1.2. Credit Guarantee Trust Fund for Micro & Small Enterprises (CGT SME)
Description
Ministry of Micro, Small and Medium Enterprises and Small Industries Development Bank of India (SIDBI) jointly established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement Credit Guarantee Scheme for Micro and Small Enterprises. The corpus of CGTMSE is contributed by Government of India and SIDBI. 75% of the loan amount to the bank is guaranteed by the Trust Fund.
Nature of assistance
Collateral free loan up to a limit of ₹ 100 lakh is available for individual MSE on payment of guarantee fee to bank by the MSE.
Who can apply?
Both existing and new enterprises are eligible under the scheme.
How to apply?
Candidates meeting the eligibility criteria may approach banks / financial institutions, and select Regional Rural Banks which are eligible under the scheme. Web links are www.dcmsme.gov.in/schemes/sccrguarn.htm
Whom to contact
1) CEO, CGT SME
Ph: 022-61437805
Email: pradeepm[at]cgtmse[dot]in
2) JDC, O/o DC, MSME
Ph: 011-23061726
Email : deepak[dot]rao[at]nic[dot]in
1.3. Interest Subsidy Eligibility Certificate (ISEC)
Description
The Interest Subsidy Eligibility Certificate (ISEC) Scheme is an important mechanism of funding khadi programme undertaken by khadi institutions. It was introduced to mobilise funds from banking institutions for filling the gap between the actual fund requirements and availability of funds from budgetary sources.
Nature of assistance
Under the ISEC Scheme, credit at a concessional rate of interest of 4% per annum for working capital, is made available as per the requirement of the institutions. The difference between the actual lending rate and 4% is paid by the Central Government through KVIC to the lending banks.
Who can apply?
The Khadi institutions, having valid Khadi certificate and sanctioned khadi programme.The Institutions registered with the KVIC/State Khadi and Village Industries Boards (KVIBs) can avail of financing under the ISEC Scheme, the Scheme supports only the khadi and the polyvastra sector.
How to apply?
The Khadi institutions will apply to the financing bank for working capital alongwith the ISEC certificate issued by KVIC. Based on the working capital sanctioned, financing bank will raise the reimbursement claim to the nodal branch for the differential interest rate over and above 4%.
Whom to contact
Dy. CEO, KVIC
Ph: 022-26710021
Email: kvicecr[at]gmail[dot]com
2.1.
Market Promotion & Development Scheme (MPDA)
Description
The Market Promotion and Development Assistance Scheme (MPDA) has been launched as a unified scheme by merging different schemes implemented by the Khadi sector including publicity, marketing, market promotion, and marketing development assistance. Further, a grant/subsidy will also be available for the construction of Khadi plazas. The overall objective of the scheme is to ensure increased earnings for artisans.
Nature of assistance
Modified MDA (MMDA) shall be allowed @ 30% on the Prime cost of Khadi (cotton, silk, woolen) and Polyvastra
Who can apply?
The Khadi institutions, having valid Khadi certificate and categorized as A+, A, B and C only are eligible to avail MMDA grant from KVIC.
How to apply?
The total amount of MMDA on production will be claimed by the producing Institution from the KVIC and will be distributed amongst the stakeholders viz., spinners and weavers, producing Institutions and selling Institutions in the ratio 40%, 20%, and 40% respectively. Producing Institutions shall submit quarterly claims of MMDA based on the actual production achieved during the preceding quarter of the financial year. The difference, if any, would be adjusted in the last quarter of the financial year on the basis of accounts audited by a Chartered Accountant. The MMDA, preferably, shall be reimbursed electronically by the State/Divisional office of the KVIC on a quarterly basis.
Whom to contact
Dy. CEO, KVIC
Ph: 022-26710021
Email: kvicecr[at]gmail[dot]com
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