Credit based Scheme | Loan provided to Individual from Scheduled Caste for business or self employement
Operated by
Ministry of Social Justice and Empowerment - Scheduled Caste (SC) Welfare - National Scheduled Caste (SC) Finance and Development Corporation, Central Govt
Purpose
Term loan to Scheduled Caste (SC) community for projects/unit costing Rs.30 lakhs
Probable duration
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Eligibility
- The beneficiary should be from the Scheduled Caste (SC) Community.
- Annual family income of the beneficiary(ies) should not exceed Double the Poverty Line (DPL) income limit (presently 98,000/- per annum for rural areas and ` 1,20,000/- per annum for urban areas).
- Minimum Promoter's Contribution as % of Project Cost ? For Projects costing above Rs 1.00 lakh and up to Rs 2.50 lakh - 2% ? For Projects costing above Rs 2.50 lakh and up to Rs 5.00 lakh - 3% ? For Projects costing above Rs 5.00 lakh and up to Rs 10.00 lakh - 5% ? For Projects costing above Rs 10.00 lakh and up to Rs 20.00 lakh - 7% ? For Projects costing above Rs 20.00 lakh and up to Rs 30.00 lakh - 10%
- Under the Central-Sector Scheme of Special Central Assistance to the Scheduled Caste (SC)s Sub Plan, the Below Poverty Line (Below Poverty Line) Beneficiaries are eligible for subsidy @ Rs 10,000/- or 50% of the unit cost, whichever is less
Benefit Description
To provide assistance in the form of loan for promoting economic development activities of the persons belonging to the Scheduled Caste (SC)s living below the poverty line.
Application process
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Other Details
Conditions if Any
Term loan is to be repaid in quarterly/half yearly/yearly instalments, within a maximum period of 10 years (including moratorium period).
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