borrowers?
Borrowers can email email@example.com or contact 79690-76111.
9. In the case of complaints, what are the options available to bankers?
Borrowers can email firstname.lastname@example.org or contact 79690-76123.
10. How many language options can I access on the Jan Samarth Portal?
The portal can be accessed in English, Hindi, Marathi, Bengali, Telugu, Gujarati, and Assamese.