UP Govt Launches MYUVA Scheme: 5 Lakh Loan, No Interest or Collateral!

• Uttar Pradesh's Chief Minister Yuva Udyami Yojana (MYUVA Scheme) offers up to 5 lakh rupees for youth self-employment.
• Loans are interest-free and require no guarantee or security deposit, easing access for economically weaker families.
• Eligibility: Age 21-40, minimum 8th pass with skill training/degree; not benefiting from other capital/interest schemes (except PM SVANidhi).
• Application is digital via msme.up.gov.in; District Industries Promotion and Entrepreneurship Development Center verifies documents, then bank approves.
• Beneficiaries contribute 10-15% based on category; government provides 10% margin money which converts to a non-repayable subsidy after two years of stable business.

Why It Matters: MYUVA Scheme empowers UP youth with interest-free, collateral-free loans up to 5 lakh for self-employment.