Motorcycle Taxi Yojana

Description
The scheme “Motorcycle Taxi Yojana” was introduced by the Cooperative Department, Government of Uttarakhand. The scheme aims to promote self-employment among the residents of Uttarakhand by providing interest-free loans for purchasing motorcycles or scooters to operate as motorcycle taxis, thereby enhancing tourism connectivity and generating livelihood opportunities in the state.

Exclusions
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Benefits
• The applicant will be provided an interest-free loan for a period of 2 years to purchase scooters or motorcycles for transporting tourists/travelers from one place to another at major tourist destinations.
• The loan will cover 75% of the total cost or ₹1.75 lakh per scooter/motorcycle, whichever is lower. The remaining 25% of the amount must be arranged by the applicant.
• An applicant can purchase a maximum of 10 scooters/motorcycles.
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Eligibility Criteria
1. The applicant must be a permanent resident of Uttarakhand.
2. The applicant must be at least 18 years old and not more than 55 years old.
3. The applicant must possess a valid license issued by the Transport Department.
4. The applicant must not be a defaulter of any financial or cooperative institution.
5. The applicant must have a minimum CIBIL (Credit Information Bureau India Limited) score of 700 or above.
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Required Documents
• Aadhar Card
• Birth Certificate
• Bank Account Details
• Permanent Residence Certificate
• Quotation and Ex-Showroom Price of the Scooter/Motorcycle
• Driving License
• Details of two guarantors
• Other supporting documents as required

Frequently Asked Questions
Q: Who is eligible for this scheme?
A: Applicants must be permanent residents of Uttarakhand, aged between 18 and 55 years, possess a valid Transport Department license, not be defaulters of any financial or cooperative institution, and have a minimum CIBIL score of 700.
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Q: What financial assistance is provided under the scheme?
A: An interest-free loan of 75% of the total cost or ₹1.75 lakh, whichever is lower, per scooter/motorcycle, is provided for a period of two years.
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Q: What is the applicant’s contribution under the scheme?
A: The applicant must contribute the remaining 25% of the cost of the scooter or motorcycle from their own resources.
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Q: How many scooters or motorcycles can one applicant purchase?
A: An applicant can purchase a maximum of 10 scooters/motorcycles under this scheme.
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Q: Where can the application form be obtained?
A: The application form can be obtained from the cooperative bank of the applicant’s area.
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Q: How are applications processed?
A: After submission and scrutiny, applications are sent to the District Level Committee chaired by the District Magistrate/Chief Development Officer for selection.
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Q: How are selected applications forwarded?
A: Applications recommended by the committee are sent to the concerned bank branches through the District Cooperative Bank Head Office.
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Q: How is the loan disbursed?
A: After completing the formalities and issuing the loan sanction letter, the sanctioned loan amount is sent directly to the institution or dealer from which the scooter/motorcycle is purchased.
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Q: What is the maximum loan period?
A: The maximum period of the loan is 3 years.
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Q: How will the loan be repaid?
A: The loan will be recovered in 35 equal monthly installments, starting one month after the date of loan disbursement.
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