Once the application is approved, the bank allocates 95% of the project cost (for weaker sections of society) or 90% (for 2. Accordingly, for manufacturing units, financial assistance upto an amount of Rs. Learn more. sanctioning a 2nd loan with Subsidy for upgrading the existing units, which are performing well in terms of turnover, profit making and loan repayment. Assistance to village & cottage industries to generate employment opportunities for unemployed youth/people. District Industry Center Loan Scheme (DIC) is the third part of Prime Minister’s Employment Generation Programme (PMEGP) under which the rural areas of Maharashtra State are covered for the implementation. For more information kindly contact Toll Free No. I therefore request you to advise the lead district Bank/Nodal Bank to disburse an amount of Rs (Rupees only) being the Govt. In case of assets sold/ misutilised / closed activity within three years, entire loan amount and subsidy with interest can be recovered under State Revenue Acts. The Scheme aims at facilitating technology upgradation by providing upfront capital subsidy to SSI units, including tiny, khadi, village and coir industrial units, on institutional finance (credit) availed of by them for modernisation of their production equipment (plant and machinery) and techniques. Bank loan must be obtained for at least of minimum 40% from the total project cost to avail subsidy. Interest Subsidy The final loan instalmentwhich is equal to 25% of the total investment amount for poultry farm would be adjusted as the back-ended capital subsidy. DIC Loan Scheme; The objective of the scheme is to generate employment opportunities including self-employment to tiny units located in towns and rural areas having population of less than 1 lakh and with investment in plant & machinery below ₹ 2 Lakhs. Central Scheme for Interest Subsidy has been announced by Ministry of HRD for providing interest on Education Loans during moratorium for technical and professional courses for studies in India under the IBA Model Education Loan Scheme for students from Economically Weaker Sections (EWS) with annual gross … Interest subsidy of upto 7% for micro enterprises and @ 5% for small and medium enterprises. KVIC or DIC don’t have the power to sanction the loan, they can only preapprove the application for the purpose of releasing the subsidy if loan is released by the bank. Back-ended Interest Subsidy Back-ended interest subsidy at the rate of 3%, subject to a maximum of Rs.10.00 lakh for a period of 5 years is being provided to Micro, Small and Medium Manufacturing Enterprises for term loans up to Rs.1 crore obtained for Technology up-gradation / modernization and Credit Guarantee Fund Trust Scheme (CGFTS). Upon full/part disbursement of loan, Bank will put a claim for subsidy amount (between 15-35% of project cost) in the nodal office. MSME Department The Micro, Small & Medium Enterprises (MSMEs) contribute significantly to value addition, employment generation, exports and overall growth and development of the country’s economy. Accordingly, for manufacturing units, financial assistance upto an amount of Rs. sanctioning a 2nd loan with Subsidy for upgrading the existing units, which are performing well in terms of turnover, profit making and loan repayment. Aadhar Government Scheme Services Study . PM Employment Generation Programme (PMEGP Loan) aims to provide employment opportunities in rural as well as urban areas by starting self employment ventures. Repayment -Repayment period varies from 5-7 years depending upon the gross surplus of the project. through the Commerce & Industries Department will provide admissible financial assistance to unemployed youths. The aid will be of either 50% (for BPL) or 35% (for remaining applicants) of the approved bankable project cost in the form of back-ended subsidy. In urban areas, 15% margin money subsidy for general group and 25% for special group will be available through KVIC. Subsidies can be direct (cash grants, interest-free LOANS, etc.) Submit only 2 documents and get funding in just 24 hours- Apply Now. See more. PMEGP Loan: PMEGP is a credit-linked subsidy programme run by Ministry of Micro, Small and Medium Enterprises, Government of India. As such if you have paid money to third party for the purpose Well for any subsidy scheme, pattern of subsidy adjustment is similar. Margin Money: It is kept in a separate SB account with a lock-in of 3 years but adjusted with the KVIC loan. Subsidy 15% of Project Cost sanctioned by the DIC/RJD, Chennai 32. dic subsidy scheme . Subsidize definition, to furnish or aid with a subsidy. Bank of Baroda is the convenor of Diu&Daman and UT of Dadra- Well for any subsidy scheme, pattern of subsidy adjustment is similar. 2. The objective of the scheme is to provide financial assistance in the form of margin/seed money for the promotion of tiny industries in semi-urban and rural areas with a view to generate employment opportunities including self employment. 9.5 to Rs.23.75 lakh. 5. Repayment -Repayment period varies from 5-7 years depending upon the gross surplus of the project. Interest Subsidy : 7% maximum up to 1 crore per annum for period of 5 years. 1 crore. There are numerous schemes implemented by various State Government Departments/Corporations such as Social Justice Department, Mahatma Phule Scheduled Caste Development Corporation, Vasantrao Naik VJ/NT Development Corporation, etc. Interest Subsidy Consultant CLCSS Subsidy We are Credit Linked Capital Subsidy Consultant for all over india this is the subsidy on which approx 15% subsidy can be availed on Bank Term Loan, SME Loans on New Machinery Purchase. Handicapped Below 40% Copyright © 2018 SLBC Gujarat. 1.25 lacs. Implementing agency – District Industries Centre (DIC), AREA ST SC other Government of India has approved the introduction of a new credit linked subsidy programme called Prime Minister‟s Employment Generation Programme (PMEGP) by merging the two schemes that were in operation till 31.03.2008 namely Prime Minister‟s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP) for generation of employment opportunities through establishment of … Subsidy schemes for micro manufacturing enterprises Subsidy schemes for Small and Medium manufacturing enterprises establishing in 251 Industrially Backward Blocks Susidy schemes for Agro based Small and Medium manufacturing enterprises established in all the 385 blocks of the State. 6. However, in case of Seed Money Scheme and District Industries Centre Loan Scheme, second charge is to be created on the assets created. 1% additional interest subsidy to youth having less than 35 years of age in case of first project. 10 lakh. 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