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Archives for govt scheme for funding

Rs 1 Lakh Crore Finance Facility For Agri-Infrastructure

Prime Minister Narendra Modi has launched a debt financing facility under the Agriculture Infrastructure Fund with a budget of ₹ 1 lakh crore.

Under this, Farmer Producer Organisation Schemes, self-help groups and agri-entrepreneurs can take loans to build infrastructure for post-harvest management and community farming assets, like cold storage, collection centres and processing units.

Government has also released the next instalment of ₹ 2,000 each to 8.5 crore farmers under the PM-Kisan scheme. This was the sixth instalment of the scheme, which,  launched in 2018, promised to provide direct cash benefit of ₹ 6,000 per year to to more than 10 crore farmers. ₹ 17,100 crore has been spent on the scheme this time.

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Stand Up India

Stand-Up India Scheme for financing SC/ST and/or Women Entrepreneurs.

अनुसूचित जाति / अनुसूचित जनजाति और/या महिला उद्यमियों के वित्तीयन हेतु स्टैंड-अप इंडिया योजना.


Objective उद्देश्य

The objective of the Stand-Up India scheme is to facilitate bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.

उत्तिष्ठ भारत (स्टैंड-अप इंडिया) योजना का उद्देश्य प्रत्येक बैंक शाखा द्वारा कम से कम एक अनुसूचित जाति या अनुसूचित जनजाति के उधारकर्ता और एक महिला उधारकर्ता को नई (ग्रीनफ़ील्ड) परियोजना की स्थापना के लिए रु. 10 लाख से रु. 1 करोड़ के बीच बैंक ऋण प्रदान करना है। ये उद्यम विनिर्माण, सेवा या व्यापार क्षेत्र से संबंधित हो सकते हैं। गैर-व्यक्ति उद्यम के मामले में, 51% शेयरधारिता व नियंत्रक हिस्सेदारी अनुसूचित जाति /अनुसूचित जनजाति या महिला उद्यमी के पास होनी चाहिए।


Eligibility पात्रता
  1. SC/ST and/or woman entrepreneurs, above 18 years of age.
    अनुसूचित जाति / अनुसूचित जनजाति और/या महिला उद्यमी, जिनकी आयु 18 वर्ष से अधिक है।
  2. Loans under the scheme is available for only green field project. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing or services or trading sector.
    योजना के अंतर्गत सहायता केवल नई (ग्रीनफ़ील्ड) परियोजनाओं के लिए उपलब्ध है। इस संदर्भ में, नई (ग्रीनफ़ील्ड) परियोजना का अर्थ है – लाभार्थी का विनिर्माण या सेवाक्षेत्र या व्यापार क्षेत्र में पहली बार उद्यम लगाना।
  3. In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
    गैर-व्यक्ति उद्यम के मामले में, 51% शेयरधारिता या नियंत्रक हिस्सेदारी अनुसूचित जाति / अनुसूचित जनजाति और/या महिला उद्यमी के पास होनी चाहिए।
  4. Borrower should not be in default to any bank/financial institution.
    उधारकर्ता किसी बैंक /वित्तीय संस्था के प्रति चूककर्ता न हो।


Nature of Loan सहायता का स्वरूप

Composite loan (inclusive of term loan and working capital) between 10 lakh and upto 100 lakh.
10 लाख से 100 लाख तक के बीच सम्मिश्र ऋण (सावधि ऋण और कार्यशील पूँजी सहित)।


Purpose of Loan ऋण का प्रयोजन

For setting up a new enterprise in manufacturing, trading or services sector by SC/ST/Women entrepreneur.
अनुसूचित जाति /अनुसूचित जनजाति /महिला उद्यमी द्वारा विनिर्माण, व्यापार या सेवाक्षेत्र में नए उद्यम की स्थापना के लिए।


Size of Loan ऋण का आकार

Composite loan of 75% of the project cost inclusive of term loan and working capital. The stipulation of the loan being expected to cover 75% of the project cost would not apply if the borrower’s contribution along with convergence support from any other schemes exceeds 25% of the project cost.
सावधि ऋण और कार्यशील पूँजी सहित परियोजना लागत का 75% संमिश्र ऋण। यदि किन्हीं अन्य योजनाओं से संमिलन सहायता के साथ उधारकर्ता का अंशदान परियोजना लागत से 25% अधिक हो तो, परियोजना लागत का 75% कवर करने में अपेक्षित ऋण संबंधी शर्त लागू नहीं होगी।


Interest Rate ब्याजदर

The rate of interest would be lowest applicable rate of the bank for that category (rating category) not to exceed (base rate (MCLR) + 3%+ tenor premium).
ब्याज दर संबंधित निर्धारित श्रेणी (रेटिंग श्रेणी) के लिए बैंक द्वारा प्रयोज्य न्यूनतम ब्याज दर होगा, जो (आधार दर (एमसीएलआर) + 3% + आशय प्रीमियम) से अधिक नहीं होगा।


