Jaipur: The Rajasthan Financial Corporation (RFC) has not sanctioned a single loan under the state govt’s Mukhyamantri Yuva Swarojgar Yojana despite receiving 48 applications, prompting the industries and commerce department to direct the corporation to act on pending cases.In a letter to RFC, the department said applications seeking loans under the scheme were being filed continuously through the SSO portal and forwarded by district industries centres to RFC branches. However, no approvals have been issued so far, leading to waning interest among applicants.Officials said RFC’s board of directors has not cleared sanctioning of collateral-free loans under the scheme, resulting in no branch-level approvals.The issue comes despite budgetary support announced last year, when the finance department sanctioned Rs 100 crore for RFC, with RIICO and the state govt contributing Rs 50 crore each. RIICO has already released Rs 30 crore and the govt Rs 10 crore. RFC has sanctioned Rs 56 crore in the current financial year, but none under MMYSY.Launched in Jan 2026, MMYSY aims to create one lakh micro-entrepreneurs annually by offering collateral-free, interest-free loans of up to Rs 10 lakh, along with margin money subsidy and reimbursement of CGTMSE fees. The scheme is being implemented by the Industries and Commerce Department and will remain operational until March 2029.The department has now asked RFC to issue directions for disposal of pending applications, warning that the corporation’s non-implementation has become a bottleneck in rolling out the youth self-employment initiative, which is regularly reviewed by the chief minister.
