A. The programme will subsidize an acquisition of asset by 50% of its cost, up to a maximum of Rs. 1.00 lakh, and the rest amount of the cost being loaned by the applicant from the bank. This assistance will be for acquisition of assets by beneficiaries for setting up of new businesses or expanding/ diversifying existing businesses.
A. • The applicant should belong to Kapu, Balija, Telaga and Ontari communities.
Gajula Balija and Setti Balija communities from Rayalaseema region are eligible.
Turupu Kapu and Gajula Kapu communities are not eligible. Applicants from Reddy community from Nellore, Chittoor, Kadapa, Ananthapuramu and Kurnool district with kapu caste certificates issued by Tahsildhar are not eligible.
The applicant should belong to a family holding white ration card.
The applicant should be between the ages of 21 to 50 years of age while applying to the scheme.
A shelf of project/activities for which assets can be acquired though this scheme is proposed by the corporation, though the applicant can propose any viable activity and it can be considered by the corporation on merits.
The applicant should not have availed himself/herself of any amount under any other Government scheme/program for the same purpose.
The beneficiaries who have received financial assistance previously from Kapu Corporation in the previous years are not eligible.
A. You will need to register as a candidate first at kapucorp.ap.gov.in or at nearest mee-seva centre. Upon registering you will be directed to login and complete your personal profile.
Immediately after registration, you will be notified through mobile message with application ID and you need to download acknowledgement after registration. Preserve this acknowledgement for future usage.
A. Candidates will be shortlisted basing on Mandal/Municipality wise targets for interview by the MPDO/ Municipal Commissioner/ Commissioner, Municipal Corporation of your Mandal and you will be communicated if shortlisted.
Applications will be scrutinised with reference to the original copies of certificates produced by the beneficiaries.
The concerned MPDO/Municipal Commissioner/ Commissioner, Municipal Corporation will convene a meeting with the selection committee members for scrutinizing and selection of beneficiary.
The Selected candidates will have to give their Bio-metrics (thumb impressions) at concerned office of MPDO/Municipal Commissioner/ Commissioner, Municipal Corporation.
Candidates credentials viz Caste, Income, Aadhar and Date of Birth will be verified by the MPDO and sent to the respective offices of Executive Directors of BC Corporation for next level of sanction by the District collector. Ineligible candidates will be summarily rejected.
A. There is no need to follow up. Candidates will be shortlisted basing on Mandal / Municipality wise targets for interview by the MPDO/ Municipal Commissioner/ Commissioner, Municipal Corporation of your Mandal and you will be communicated if shortlisted
However, helpdesk is available at Kapu Corporation Head Office for any other clarifications.
A. The subsidy amount would be released to the sanctioned beneficiaries by the APSKWDCL once the two Bank account numbers (Non-operative SB account number and Loan account number) and IFSC Code of the respective Bank branches are uploaded into the website of APSKWDCL (www.kapucorp.ap.gov.in) by ED Office. subsidy will be released through online (e-payment) directly into Non-operative SB account of the beneficiary. The beneficiary will be notified through mobile message immediately after release of subsidy.
The released subsidy in favour of the beneficiary will be kept in the Term Deposit for a Period of two years at Branch level in the name of beneficiary.
The implementing bank shall lease the entire total outlay of the sanctioned unit.
The implementing bank will ground the total outlay of the unit cost initially with the bank account within 15 days from the date of release of subsidy.
No interest will be paid on the TDR and no interest will be charged on loan to the corresponding amount of TDR.
The Bank branch will adjust the TDR amount (Subsidy) to the loan account of the beneficiary only after satisfactory physical verification report given by the competent authority