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Object :

This scheme aims to provide self-employment to the unemployed youth of urban and rural areas.

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Eligibility of the Scheme

Age : 18 to 50
Qualification : The applicant must have passed minimum std 4th or have undergone the training in accordance with his business for three months from private institution or must have experience of one year or must be hereditary craftsman or must have undergone the training in accordance with his business for minimum three months.

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(1) Maximum Rs. 2 Lac for Industries and service sector.
(2) Maximum Rs. 1 Lac for business.

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Security:

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Margin Money:

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Interest Rate:

Interest rate to define by the bank  and Bank loan to be give on that rate

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Repayment of the loan

1.      The installment of loan shall be started only after six months and the it shall be binding to the beneficiary for regular payment of the installment along with the interest determined by the nak within the period of tree to five years.

2.      In the case of payment of loan before the period prescribed by the nak or immediately after the assistance the amount of assistance shall be paid along with the interest and it shall be recovered as the arrear of land revenue.

3.      The period of the repayment of loan shall not be less than tree years and the industry/business shall have to be carried on until the prescribed period is over or the installments of loan are completed.

4.      A passbook shall be give to the beneficiary and the bank shall have to make entries therein from time to time.

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Eligibility for assistance :

1.      The bank must have given loan on the base of recommendation by implementing Agency for the activities of the project sanctioned for cottage Industry

2.      Aggregate capital investment in the industry/business should be within the limitation of the project cost

3.      No loan/assistance should have been availed for this purpose from any other scheme.

4.      The purpose for which the loan is provided should be fulfilled and assets or material should have been installed there for.

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Subsidy :

The rate of Subsidy under this scheme for industry, service and business shall be as follows. The subsidy demanded from the bank in relation to the amount of loan provided by the bank shall be paid to it by DIC concerned
 

The maximum limit for above Assistance :
1) For the Sector Rs.7,500/-
2) For the Service Sector Rs. 10,000/-
3)For the Industrial Sector Rs. 20,000/-

The rate of subsidy for the physically handicapped/blind persons under the PMRY scheme shall be as per the resolution vide I & M Deptt’s resolution dated 20/10/99.

P.S.:- There shall be kept 3% reservation for the PH/blind person in the target in the new financial year under this scheme.

The application for availing loan under this scheme shall be submitted in two copies to the DIC concerned along with the particulars as mentioned below :

1. A Certificate of know how of the business concerned.
2. A Certificate of the place of business/industry ( a receipt of electricity bill, receipt of house-tax payment)
3. Tenders for the tools/equipment (Machinery) furniture raw material to be purchase to submit the tenders of the dealer/authorised dealer having sale tax no.)
4. Certificate of age/school leaving certificate.
5. The proof of the property of the person in security such as receipt of house-tax abstract of section 7-12. pay sleep/ a copy of property index shall have to be produced if the amount of loan is demanded more than Rs. 10,000.
6. A Copy of ration card.
7. A certificate of the caste of the applicant.
8. The proof/light bill if electricity connection is necessary.
9. two passport size photographs of the applicant.
10. Outline of the project.

A declaration form as mention below should be attached with the form of application after obtaining from the applicant :

Declaration of the applicant :-

I hereby undersigned______ inhabitant of the village_____ of Taluka of______ District_____age____Solemnly declare that

1.     I have not availed any loan or assistance under any scheme of the state Govt. for the business, service, industry, or trading shown in the application for loan before this.

2.     I am not debtor of any bank or financial institution.

3.     I will start my business on receiving the loan and carry on the same period prescribed for 3 to 5 years. and shall obtain necessary permission from the institution concerned before the disposal or sale of machinery/equipment purchased on the loan.

4.     I hereby assure that information and the proofs attached herewith are true.

5.     I am bound to repay the along with interest thereof together with penalty interest if any particulars in declaration is proved incorrect and it will be accepted to me if any legal procedure is initiated in that regard.

6.     I am not engaged with any other industry, dealing or service and I assure that I shall leave the job if I am having the same at the time of receiving the loan.

7.     I hereby assure to utilize the loan for the purpose for which it was provided and also hereby agree to recover whole the amount of loan from me or from my____ in the case non installment of assets in the prescribed period or in the case of failure to give recovery by way of disposal or sale of the unit in the prescribed period/