Rajiv Gandhi Swavlamban Rojgar Yojna (RGSRY):
Rajiv Gandhi Swavlamban Rozgar Yojna has been designed, developed and promoted by the Delhi Khadi & Village Industries Board, with the help of Government of NCT of Delhi, to provide the employment opportunities to the unemployed youths, artisans, trained professionals, skilled technocrats and entrepreneurs by promotion/expansion of permissible industries, professions, tertiary and service sector in the UT of Delhi.
Eligibility:
Any one of the following can avail loan under the scheme:-
(1) School/College drop outs above the age of 18 years.
(2) Individual entrepreneur.
(3) Artisan
(4) Trade Professionals
(5) Passed out candidates from any technical/professional institute recognized by the Government or its authorized undertakings, without further training
(6) .Small-Scale Industrial units which have total investment of plant, machinery and equipment not exceeding the ceiling prescribed for small scale units by the Central Government from time to time and must be located within the National Capital Territory of Delhi, shall also become eligible for financial aid of loan.
Age Limit for applyingRajiv Gandhi Swavlamban Rojgar Yojna (RGSRY) Scheme is 18 years to 50 years
Utilisation of Loan:-
a)The borrower shall utilize the loan for the specific purpose for which it is advanced within three months. However, Managing Director of the DKVI Board will be competent to grant maximum three months grace for the utlisation of amount released by the DKVI Board. After six months, no further concession will be allowed and in case of non-utilisation of funds within the maximum permissible period, loan amount will be treated as mis-utilized and DKVI Board will be liable to make recovery of entire amount along with 18% interest or as prescribed from time to time by Delhi Government.
b) If the borrower utilizes the financial assistance received from the Delhi Khadi & Village Industries Board in violation of the provisions of these loan rules or instructions of the Delhi Khadi & Village Industries Board, the amount of loan shall be treated as mis-utilised and shall invite interest at 18% along with principal amount may be recovered.
Financial aid as loan under these rules may be granted to the eligible projects pertains to any of the following groups/sector:-
a) Secondary Sector (Tiny/Cottage Industries)
b) Tertiary Sector (Trade, Transportation, Hostels, Restaurants without Liquor and Meat etc.)
c) Services Sector: (Under the ambit of various Terms & Conditions, provisions of local bodies and Delhi Master Plan.)
Quantum of Loan:-
i)The quantum of loan granted under this scheme, to proposed and functioning units shall not exceed Rs. 3,00,000 provided that concerned entrepreneur shall make at least 10% contribution of amount demanded as loan from the Delhi Khadi & Village Industries Board. In case of weaker sections i.e. SC/ST/OBC/Ph.H. /Women/Ex. Servicemen, only 5% contribution of entrepreneur is required.
ii)Loan shall not be sanctioned to such parties who have already been advanced any loan for the same or similar purpose by the Government or any Government controlled financial institutions and has not been repaid in full with interest or has been mis-utilized and/or misapplied.
Rate of interest:-
The loan granted under this scheme shall bear interest as prescribed by the Government of NCT of Delhi from time to time. The interest on loan will accrue from the date of its disbursement and where the loan is disbursed in instalments, interest shall run on each instalment from the date of disbursement of such instalment. No interest subsidy.
Subsidy from government:-
Government of Delhi would provide subsidy at 15 percent of the project cost subject to the ceiling of Rupees 7,500 per entrepreneur. In case of more than one entrepreneur joining together and setting up a project under partnership, subsidy would be calculated for each partner separately, at 15 percent of his share in the project cost, limited to Rupees 7,500 each partner. Subsidy component would be adjusted to the borrower’s loan account after a period of two years from the date of disbursement of loan. Subsidy component would be recovered from the borrower along with 18 percent penal interest in cases where the loan amount has been found not utilized for the purpose for which it was released.
Tenure of loans and Repayment conditions :-
a) Every loan with interest thereon shall be repaid in full within 5 years in equal quarterly instalments. The recovery of loan may be started after a gap of 12 months from the date of release of loan amount. However, interest on released amount will be recoverable form the first quarter, from the date of release of loan amount. To ensure timely recovery, borrower shall provide equal nos. of post dated cheques for quarterly installments of Principle amount including interest due as on date of instalment fixed by the Board.
b) The Borrower shall ensure for timely encasement of each and every cheque. In case of any default, Delhi Khadi & Village Industries Board will be entitled to take action against him / her and/or sureties as prescribed under the law.
