Mukhya Mantri Yuva Swarozgar Yojna Scheme for Madhya Pradesh 1. Objective: For promoting entrepreneurship in the Madhya Pradesh without the need for collateral security. 2. Nodal Office for implementation and monitoring of the scheme: Department of Commerce, Industries and Employment 3. Implementing Agencies: Panchayat and Rural Development Department for Rural Areas and Department of Commerce, Industries and Employment for Urban Areas. 4. Project Cost: Ultra Small: Project Cost Up to Rs.50000 , Small : Project Cost from Rs.50000 to Rs.25 lac 5. Classification of Advance: Micro and Small Enterprises 6. Repayment: Not exceeding 84 months excluding the moratorium period. 7. Quantum of Finance: Rs. 25 lac 8. Margin: State Government will provide 20% of the project cost as Margin Money or Maximum Rs.10000 one shot basis for project cost up to Rs.50000 9. Rate of Interest: For Loan up to Rs.10 lac : BR+0.50%, For Loan above Rs.10 lac and up to Rs.25 lac: BR+1.00% 10. Security: No collateral security if the account is covered under CGTMSE. In other case security of 100% of amount of loan sanctioned to be taken. 11. Guarantee Fee: For project cost up to Rs.50000 @ 1% of the loan amount for the first year and @0.50% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.50% for 4 years, or up to closure of account whichever is earlier will be borne by the Bank. For project cost above Rs.50000 and up to Rs.25 lac @ 1% of the loan amount for the first year and @0.75% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.25% for 4 years, or up to closure of account whichever is earlier will be borne by the Bank. 12. Interest Subsidy by government: 5% for initial 5 years subject to certain limit.
Posted on: Sat, 22 Jun 2013 08:56:56 +0000
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