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|
Rs 1.00 Lakh to Rs 5.00 Lakh||70%
of the Unit Cost or Maximum of Rs 3.50 Lakh |
5.00 Lakh to Rs
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
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.