Under the Shrama Shakthi Loan scheme, religious minority community entrepreneurs will be trained in artistic and technical skills and will be provided a loan of ₹50,000/- with a 4% rate of interest, to be paid in 36 installments.
Shrama Shakthi Scheme - Introduction
Under this scheme, religious minority community entrepreneurs will be trained in artistic and technical skills and provided a loan of ₹50,000/- with a 4% rate of interest, to be paid in 36 installments.
If the beneficiary repays 50% of the loan within 36 months, the remaining 50% of the loan would be considered a back-end subsidy.
If the beneficiary fails to repay the loan within 36 months, 50% of the back-end subsidy will be considered as a loan.
The beneficiaries will be selected by a Selection Panel.
The Selection Panel, which selects the beneficiary, consists of:
- Concerned Deputy Commissioner of the District – Chairman
- Chief Executive Officer of the Zilla Panchayat – Vice-Chairman
- Lead Bank Manager of the concerned District – Member
- Concerned District Regional Transport Officer – Member
- District Officer of the concerned district, Department of Minority Welfare – Member
- District Manager of KMDC in the concerned district – Member Secretary
The following are the eligibility criteria for this scheme:
- The age limit of the applicant should be between 18 and 55 years.
- The applicant must be a permanent resident of the State.
- Applicants must belong to State Religious Minority Community.
- Family income from all sources should be within ₹3.50 lakh per annum.
- An applicant or his/her family members should not have availed benefits under any other scheme (excluding the Arivu Scheme) of the KMDCL in the last 5 years.
- No member of the applicant’s family should be an employee of the State/Central/Government Public Sector Units.
- The applicant shall not be a loan defaulter in KMDC.
The application process has two parts: first it must be completed online, then it proceeds through an offline channel.
- STEP 1: First go to the official website and fill out the application form.
- STEP 2: Print the application form.
- STEP 3: Submit this application form along with other relevant documents to the Selection Panel of your concerned district.
- STEP 4: After the approval of the Selection Panel, the subsidy will be transferred to your bank account.
Eligibility
- The age limit of the applicant should be between 18 and 55 years.
- The applicant must be a permanent resident of the State.
- Applicants must belong to the State Religious Minority Community.
- Family income from all sources should be within Rs. 3.50 lakh per annum.
- An applicant or his/her family members should not have availed benefits under any other scheme, excluding the Arivu Scheme, of the KMDCL in the last five years.