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Mukhya Mantri Yuva Swarozgar Yojna Scheme for Madhya Pradesh

 

 

 

1.      Objective: For promoting entrepreneurship in the Madhya Pradesh without the need for collateral security.

 

2.      Nodal Office for implementation and monitoring of the scheme: Department of Commerce, Industries and Employment

 

3.      Implementing Agencies: Panchayat and Rural Development Department for Rural Areas and  Department of Commerce, Industries and Employment for Urban Areas.

 

4.      Project Cost: Ultra Small: Project Cost Up to Rs.50000 , Small : Project Cost from Rs.50000 to Rs.25 lac

 

5.      Classification of Advance: Micro and Small Enterprises

 

6.      Repayment:  Not exceeding 84 months excluding the moratorium period.

 

7.      Quantum of Finance: Rs. 25 lac

 

8.      Margin: State Government will provide 20% of the project cost as Margin Money or  Maximum Rs.10000 one shot basis for project cost up to Rs.50000

 

9.      Rate of Interest: For Loan up to Rs.10 lac : BR+0.50%, For Loan above Rs.10 lac and up to Rs.25 lac: BR+1.00%

 

10.  Security: No collateral security if the account is covered under CGTMSE. In other case security of 100% of amount of loan sanctioned to be taken.

 

11.  Guarantee Fee:

 

For project cost up to Rs.50000

@ 1% of the loan amount for the first year and @0.50% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.50%  for 4 years, or up to closure of account whichever is earlier will be borne by the Bank.

For project cost above Rs.50000 and up to Rs.25 lac

@ 1% of the loan amount for the first year and @0.75% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.25%  for 4 years, or up to closure of account whichever is earlier will be borne by the Bank.

 

12.  Interest Subsidy by government: 5% for initial 5 years subject to certain limit.

 

 



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