Mukhyamantri Yuva Udyami Vikas Abhiyan: CM Adityanath asks banks to speed up loan disbursement process for beneficiaries

The CM emphasised that bank loans would empower youth towards self-reliance and also contribute to the growth of the banking sector.

To facilitate access, loan distribution camps should be organised across all 18 divisions of the state. The meeting was attended by senior government officials and representatives from the Bankers Committee.

Highlighting the Mukhyamantri Yuva Udyami Vikas Abhiyan, the Chief Minister underlined that Uttar Pradesh’s youths possess the vision and innovation needed to drive progress.

He reiterated that with banking sector support, the state government is actively providing capital to young entrepreneurs, enabling them to contribute to the development of a New Uttar Pradesh in a New India. He also directed that proper training should be provided to all youths joining the campaign.

The Mukhyamantri Yuva Udyami Vikas Abhiyan, launched on January 24, 2025 (UP Diwas), aims at the potential of youths. The initiative targets at least one lakh skill-trained youths annually, connecting them to self-employment opportunities. Through this campaign, one lakh new units will be established in the product and service sectors.

In the first phase, each beneficiary youth is being provided an interest-free loan of up to Rs 5 lakh, while in the second phase, the amount will be increased to Rs 10 lakh. Within just one month, the scheme has received approximately 2.5 lakh registrations, of which over 93,000 applications have already been sent to banks. So far, loans worth Rs 348 crore have been sanctioned, benefitting 9,013 young entrepreneurs.

The CM stressed that youth should receive financial support in fields where they have undergone training, ensuring effective utilization of funds. He also highlighted the need for pre-screening applicants before submitting loan requests to banks to streamline the process.

Recognising Uttar Pradesh as a major market, he pointe out that this initiative would encourage youth entrepreneurship and play a crucial role in employment generation. He also directed that women, SC/ST communities, and Divyang (persons with disabilities) be actively included in the scheme to promote inclusive growth.

Adityanath also appreciated the “commendable contribution” of the banking sector in ensuring the success of Maha Kumbh 2025.