CM Self Employment Scheme
The benefit of the scheme will be payable only for the installation of new entrepreneurs. The provisions of this scheme will be similar to different departments from 01/08/2014. The provisions regarding planning and financial assistance will be as follows.
Project cost: Rupees 20 thousand to 10 million
Eligibility: – Should be a native of Madhya Pradesh and do not have any defaults from any bank. Only one person will be given benefits once this scheme is planned.
(A) Age – 18-45 years
(B) Educational Qualification – Passing minimum fifth class
(C) Income – Limit No Bondage
Financial Assistance: (A) Margin Money Assistance, (a) 15% of the project cost for the general category is Rs.1 lakh, (b) BPL / Scheduled Castes / Scheduled Tribes / Other Backward Classes (excluding Chemlearers) / Women / Minority / 30% of the cost of project cost for free, maximum 2 lakhs
(B) Interest subsidy @ 5% per annual maximum upto 7 years 25000 per annual
(C) Guaranteed Fee (CGT) – up to a maximum of 7 years at the prevailing rate
• The application form will be included in the concerned municipality along with the affidavits. The departmental selection committee will be examining the applications and will be sent to the bank for resolution.
• R.B.I. As per the instructions of the bank, the bank will be resolved within 30 days of receipt of the case and within 15 days of acceptance of the case, the bank will distribute the loan.