Security. प्रतिभूति

Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) as decided by the banks.
बैंकों के निर्णय के अनुसार, प्राथमिक प्रतिभूति के अतिरिक्त, ऋण संपार्श्विक प्रतिभूति द्वारा या स्टैंड-अप इंडिया ऋण हेतु ऋण गारंटी निधि योजना की गारंटी से प्रत्याभूत किया जाएगा।


Repayment चुकौती

The loan is repayable in 7 years with a maximum moratorium period of 18 months.
अधिकतम 18 माह की ऋण स्थगन की अवधि सहित ऋण की चुकौती 7 वर्षों में की जाएगी।


Working Capital कार्यशील पूँजी

For drawal of Working capital upto 10 lakh, the same may be sanctioned by way of overdraft. Rupay debit card to be issued for convenience of the borrower.
10 लाख तक की कार्यशील पूँजी के आहरण के लिए, कार्यशील पूँजी अधिविकर्ष (ओवरड्राफ़्ट) के रूप में मंजूर की जाएगी। उधारकर्ता की सुविधा के लिए, रुपे डेबिट कार्ड जारी किया जाएगा।

 

Working capital limit above 10 lakh to be sanctioned by way of Cash Credit limit.
10 लाख से अधिक की कार्यशील पूँजी के लिए, कार्यशील पूँजी नक़दी उधार सीमा के रूप में मंजूर की जाएगी।


Margin Money मार्जिन राशि

The Scheme envisages 25% margin money which can be provided in convergence with eligible Central / State schemes. While such schemes can be drawn upon for availing admissible subsidies or for meeting margin money requirements, in all cases, the borrower shall be required to bring in minimum of 10% of the project cost as own contribution.
इस योजना में 25% मार्जिन राशि का प्रावधान है, जोकि पात्र केन्द्रीय/ राज्य योजनाओं के रूपान्तरण से उपलब्ध कराया जा सकता है। इस तरह की योजनाऔं में प्राप्त अनुदान सहायता अथवा मार्जिन राशि आवश्यकताओं को पूरा करने के लिए, ऐसे सभी मामलों में, उधारकर्ताओं को परियोजना लागत का न्यूनतम 10% अपना अंशदान लाना अपेक्षित होता है।


Checklist – Stand- Up India loan Application

  • Proof of Identity : Voter’s ID Card / Passport / Driving License / PAN Card / Signature identification from present bankers of proprietor, partner of director ( if a company)
  • Proof of residence: Recent telephone bills, electricity bill, property tax receipt /Passport / voter’s ID Card of Proprietor, partner of Director (if a company)
  • Proof of business Address
  • Applicant should not be defaulter in any Bank/F.I.
  • Memorandum and articles of association of the Company / Partnership Deed of partners etc.
  • Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
  • Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable.
  • SSI / MSME registration if applicable.
  • Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan
  • Photocopies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities.
  • Documents to establish whether the applicant belongs to SC/ST Category, wherever applicable.
  • Certificate of incorporation from ROC to establish whether majority stake holding in the company is in the hands of a person who belongs to SC/ST/Woman category.
  • For Cases With Exposure above ₹ 25 Lakhs
    • Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken addresses of all offices and plants, shareholding pattern etc.
    • Last three years balance sheets of the Associate / Group Companies (if any).
    • Project report (for the proposed project if term funding is required) containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, capacity of utilization assumed, production, sales, projected profit and loss and balance sheets for the tenor of the loan, the details of labour, staff to be hired, basis of assumption of such financial details etc.
    • Manufacturing process if applicable, major profile of executives in the company, any tie-ups, details about raw material used and their suppliers, details about the buyers, details about major-competitors and the company’s strength and weaknesses as compared to their competitors etc.

The check list is only indicative and not exhaustive and depending upon the local requirements at different places addition could be made as per (necessity).

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The Venture Capital Assistance Scheme

Venture Capital Assistance is financial support in the form of an interest free loan to qualifying projects to meet shortfall in the capital requirement for the implementation of the project.

Benefits

  • helps in assisting agripreneurs to make investments in setting up agribusiness projects through financial participation
  • Provides financial support for the preparation of bankable Detailed Project Reports (DPRs) through Project Development Facility (PDF).

Eligibility Criteria

The following are eligible for the Venture Capital Assistance scheme.

  •  Farmers
  •  Producer Groups
  • Partnership/Proprietary Firms
  • Self Help Groups
  • Companies
  • Agripreneurs
  • units in Agri export zones
  • Agriculture graduates Individually or in groups for setting up agribusiness projects.

Application Procedure

One can only apply online, offline application forms will not be accepted. Also, below are the checklist before applying for the scheme.

