christianminorities.ap.nic.in : Subsidy For Bank Linked Income Generated Schemes Andhra Pradesh

Organization : Andhra Pradesh State Christian (Minorities) Finance Corporation
Service Name : Subsidy For Bank Linked Income Generated Schemes
Applicable States/UTs: Andhra Pradesh

Website : http://christianminorities.ap.nic.in/schemes.html#a

Subsidy For Bank Linked Income Generated Schemes:

The scheme is for individuals who desires to setup self employment activities where the maximum unit cost is up to Rs. 2,50,000/-. The Corporation provides a subsidy @ 50% of the total loan subject to a maximum of Rs.1,00,000/-., 10% is the beneficiary contribution and the remaining is Bank loan.

Related : Andhra Pradesh CGMS Citizen Grievance Monitoring System : www.statusin.in/10447.html

Eligibility:
** Should be a Christian
** Community certificate issued by Tahasildar/ Transfer Certificate of School to be submitted/Baptism Certificate issued by Mainline Church Pastor.
** Age between 21 to 55 years
** Any age proof certificate to be submitted-SSC Marks memo etc.
** Annual family income below Rs. 1,50,000/- for Rural and Urban for Rs.2,00,000/-
** Income certificate issued by Tahasildar from Mee Seva to be submitted
** Ration Card is Mandatory
** One Passport Size PhotoGraph

Procedure:
** Every Beneficiary can apply Online only through MPDO’s/District Office of the concerned Mandal/District;
** After applying in the portal, the beneficiary should submit the application form and enclosures to the concerned District Officer(Executive Director, APSCMFC).
** The Bank processes the loan application as per their norm and will accord sanction and intimates through a bank sanction letter.
** After getting approval of the respective District Collector, Subsidy is released from the Head Office(APSCMFC) to the beneficiaries Non-Operative SB Account Number Directly.

Note:
The Government of AP has issued comprehensive guidelines for implementation for Self Employment Schemes being implemented by all welfare Departments including APSCMFC vide GO.MS.No.101 Social Welfare (SCP-I) Dept Dt.31-12-2013, the contents of the GO are as follows.

1. Subsidy pattern of Self Employment Schemes :
a. SC & ST : The subsidy payable from 2013-14 onwards shall be 60% of the unit cost limited to a maximum of Rs.1.00 lakh.
b. BC, Minorities, Disabled welfare: 50% of the unit cost limited to Rs.1.00 lakh.

c. BC Federations Subsidy shall be limited to Rs.25,000/- per member society (federations usually have around 75 societies as members. The subsidy payable shall be Rs.3,75,000/- or less depending on the members of societies)

i In as far as possible 80% of the Budget of the federation shall be utilized for the promotion or up-gradation of traditional occupations (Kula vruthulu).
ii. In respect of the SERP&MEPMA, the funding pattern shall continue as was done earlier.

However the SERP & MEPMA shall ensure that at least 2-3 rounds of funding are made available to the vulnerable communities depending on the repayment of loans availed for the units during the subsequent years with a view to have landholding for a longer period of time.

About Us :
The Andhra Pradesh State Christian (Minorities) Finance Corporation has been formed in November 2008. The main objective of the corporation is to assist the Christians community for their socio-economic development in collabration with Banks and other Development Agencies. The Source of funding for the corporate is from Government of Andhra Pradesh.