Micro Credit Finance

About This Scheme

The "Micro Credit Finance" scheme, implemented by the Department of Social Justice & Special Assistance of the Government of Maharashtra and funded by the National Scheduled Castes Finance and Development Corporation (NSFDC), aims to uplift the lifestyle of economically disadvantaged Charmakars (Dhor, Chambhar, Holar, Mochi, etc.) who are below the poverty line. This initiative focuses on developing their educational, economic, and social standing, enabling them to secure a respectable place in society while promoting the production of various footwear and leather articles for government supply and open market sales.

Eligibility

1. The applicant should belong to the Charmakar Community. 1. The applicant should be between 18 to 50 years of age. 1. The applicant should be a permanent resident of Maharashtra. 1. The applicant should belong to a Below Poverty Line (BPL) category. 1. The applicant should be able to provide an Income and Caste Certificate from an authorized government officer. 1. The applicant must have knowledge of the business for which they are applying for the loan. 1. For the 50% Subsidy Scheme and Margin Money, the annual income must be below the poverty line. 1. For the NSFDC Scheme, the annual income should be ₹98,000 for rural areas and ₹1,20,000 for urban areas.

Benefits

- Financial support ranging from ₹25,000 to ₹50,000 to invest in income-generating activities. - A low interest rate of 5% per annum, making it easier to repay the loan. - ₹10,000 provided as a subsidy to reduce the financial burden.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.