Micro Loan with Subsidy Scheme

This Scheme is implemented through self help groups. The Groups so organised should be of 10 to 20 members. The group should have a aim to involve its members in any of the financial thrift activity. The members after forming a self help group should select two of its members as group leader 1 and 2. They should open a bank account in the name of the self help group with the authorised signatory as group leaders 1 & 2. The group should consist of only religious minorities persons. Priority in this scheme will be given to the Women Self help groups. The Minority communities persons residing in city areas and rural areas who wish to start petty business like vegetable/fruit vending through push carts, kallai making, bed making, pan shop, groundnut selling, cycle repairing, gas/arc welding, vulcanizing, fish selling, tea shop etc., will be provided loan of Rs.10,000/- to each members. The loan will be sanctioned directly to the Self help group which in turn will further disbursed the loan to its members with a subsidy of Rs.2500/-.

The loan has to be repaid in 36 monthly instalments @ 5% rate of interest p.a.