The SESs aims at establishing large number of small units. The entrepreneurs may be individuals or joint ventures/Groups; The Project Reports is prepared in respect of viable schemes; The effort under SESs is to cover maximum number of educated unemployed people; These schemes are credit cum subsidy programmes and envisage greater involvement of Banks; Those who will be sanctioned loans will be given necessary training wherever necessary.
Project Cost
An activity covered under Retail Trade shall qualify for assistance provided the total cost of the scheme does not exceed Rs.2.00 lakhs;
An activity covered under Industries/Services etc. shall qualify for assistance provided the total cost of the scheme does not exceed Rs.3.00 lakhs;
In cased of Joint Ventures, maximum limit of the cost of the Scheme shall be Rs.10.00 lakhs (Joint Venture consisting of at least 2 candidates).
GOVERNMENT ASSISTANCE: Incentives
Government through Employment Department will contribute a Margin Money of 15% of the cost of the Scheme repayable after bank loan is cleared by the entrepreneur. This will be released after bank sanctions the loan and the entrepreneur executes the Margin Money Bond with the Department;
Government through Employment Department shall provide Interest Subsidy for two years on taping basis on the bank loan drawn by the entrepreneur as under:
During first six months 100%
One year after 1st six months 75%
Next Six months 50%
This will be released as and when the claim is received from the bank and shall not be paid on defaulted amount which will be responsibility of the entrepreneur;
The Government through Employment Department will provide 5% capital subsidy of the project cost subject to the maximum of Rs.7500/-
Promoters contribution shall be 5% of the project cost plus the amount of the total shortfall after the deduction of the amount of subsidy;
No collateral for projects up to Rs.1.50 lakhs each. Exemption from collateral in case of a Joint venture shall be limited to Rs.3.00 lakhs; Training free of cost wherever it is felt necessary; Bank loan 75% of the project cost; The Employment Department shall provide suggestive project profiles. |
| He/she must be Middle Pass. However, no educational qualification shall be insisted upon for candidates having qualified training courses of not less than one academic year duration from a Government institution;
He/she must belong to the State of J&K residing in the District where from applied for loan for at least 3 years;
The candidate’s age must be between 18 – 40 years for general categories with 5 years relaxation for women and for persons belonging to the categories of SC/ST/Ex-Servicemen/Physically Handicapped;
The candidate must be unemployed and has not drawn any loan from any bank/financial institutions for setting up of a venture of his/her own.
Contact
Managing Director,
State Financial Corporation, J&K (SFC)
Durga Nag, Dalgate, Srinagar.
Phone-0191-2500716/2500606/2501634
Sehkari Bhawan
Rail Head Complex, Jammu
Phone-240740/2471179/2475581/2471772
Director Sainik Welfare Board,
Department of Sainik Welfare, Jammu |