For more details click here
Rajiv Gandhi Swavlamban Rozgar Yojna has been designed, developed and promoted by the Delhi Khadi & Village Industries Board, with the help of Government of NCT of Delhi, to provide the employment opportunities to the unemployed youths, artisans, trained professionals, skilled technocrats and entrepreneurs by promotion/expansion of permissible industries, professions, tertiary and service sector in the UT of Delhi.
Eligibility:Any one of the following can avail loan under the scheme:-
(1) School/College drop outs above the age of 18 years.
(2) Individual entrepreneur.
(3) Artisan
(4) Trade Professionals
(5) Passed out candidates from any technical/professional institute recognized by the Government or its authorized undertakings, without further training
(6) .Small-Scale Industrial units which have total investment of plant, machinery and equipment not exceeding the ceiling prescribed for small scale units by the Central Government from time to time and must be located within the National Capital Territory of Delhi, shall also become eligible for financial aid of loan.
Age Limit for applyingRajiv Gandhi Swavlamban Rojgar Yojna (RGSRY) Scheme is 18 years to 50 years
Utilisation of Loan:-
a)The borrower shall utilize the loan for the specific purpose for which it is advanced within three months. However, Managing Director of the DKVI Board will be competent to grant maximum three months grace for the utlisation of amount released by the DKVI Board. After six months, no further concession will be allowed and in case of non-utilisation of funds within the maximum permissible period, loan amount will be treated as mis-utilized and DKVI Board will be liable to make recovery of entire amount along with 18% interest or as prescribed from time to time by Delhi Government.
b) If the borrower utilizes the financial assistance received from the Delhi Khadi & Village Industries Board in violation of the provisions of these loan rules or instructions of the Delhi Khadi & Village Industries Board, the amount of loan shall be treated as mis-utilised and shall invite interest at 18% along with principal amount may be recovered.
Financial aid as loan under these rules may be granted to the eligible projects pertains to any of the following groups/sector:-
a) Secondary Sector (Tiny/Cottage Industries)
b) Tertiary Sector (Trade, Transportation, Hostels, Restaurants without Liquor and Meat etc.)
c) Services Sector: (Under the ambit of various Terms & Conditions, provisions of local bodies and Delhi Master Plan.)
Quantum of Loan:-
i)The quantum of loan granted under this scheme, to proposed and functioning units shall not exceed Rs. 3,00,000 provided that concerned entrepreneur shall make at least 10% contribution of amount demanded as loan from the Delhi Khadi & Village Industries Board. In case of weaker sections i.e. SC/ST/OBC/Ph.H. /Women/Ex. Servicemen, only 5% contribution of entrepreneur is required.
ii)Loan shall not be sanctioned to such parties who have already been advanced any loan for the same or similar purpose by the Government or any Government controlled financial institutions and has not been repaid in full with interest or has been mis-utilized and/or misapplied.
Rate of interest:-
The loan granted under this scheme shall bear interest as prescribed by the Government of NCT of Delhi from time to time. The interest on loan will accrue from the date of its disbursement and where the loan is disbursed in instalments, interest shall run on each instalment from the date of disbursement of such instalment. No interest subsidy.
Subsidy from government:-
Government of Delhi would provide subsidy at 15 percent of the project cost subject to the ceiling of Rupees 7,500 per entrepreneur. In case of more than one entrepreneur joining together and setting up a project under partnership, subsidy would be calculated for each partner separately, at 15 percent of his share in the project cost, limited to Rupees 7,500 each partner. Subsidy component would be adjusted to the borrower’s loan account after a period of two years from the date of disbursement of loan. Subsidy component would be recovered from the borrower along with 18 percent penal interest in cases where the loan amount has been found not utilized for the purpose for which it was released.
Tenure of loans and Repayment conditions :-
a) Every loan with interest thereon shall be repaid in full within 5 years in equal quarterly instalments. The recovery of loan may be started after a gap of 12 months from the date of release of loan amount. However, interest on released amount will be recoverable form the first quarter, from the date of release of loan amount. To ensure timely recovery, borrower shall provide equal nos. of post dated cheques for quarterly installments of Principle amount including interest due as on date of instalment fixed by the Board.
b) The Borrower shall ensure for timely encasement of each and every cheque. In case of any default, Delhi Khadi & Village Industries Board will be entitled to take action against him / her and/or sureties as prescribed under the law.
For more details click here