T.N. CM Stalin calls upon ex-servicemen to avail of Mudhalvarin Kaakkum Karangal benefits-OxBig News Network

M.K. Stalin. File
| Photo Credit: M. Srinath

Tamil Nadu Chief Minister M.K. Stalin on Monday (February 17, 2025) called upon ex-servicemen from the State to make use of the ‘Mudhalvarin Kaakkum Karangal’ programme, which extends loan assistance for entrepreneurship to former soldiers and their wards. The programme is an initiative for the welfare of Tamil Nadu natives who have served in the armed forces, he said in a social media post.

The programme, among other benefits, provides loan assistance of upto ₹1 crore towards capital, with subsidy upto 30%, to ex-servicemen and their wards. It also provides for a 3% interest subsidy for the outstanding loan. Applications were invited from February 17. To learn more about the scheme, citizens can visit: www.exwel.tngov.in.

In his Independence Day address, after hoisting the national flag on the ramparts of Fort St. George in Chennai on August 15 last year, Mr. Stalin announced the Mudhalvarin Kaakkum Karangal scheme for retired military personnel so they could start businesses by borrowing up to ₹1 crore from banks.

He said the government would extend a 30% capital subsidy and a 3% interest subsidy, and that the ex-servicemen would also be trained in skills related to entrepreneurship. About 400 retired military personnel were expected to benefit from the scheme in the next two years.