A. Corporation has made arrangements for giving hand holding support in establishing and maintenance of enterprise while selecting the group itself. However continuous monitoring would be done and necessary suggestions would be given .EDP training will be given to all group members before establishing the enterprise.
Subsidy will be released to the separate bank branch account (non-operative) and be kept in for a period of two years at branch level in the name of the beneficiary. The implementing bank shall release the entire total outlay of the sanctioned unit. The subsidy amount will not be adjusted to the bank loan account till the lock in period as it is back ended subsidy. Lock in period is 2 years. Pro rate release of subsidy is not permitted.
No interest will be paid on the subsidy account and no interest will be charged on loan to the corresponding amount of the loan.
Subsidy maximum allowed is Rs.10 lakhs irrespective of the Project cost which should be a minimum Rs.25 lakhs. Hence percentage concept does not arise.
If one of the members availed subsidy under any other scheme the member is not eligible to be part of the proposed group
A. No. The scheme is applicable for Kapu, Balija, Telaga and ontari communities.However Gajula balijaand setti balija communities ofm rayalaseema districts are also eligible. Reddy community of Nellore, Chittoor, Kadapa, Ananthapuram and Kurnool Districts with Kapu caste certificates issued by Tahasildars are not eligible Turpu Kapu and Gajula Kapu communities are also not eligible