The scheme aims to encourage the entrepreneur to set up Silk Weaving Units in Puducherry. This margin money grant will reduce the initial financial burden on the entrepreneurs while availing term loan/working capital loan from the financial institutions for setting up of silk weaving units.
"Grant of Margin Money for Availing the Capital Loan" Component of the "Development of Silk" Scheme - Introduction
The "Grant of Margin Money for Availing the Capital Loan" Component of the "Development of Silk" Scheme by the Department of Industries and Commerce, Union Territory of Puducherry, aims to encourage the entrepreneur to set up Silk Weaving Units in Puducherry. This margin money grants will reduce the initial financial burden on the entrepreneurs while availing term loan/working capital loan from the financial institutions for setting up of silk weaving units.
Benefits
- 25% as margin money (restricted to ₹50,000) on the loan amount, upon receipt of sanction order from the financial institution.
- The amount is released to the bank on behalf of the entrepreneurs.
Eligibility
- The applicant should belong to Puducherry by virtue of birth or by residence continuously for 5 years.
- The applicant should ascertain availability of loan.
- The silk unit should be set up in Puducherry.
- The unit should start its commercial production within six months from the date of release of the Margin Money Grant.
- The income of the applicant and his/her family members should not be more than ₹1,00,000/- and above from all sources.
Application Process
- Step 1: The interested applicant should take print of the dic.py.gov.in of the application form.
- Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
- Step 3: The interested applicant should visit (on a working day, and during office hours) the District Industries Centre (Thattanchavady, Puducherry - 605 009), and submit the duly filled and signed application form and the documents to the concerned authority.
- Step 4: On receipt of the application, necessary entries will be made in the application receipt register and a unique number is assigned to the applicant for identifying each applicant which shall be used for all further references and also as acknowledgement for the receipt of the application.