Question

The Navajeevan scheme aims to provide suitable means of livelihood to eligible individuals. What percentage of the sanctioned loan is typically a bank loan?

• A. 25 percent
• B. 50 percent
• C. 75 percent
• D. 100 percent

Answer 1

Answer:

C. 75 percent

• The scheme aims to ensure the financial self-reliance of senior citizens in the age group of 50 to 65 years.

• It targets those who have been unable to secure employment despite registration at Employment Exchanges in Kerala.

• The scheme provides suitable means of livelihood to eligible individuals.

• Loans of up to Rs 50,000 are granted, 25 per cent of which (up to Rs 12,500) can be subsidy and 75 per cent can be bank loan.

• Applicants must have an annual income of not more than 1 lakh.