Financial assistance to Muslims and Christians majorly under subsidy for bankable scheme - Andhra Pradesh

Extract from scheme:
The Andhra Pradesh State Minorities Finance Corporation Limited extending financial assistance by way of Grant-in-Aid to the Socially and Economically weaker sections of Minorities viz., Muslims, Sikhs, Buddhists, Parsis and Jains for setting up of Business, Servicing, Agriculture, Small Industries and other allied viable activities to make them self employable and to earn their livelihood.

Aims and Goals of the Organization
1. Socio Economic Development
2. Advancement of Women
3. Developing confidence among minorities of being important stakeholders in Nation buildings.

SUBSIDY FOR BANKABLE SCHEME:
The Andhra Pradesh State Minorities Finance Corporation Ltd., implementing
Subsidy for Bankable Scheme to assist the beneficiaries by linked to the credit
component of Banks.

NO OF BENEFICIRIES TO BE ASSITED:
Under Subsidy for Bankable scheme 3464 needy Minorities will be benefited with State Government Subsidy amounting to Rs. 1732.00 lakhs during the year 2015-2016

PATTERN OF FINANCE:

The Corporation is extending Financial Assistance to the schemes up to Rs. 2,50,000/- in general and for transportation Schemes Rs. 3,00,000/- in particular subject to maximum subsidy component of Rs. 1,00,000/-.

1. Corporation subsidy : 50% of Unit Cost (Max upto Rs. 1,00,000/-)
2. Bank Loan : 40% of Unit Cost (Max upto Rs. 1,50,000/-)
3. Beneficiary Contribution : 10% of Unit Cost (Max upto Rs. 30,000/-)

i) Subsidy from Corporation 50% of the unit cost limited to Rs. 50,000/-
Beneficiary contribution 10% and the remaining is Bank loan.
ii) In respect of Transportation/ Small and Micro enterprises (SSI Registered Units).
Subsidy from Corporation 50% of the unit cost limited to Rs. 1,00,000/-.
Beneficiary contribution 10% and the remaining is Bank loan.

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