Under the Mission Youth, J&K - MUMKIN scheme, the beneficiary is provided an amount of Rs.80000- 10% of on-road price of the vehicle (whichever is less) as upfront subsidy, the vehicle manufacturer also provides an upfront special discount, not less than the amount of subsidy. The banking partner extends a loan facility to the extent of 100% of the on-road price of the vehicle to be purchased without asking for any collateral security.
Assistant Director Employment (Nodal Officer), Pradyot Gupta; Cluster Head J&K Bank, Sanjeev Sharma and other officials also attended the ceremony.
It was informed that 5 beneficiaries availed small commercial vehicle of Mahindra and 2 beneficiaries availed small commercial vehicles of TATA.
Under the scheme, the applicant will have the full liberty to choose any small commercial vehicle of any approved models/makes of his/her choice under “MUMKIN” Scheme.
