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GOVERNMENT SPONSORED SCHEMES
Canara Bank is the front-runner
in implementing various Government Sponsored Schemes aimed to uplift poor,
educated un-employed / under-employed people in rural / semi-urban / urban
areas by providing financial assistance to set up self-employment ventures with
the help of various government authorities / agencies.
The following are
the prominent schemes:
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Swarna Jayanthi Shari Rozgar Yojana
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Swarnajayanthi Gram Swarozgar Yojana
A. Swarna Jayanthi
Shahari Rozgar Yojana (SJSRY)
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Purpose
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Assistance to individuals under
Urban Self Employment Programme (USEP) for setting up of gainful
self-employment ventures & Development of Women & Children in Urban
Areas (DWCUA).
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Eligibility
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BPL Applicants residing in
urban/semi-urban towns for at least 3 years. Any bankable project/activity
involving a project cost of upto Rs 50000 for individuals. For DWCUA no
ceiling on project cost.
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Margin
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5% of the project cost
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Quantum of Loan
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95% of project cost
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Security
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Hypothecation/Mortgage/Pledge
of assets created out of loan
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Activities
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Any bankable activity / project
which can be undertaken at towns.
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Project Cost
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Rs.50,000/- under USEP. In
respect of DWCUA, no ceiling on project cost.
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Subsidy
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Individuals - 15% of the
Project cost (Max-Rs. 7500)DWCUA group - 50% of the Project cost
(Max-Rs.1.25lakh)
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Repayment
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Within 3 to 7 years
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Sponsoring Authority
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Urban Local Bodies
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Conditions Apply:
The information provided above
are only illustrative and not exhaustive.
For more details, please contact
your nearest Canara Bank Branch or mail to pcwing@canbank.co.in
B. Swarnajayanthi Gram Swarozgar Yojana (SGSY)
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Purpose
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For setting up self employment ventures in rural areas
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Eligibility
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All families in rural areas who
find a place in the list of below poverty line identified through BPL census
duly approved by Gram Sabha are eligible for assistance under the
scheme.
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Margin
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Loans upto Rs.50,000/- for
individuals & Loans upto Rs. 6.25 lakh for Groups - No margin Loans above
Rs.50,000/- for individuals - 20% of the project cost minus the actual
subsidy available Loans above Rs. 6.25 lakhs for Groups - 25% of project cost
minus actual subsidy
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Security
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Loans upto Rs. 50000 for
individuals & loans upto Rs. 5 lakh for Groups - Hypothecation of assets
created out of loan / mortgage of landed property / third party guarantee
Above Rs.50,000/- in case of
individuals and Rs.5 lakhs in case of SHGs - Hypothecation of assets created
out of loan & mortgage of landed property/guarantee of third party.
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Activities
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Key activities identified by
Gram Sabha including farm sector
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Project Cost:
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Unit cost as fixed by District
SGSY Committee
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Subsidy
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30% of the project cost with a
ceiling of Rs.7500/-. For SC/ST 50% of the project cost with a ceiling of
Rs.10000. For groups, 50% of the project cost subject to ceiling of Rs.1.25
lakhs.
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Repayment
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Within 5 to 9 Years
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Sponsoring Authority
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Block Development Officer
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Conditions Apply:
The information
provided above are only illustrative and not exhaustive.
For more details, please contact your nearest Canara Bank Branch or mail to pcwing@canbank.co.in
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