Organisation : Industries & Commerce Assam
Scheme Name : Sarothi Scheme
Applicable States/ UTs : Assam
Website : https://industries.assam.gov.in/
Details Here : https://www.statusin.in/uploads/37951-Sarothi.pdf
Industries Assam Sarothi Scheme
The entrepreneurs of the State, more particularly the 1st generation entrepreneurs are facing problem to convert their ideas into reality due to lack of adequate resources in the form of equity, loan, etc.
Related : Industries & Commerce Assam Boneej Scheme : www.statusin.in/37946.html
Getting loan or financial assistance from Bank/Financial Institutions for any new venture is a major problem in the State as Banks/Financial Institutions are very reluctant to provide loan considering it as a risk for them.
Objective of the Scheme
The basic objective of the scheme is to provide financial assistance in the form of loan with Interest subvention through a designated Bank covering whole of Assam. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention @ 5% P.A.
Designated Bank
The financial assistance has been proposed to be provided in the form of Interest Subvention on loan (Term Loan +Cash Credit) @ 5% P.A. initially through Assam GraminVikash Bank (AGVB) to applicant industries. Later on Government may bring in more bank/s under the purview of the scheme.
As Assam GraminVikash Bank don’t have it existence in the Hill Districts of the Assam viz, Karbi Anglong &DimaHasao, DIC, Govt. of Assam shall arrange to rope in any other Bank for implementation the scheme in those Districts.
Coverage & Target Group
The coverage of the scheme shall be :
(1) All innovative start-up industrial activities and new individual applicant shall be eligible to get the benefit under the scheme.
(2) New MSME units.
(3) Priority shall be given to the applicant having any kind of skill development training.
(4) The applicant should not be a defaulter of any Bank/ Financial Institution.
Role of the State Government
(1) All new innovative start-up industrial activities and individual applicant for new unit shall be eligible for interest subvention on credit uptoRs.- 10.00 lakh.
(2) The funding of this Subvention will be meet out of the fund parked at the Escrow Account to be specifically maintained at Assam GraminVikash Bank, Chandmari, Guwahati Branch.
(3) DICC shall finalise AGVB Branch wise/District-wise target for a financial year and communicate it to the AGVB Head Office and get it accepted by the bank before starting the process of selection of beneficiaries under the scheme.
(4) On receipt of the Application by DICC from the applicant, it shall be scrutinised by the official of DICC and placed before District level Committee (DLC) constituted for approval.
(5) DLC shall include the Branch Manager of the nodal Branch of AGVB in the district, who will be involved in the process of selection of beneficiaries under the scheme.
Procedure for Submission Of Application
(1) Application for the financial assistance under the scheme shall be submitted to the concerned General Manager, District Industries & Commerce Centre (DICC) in prescribed form (Annexure-A ) along with the supporting documents as per checklist annexed with the application form.
(2) DICC shall finalize AGVB branch-wise/ district-wise target for the financial year and communicate it to the AGVB HO and get it accepted by the Bank before starting the process of selection of beneficiaries under the scheme.
(3) On receipt of the application by DICC, from the applicants, it shall be scrutinized by the officials of DICC and placed before the District Level Committee (DLC) constituted for approval.
(4) DLC shall include the Branch manager of the nodal branch of AGVB in the district, who will be involved in the process of selection of beneficiaries under the scheme.
(5) On receipt of the approval of the DLC, the proposal shall be forwarded to the concerned Branch/es of Assam GraminVikash Bank for sanction.
(6) On receipt of the proposal from DI&CC, concerned branch will examine the proposal thoroughly with due diligence and dispose of (sanction/rejection) to the proposal within 30 days.