- Any individual, above 18 years of age
- For setting up of project costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business /service sector, the beneficiaries should possess at least VIII standard pass educational qualification.
- Self Help Groups
- Existing Units (Under PMRY, REGP or any other scheme of Government of India or State Government) and the units that have already availed Government Subsidy under any other scheme of Government of India or state Government are not eligible.
||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.
|Quantum of Finance
- The maximum cost of the project/unit admissible under manufacturing sector is Rs. 25 lakh.
- The maximum cost of the project/unit admissible under business/service sector is Rs. 10 lakh.
||General Category – upto 10%, Special Category – upto 05%
||Normal rate of Interest applicable
||3 to 7 years
||No collateral security will be insisted upon by Banks in line with the guidelines of RBI for projects involving loan upto Rs.10 lakh
||General Category – upto 25%, Special Category – upto 35%