Mukhyamantri Swarojgar Yojana

Date : 01/08/2014 - | Sector: RURAL & URBAN AREA

Objective: For promoting entrepreneurship in the Madhya Pradesh without the need for collateral security.
Nodal Office for implementation and monitoring of the scheme: Department of Commerce, Industries and Employment
Implementing Agencies: Panchayat and Rural Development Department for Rural Areas and Department of Commerce, Industries and Employment for Urban Areas.
Project Cost: Ultra Small: Project Cost Up to Rs. 50000 , Small : Project Cost from Rs. 50000 to Rs. 25 lac
Classification of Advance: Micro and Small Enterprises
Repayment: Not exceeding 84 months excluding the moratorium period.
Quantum of Finance: Rs. 25 lac
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
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%
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.
Guarantee Fee:
For project cost up to Rs. 50000 [at] 1% of the loan amount for the first year and [at]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 [at] 1% of the loan amount for the first year and [at]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.

Beneficiary:

Age 18-45 Years , Minimum 5th Class Pass

Benefits:

Financial Assistance

How To Apply

Under this application is used offline.

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