​​​​​​Micro Credit​​​​​

Micro Credit Finance Scheme (Small Loan)


       Under this scheme,  the ST beneficiaries  of Self Help Groups of Semi-Urban and Urban areas will be assisted to start their own petty business activities. The unit cost is Rs.15,000/-, Rs.10,000 will be subsidy and Rs.5,000 in loan. Loan and Subsidy will be directly paid to SHGS. For Loan amount this Corporation charges 4% rate of Interest Per anum. Benificaries has repay the loan and Intrest  amount to the corporation in 36 equal monthly Instalments​

​Unit Cost​​Subsidy Limit
Above Rs 1.00 Lakh  to  Rs 5.00 Lakh70% of the Unit Cost  or Maximum of Rs 3.50 Lakh 
Rs 5.00 Lakh  to   Rs 10.00 Lakh60% of the Unit Cost or Maximum of Rs 5.00 Lakh
​Rs 10.00 Lakh to Rs 20.00 Lakh 50% of the Unit Cost or maximum of Rs  5.00 Lakh 

III. Micro credit  Finance (MCF) Scheme

  1. ​​Each of the self-help group selected to be from selection committee, chaired by the Member of Legislative Assembly should be registered and should have bank Saving Bank account in Nationalized / scheduled /Rural(Gramina)  Banks .
  2. The Sanctoned amount to  self-help groups(SHGS)  has to be transfred to the Concerned SHGS through Crossed Cheques or NEFT Tranfer.
  3. The self-help groups(SHGS) are charged  annually  4% interest rate on the loan amount. SHGS can Charge  Annual 5% to the members of that SHG. Difference rate of 1% can be used in SHGS as service fee for development of SHG.
  4. The SHGS has to repay the Loan amount  along with interest in 36 equal instalments.

Refer Corporation Act and Rules for further Scheme ​details.​