Micro Credit Finance Scheme (Small Loan)
- Financial assistance will be provided to the scheduled tribe women members of the self help groups for taking up small business activities.
- Each ST women member will be given Rs.15000/- through their SHG. This assistance includes subsidy of Rs.10000/- and loan of Rs.5000/-. Loan carries interest at 4% p.a. Loan and interest is repayable in 3 years in monthly/quarterly instalments.
III. Micro credit Finance (MCF) Scheme
- 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 .
- The Sanctoned amount to self-help groups(SHGS) has to be transfred to the Concerned SHGS through Crossed Cheques or NEFT Tranfer.
- 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.
- The SHGS has to repay the Loan amount along with interest in 36 equal instalments.
Refer Corporation Act and Rules for further Scheme details.