MLA hands over Rs 40,000 to eleven self-employed youths
Source: The Sangai Express
Imphal, December 18 2022:
Karam Shyam, MLA Langthabal Assembly Constituency, handed over a sum of Rs 40,000 each to eleven self-employed youths of the Constituency as a symbol of encouragement.
The MLA handed over the monetary sum during a simple function held at his residence in Chajing this morning.
Speaking on the occasion, Karam Shyam stated that the community can achieve collective development when they put in consistent hard work in the field of their choice.
Highlighting a major problem faced by hard working entrepreneurs of the State, the MLA said that often these youths lack adequate seed money to expand their entrepreneurial pursuits.
When it comes to availing loans from banks, this also proves to be a complicated endeavour as many banks are not willing to give out loans to everybody, the MLA opined.
As such, the MLA informed of the launching of an initiative in 2018, wherein hard working entrepreneurs were provided loans to help their fledgling businesses.
The MLA informed that the monetary aid was provided without any interest and had to be paid back in installments of Rs 1000 monthly.