Rajasthan: Business Loan Interest Reimbursement for Workers

Overview

Nirman Shramikon ke Liye Vyavsayik Rin Par Byaj ki Punarbharan Yojana is a Rajasthan state scheme that reimburses the interest paid on business loans taken by registered construction workers. Implemented by the Rajasthan Building and Other Construction Workers Welfare Board (BOCWWB), it helps workers who want to start small businesses by reducing the financial burden of loan interest.

Objective

The scheme aims to encourage self-reliance among construction workers by enabling them to access credit for small business activities without being deterred by high interest costs. It supports the transition from daily wage labor to entrepreneurship for construction workers and their families.

Benefits

• Reimbursement of interest paid on business loans taken from scheduled banks or cooperative societies
• Annual reimbursement as per the limits set by the Rajasthan BOCWWB
• Applies to loans taken for setting up small businesses, trade, or income-generating activities
• Reduces the effective interest burden and encourages formal borrowing over informal credit

Eligibility

• Must be registered with the Rajasthan BOCWWB
• Minimum 90 days of work as a construction worker in the preceding year
• Must have an active, valid registration with the welfare board
• Business loan must be taken from a recognized bank or financial institution
• Loan must be for a legitimate business purpose, not for personal consumption

Exclusions

• Construction workers not registered with the Rajasthan BOCWWB
• Workers whose board registration has expired or contributions are in arrears
• Loans taken from unauthorized or informal sources do not qualify
• Personal loans, consumer loans, or home loans are not eligible for reimbursement

Application Process

1. Log in to the Rajasthan BOCWWB online portal or visit the labor office
2. Fill in the application for interest reimbursement with loan details
3. Attach the loan sanction letter, interest payment receipts, and registration documents
4. Submit the application before the deadline set by the board
5. After verification, the reimbursement is credited to the worker’s bank account

Documents Required

• BOCWWB registration card
• Aadhaar card
• Bank loan sanction letter
• Loan repayment and interest payment receipts
• Bank account passbook
• Photographs