| Salient
Features |
|
A. |
ELIGILITY |
Any unemployed
educated person fulfilling following conditions. |
| (i) |
Age |
| 1. |
Between 18 to 35 years all
uneducated youth. |
| 2. |
Between 18 to 40 years for educated
unemployed youth in the North-Eastern States. |
| 3. |
18-45 years for SC/ST, Ex.Servicemen,
Physically Handicapped men and Women. |
|
| (ii) |
Qualification |
VIII Passed. Preference will be given
to those who have been trained from any
recognized/approved Institution for duration of at least
six months. |
| (iii) |
Residency |
Permanent resident of
the area for at least 3 years. |
| (iv) |
Family
Income |
Upto Rs. 40000/- Annum of the
beneficiary and spouse and upto Rs. 40000/- for the
parents separately. |
| (v) |
Defaulter |
Should not be a defaulter to any
nationalized bank/financial institution. |
| B. |
ACTIVITIES |
All economically viable activities
including agriculture allied activities but excluding
direct agricultural operations like raising crops,
purchase of manure etc. |
| C. |
PROJECT
COST COVERED |
| Rs. 1.00 lakh for business sector. |
| Rs. 2.00 lakhs for other
activities. |
|
Loan to be composite nature. If
two or more eligible persons join together in a
partnership, Projects up to Rs. 10 lakhs are
covered. Assistance shall be limited to individual
admissibility. |
|
| D. |
MARGIN
MONEY SUBSIDY. |
| I. |
Subsidy will be limited to 15%
of the project cost subject to ceiling of Rs.
7500/- per entrepreneur. Bank will be allowed to
take margin money from the entrepreneur varying
from 5% to 16.5% of the project cost so as to make
the total of subsidy and the margin money equal to
20% of the project cost. |
| II. |
Subsidy @ 15% the project cost
subject to a ceiling of Rs. 15000/- for North
Eastern State margin money contribution from the
entrepreneur may vary from 5% to 12.5% of the
project cost so as to make the total of the
subsidy and margin money equal to 20% of the
project cost. |
|
| E. |
COLLATERAL
SECURITY |
No collateral for project upto 5 lacks.
Exemption from collateral in case of partnership
project will also be limited to an amount of Rs. 2.00 Lakh
person participating in the project |
| F. |
REPAYMENT
SCHEDULE |
3-7 years after an initial
moratorium of 6 to 18 months. |
| G. |
IMPLEMENTING
AGENCY |
State Government through Distt.
Industries Centres |