Sno. Checklist
1 Promoter’s request letter addressed to the Managing Director SFAC, New Delhi on original letterhead of firm/company
2 Sanction letter of Sanctioning authority addressed to recommending branch
3 Bank’s approved Appraisal/Process note bearing signature of sanctioning authority with terms of sanction of term loan
4 Up-to-date statement of account of Term loan and Cash Credit (if sanctioned)
5 Equity Certificate:
a)C.A. certificate in case of Partnership or Proprietorship firms.
b)Form-2(PAS-3), FORM-5(SH-7) and other documents in lieu of FORM-23 filed with ROC for
6 Farmer’s list/backward linkage duly supported by agreement
7 Affidavit of promoters that they have not availed VCA in the past
8 Unsecured loans raised by the promoters (If any). CA Certificate to be enclosed
9 Copy of last Bank’s inspection report
10 Bank’s confirmation that they will not release primary & collateral security without SFAC consent
11 Justification for margin on working capital taken in the project cost
List of Enclosures to be submitted along with the form
Sno. Enclosures
1 Promoter’s request letter addressed to the Managing Director SFAC, New Delhi on original letterhead of firm/company
2 Sanction letter of Sanctioning authority addressed to recommending branch
3 Bank’s approved Appraisal/Process note bearing signature of sanctioning authority with terms of sanction of term loan
4 Up-to-date statement of account of Term loan and Cash Credit (if sanctioned)
5 Equity Certificate: a)C.A. certificate in case of Partnership or Proprietorship firms. b)Form-2(PAS-3), FORM-5(SH-7) and other documents in lieu of FORM-23 filed with ROC for Company
6 Farmer’s list/backward linkage duly supported by agreement
7 Affidavit of promoters that they have not availed VCA in the past
8 Unsecured loans raised by the promoters (If any). CA Certificate to be enclosed
9 Copy of last Bank’s inspection report
10 Bank’s confirmation that they will not release primary & collateral security without SFAC consent
11 Justification for margin on working capital taken in the project cost

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Get Startup Fund by participating in An Innovation Challenge:- ‘Waste to Wealth’ mission announces Biomedical Waste Treatment

The Government of India has set up the “Swachh Bharat Unnat Bharat” Waste to Wealth Mission to identify innovative technology solutions for waste challenges.

The Government of India invited to startups for technology applications to address the challenge of safe collection, disposal/ treatment of waste generated during the ongoing COVID-19.

Incentives

Fiscal Incentives

Selected applicants will be provided with suitable fiscal support to demonstrate their prototype.

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Prime Minister’s Employment Generation Programme (PMEGP)

MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES (ARI Division Schemes)

The scheme is implemented by Khadi and Village Industries Commission (KVIC) as the nodal agency at the national level. At the state level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs) and District Industries Centres (DICs) and banks. The Government subsidy under the scheme is routed by KVIC through the identified Banks for eventual distribution to the beneficiaries/entrepreneurs into their bank accounts.

Benefits of Prime Minister’s Employment Generation Programme (PMEGP)
  • MSMEs can upgrade their competence in terms of business and technologies by getting rated through independent, renowned and professional rating agencies empanelled with NSIC.
  • MSEs which get rated under NSIC- “Performance and Credit Rating scheme” have the liberty to get rated by any one of the rating agencies of their preference.
  • It also invariably increases their creditability in business and helps them in getting timely credit from banks at liberal rate of interest.
Nature of Assistance

The maximum cost of the project/unit admissible in manufacturing sector is Rs.25 lakhs and in business/service sector is Rs.10 lakhs.

 

Levels of funding under PMEGP:

Categories of Beneficiary’s under PMEGP                         Beneficiaries contribution (of project cost) Rate of subsidy (of project cost)       
Area (location of

project/unit)

  Urban Rural
GENERAL CATEGORY 10% 15% 25%
Special (including SC/ST/ OBC/ Minorities /Women, Ex-servicemen, Physically handicapped, NER, Hill and Border areas, etc.) 5% 25% 35%

The balance amount of the total project cost will be provided by the banks as term loan and working capital.

 

Who can apply?

Any individual above 18 years of age can apply. The beneficiary must have passed at least VIII standard for projects costing above Rs.10 lakh in the manufacturing sector, and above Rs.5 lakh in the business/service sector. Only new projects are considered for sanction under PMEGP. SHGs (including those belonging to BPL, provided that they have not availed benefits under any other scheme), Institutions registered under Societies Registration Act, 1860; Production Co-operative Societies, and Charitable Trusts are also eligible.

Existing units (under PMRY, REGP or any other scheme of Government of India or State Government) and units that have already availed Government subsidy under any other scheme of Government of India or State Government are not eligible.

 

How to apply?

The State/Divisional Directors of KVIC in consultation with KVIB and Director of Industries of the respective states (for DICs) will give advertisements locally through print & electronic media inviting applications along with project proposals from prospective beneficiaries desirous of establishing the enterprise/starting of service units under PMEGP.

The beneficiaries can call or Whatsapp at 07678456921.

 

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