Scheme for the artisans registered as artisans in urban and rural areas of Gujarat to easily get the required money for working capital at low interest.
(1) Purpose: –
The artisans of handloom and handicraft cottage industries of the state of Gujarat need financial capital to purchase raw materials for business development. Artisans have to rely on financial institutions / private lenders for this financial need. Due to the high interest rates, it has become difficult for the cottage industry artisans to survive in the market at present. In these circumstances, the scheme has been implemented to ensure that the artisans registered as artisans in urban and rural areas in the Index-C of the Gujarat Government’s cottage and village industries are easily provided with low interest rates for working capital.
(2) Eligibility of the scheme:
1. Age: Over 18 years.
By Artisan Development Commissioner Handloom / Development Commissioner Handicraft / Index-C
Must have an identity card as a given artisan.
The artisan should be knowledgeable of handicrafts or handicrafts.
Handicapped / blind artisans with deformities will also be able to avail the benefits of this scheme.
There is no income limit
(2) Maximum loan limit:
(1) In this scheme, the beneficiary has to pay Rs. Loans for machinery or working capital (for purchase of raw materials) or both can be availed up to a maximum of Rs. 1.00 lakhs.
(2) Standards of assistance:
1. Margin Money Assistance: The following margin money assistance will have to be paid after the loan sanctioned by the bank under this scheme.
Margin money assistance
General Category (Male) Reserved Category (Scheduled Caste / Scheduled Tribe) / Female / 80% Blind or Handicapped
Under this scheme, interest assistance will be available at the rate of 7 (seven) per cent, which will be credited to the beneficiary’s account every 6 (six) months after receiving a claim from the bank. This assistance will be available for a maximum of three years. Beneficiaries who pay the installment as decided by the regular bank for a maximum period of three years may again avail the benefit under this scheme on the recommendation of the bank. But a maximum of three times the benefit of this scheme can be availed under the same conditions.
(2) Interest rate:
Banks will charge interest for loans at the rate fixed by the Reserve Bank.
(3) Implementing agencies:
For all applications of rural and urban vistair which is the district industry of that district
It remains to contact the center.
(2) Financial Institutions:
(1) National Liver Banks (2) All Regional Rural Banks (3) Cooperative Banks
(2) Public Sector Banks (3) Private Banks
(2) Cottage industry artisans may get financial assistance for the development of new business or existing business for the following purposes.
(1) To purchase raw materials (ii) To purchase tools and machinery
(2) Repayment of loan:
The loan installment has to be started as per the decision of the bank after giving the loan. The loan will have to be repaid regularly in minimum 18 and maximum 6 monthly installments including interest and will be binding on the beneficiary.
Necessary bidding documents along with the application:
Fixed application form (in two copies), two passport size photographs (sticking on both copies of the photo form)
Attach a certified copy of the following documents to the application