SALIENT FEATURES

• Nodal Agency-KVIC.
• implementation in the ratio of 30:30:40 through KVIC/KVIB/DIC (In Rural areas) & DIC (In Urban areas)
• No Income ceiling for selection of the beneficiary
• per head investment for employment generation ₹ 1 lakh in plain areas and ₹ 1.50 lakhs in hill areas

PURPOSE

• To generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures /projects/micro enterprises

ELIGIBILITY

• Only new units will be considered for financing
• Individual with min 18 yrs of age (for project above ₹ 10 lakhs in manufacturing and ₹ 5 lakhs in service min qualification .Class viii std)
• SHG /Trust/Regd. Societies/ Production Co-op Societies
• Special Category groups/ Societies to enclose relevant Certificate with MM claim otherwise will be treated as General category
• By laws to be produced by SHG/ Societies
• Project cost MUST include Capital Expenditure + one cycle of working Capital. Projects cost will not include cost of land but 3 year's rent may be included incase facility's premises are leased

LOAN AMOUNT

• Manufacturing: up to ₹25 lakhs
• Service Sector :up to 10 lakhs₹

MARGIN

• General - 10% of Project Cost
• Special Category - 5% of project Cost

INTEREST RATE

As prescribed by the Bank. Interest will be applied on monthly compounding basis