| SALIENT FEATURES |
- Nodal Agency-KVIC.
- implementation in the ratio of 30:30:40 through KVIC/KVIB/DIC (In Rural areas) & DIC (In Urban areas)
- No Income ceiling for selection of the beneficiary
- per head investment for employment generation ₹ 1 lakh in plain areas and ₹ 1.50 lakhs in hill areas
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| PURPOSE |
- To generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures,Projects and micro enterprises
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| ELIGIBILITY |
- Only new units will be considered for financing
- Individual with min 18 yrs of age (for project above ₹ 10 lakhs in manufacturing and ₹ 5 lakhs in service min qualification .Class viii std)
- SHG,Trust,Regd.Societies and Production Co-op Societies
- Special Category groups,Societies to enclose relevant Certificate with MM claim otherwise will be treated as General category
- By laws to be produced by SHG/ Societies
- Project cost MUST include Capital Expenditure + one cycle of working Capital. Projects cost will not include cost of land but 3 year's rent may be included incase facility's premises are leased
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| LOAN AMOUNT |
- Manufacturing: up to ₹25 lakhs
- Service Sector :up to 10 lakhs₹
|
| MARGIN |
- General - 10% of Project Cost
- Special Category - 5% of project Cost
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| INTEREST RATE |
- As prescribed by the Bank. Interest will be applied on monthly compounding basis
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