Mahila Samriddhi Yojana Credit Based Scheme : Ministry of Social Justice & Empowerment
Organisation : Ministry of Social Justice and Empowerment
Facility Name : Mahila Samriddhi Yojana Credit Based Scheme
Applicable For : SC
Applicable State/UT : All India
Website : https://www.myscheme.gov.in/schemes/cbssc-msy
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What is Mahila Samriddhi Yojana Credit Based Scheme?
Mahila Samriddhi Yojana Credit Based Scheme is a Micro finance scheme by Ministry of Social justice and Empowerment for Women of Scheduled Caste Category with a rebate in interest.
Related / Similar Scheme : New Swarnima Scheme For Women
Unit Cost:
Upto Rs 1,40,000/-
Quantum of Assistance:
up to Rs 90% of the Project Cost
Interest Rate per annum chargeable to:
SCAs – 1 %Beneficiaries – 4 %
Benefits of Mahila Samriddhi Yojana Credit Based Scheme
Financial Assistance:
Up to 90% of Project Cost of Rs. 1,40,000 for small income generating activities at Interest rates chargeable at 4%
Repayment Period:
Within 3 and ½ years, in quarterly installments from date of each disbursement including the moratorium period
Moratorium Period:
3 months.
Note:
On repayment of loans under Mahila Samriddhi Yojana, through the concerned SCAs, the eligible beneficiaries can avail any loan under NSFDC scheme.
Eligibility of Mahila Samriddhi Yojana Credit Based Scheme
The scheme is for entrepreneurs of the Scheduled Caste Category
How To Apply For Mahila Samriddhi Yojana Credit Based Scheme?
To Apply For Mahila Samriddhi Yojana Credit Based Scheme, Follow the below steps
Steps:
** The interested eligible person shall contact the nearest Channeling Agency (https://nsfdc.nic.in/channel-patrners/ ) .
** The loan applications are to be submitted by the eligible target group (Scheduled Castes persons having annual family income up to Rs. 3.00 lakhs ) to the District Offices of State Channelizing Agencies (SCAs).
** The District Offices of SCAs/CAs forward these applications, after scrutiny, to their Head Offices. The viability of the project proposals are appraised by the SCAs and the viable projects are forwarded to NSFDC along with their recommendations for sanction.
** Eligible target group can also submit their loan application to other Channelising Agencies of NSFDC such as Regional Rural Banks/ Public Sector Banks/ NBFC-MFIs etc. with whom NSFDC has signed Memorandum of Agreements.
** The said project proposals are appraised by the Project and Banking Desk. The appraisal report is submitted to the Project Clearance Committee (PCC) for their concurrence.
** The proposals which are found to be in order are recommended for sanction. After sanction, Sanction Letters called as Letter of Intents(LOIs), along with Terms & Conditions are issued to the SCAs/ RRBs/ Public Sector Banks/ NBFC-MFIs etc. for acceptance.
** After acceptance of the terms and conditions of the sanction and fulfillment of Prudential Norms, as applicable, funds are disbursed to the SCAs/ RRBs/ Nationalized Bank for onward disbursement to the beneficiaries.
** The disbursement of funds is made by NSFDC on receipt of demand from the SCAs/ RRBs/ Public Sector Banks/ NBFC MFIs. The loans are to be repaid by the beneficiaries as per the repayment schedule stipulated by the SCAs/CAs
Documents Required For Mahila Samriddhi Yojana Credit Based Scheme
The applicants are required to submit application in NSFDC’s format with details of business and copies of caste, income and experience etc. at the channelising agency office.
Indicative Documents:
** Aadhaar Card
** Income certificate
** Caste certificate
** Bank account statement
FAQ On Mahila Samriddhi Yojana Credit Based Scheme
Frequently Asked Questions FAQ On Mahila Samriddhi Yojana Credit Based Scheme
What is moratorium period?
A moratorium period refers to a particular period of a loan tenure during which the borrower does not have repay anything. It can be described as a waiting period before the borrower will have to start paying the equated monthly installments (EMIs) for his or her loan
Does the scheme provide loans to all Unorganized Workers persons?
No, NSFDC provides loans only to economically poor sections of Scheduled Castes whose annual family income is up to Rs. 3.00 lakh both in rural & urban areas.
How does the scheme provide assistance?
The applicants should contact the Channelizing Agencies if they wish to avail the scheme.
I am a transgender, am I eligible for the course?
No, The scheme is only available for women entrepreneurs.