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MICRO LOAN WITH SUBSIDY SCHEME

MICRO LOAN WITH SUBSIDY SCHEME

 

            This Scheme is implemented through Self Help Groups exclusively managed by minority women and involved in thrift/financial activity.  The Groups so organised should be of 10 to 20 members.  The members, after forming Self Help Group, should select two of its Members as Group Leaders-1 & 2.  They should open a bank account in the name of the Self-help Group with Group Leaders 1 & 2 as Authorised Signatories. The minority community women residing in city areas and rural areas who wish to start petty business like vegetable/fruit vending through push carts, kallai making, bed making, pan shop, groundnut selling, cycle repairing, gas/arc welding, vulcanizing, fish selling, tea shop, tailoring etc., will be provided loan of Rs.10,000/- (i.e., Rs.5,000/- as loan and Rs.5,000/- as Subsidy) to each Member of Self Help Group, The loan will be sanctioned directly to the Self Help Group which, in turn, will further disburse loan to its members.  The loan has to be repaid in 36 monthly installments at an interest rate of 5%.

 

 

 

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Last Updated: 16-08-2021 12:01 PM Updated By: Karnataka Minorities Development Corporation



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