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EDUCATION LOAN AND OTHER PRIORITY SECTOR LOANS
A. Loans for Students
| Purpose: |
Payment of course fees.Purchase of books, equipments, instruments, uniform, payment of hostel fees, examination fees, study tours, passage expenses (for studies abroad) |
| Eligible Courses : |
Studies in India:
Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc.
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| Studies abroad: |
Job oriented, technical / professional courses- (graduation / post graduation |
| Quantum of Finance: |
Need based finance
For studies in India : Max. Rs.10.00 lacs
For studies abroad : Max. Rs.20.00 lacs |
| Margin |
Upto to Rs.4.00 lacs – Nil
Above Rs.4.00 lacs – for studies in India – 5%
studies abroad : 15% |
| Security: |
Loan is given jointly to the student and parent /guardian
Assignment of future income of the student
Upto Rs.4.00 lacs- No security
Above Rs.4.00 lacs upto Rs. 7.50 lacs –Satisfactory third party guarantee
Above Rs. 7.50 lakhs: Collateral security equal to 100% of the loan amount.
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| Repayment |
Commences one year after completion of the course or six months after getting employment, whichever is earlier.
Loan with interest is repayable in equated monthly instalments within 5 to 7 years.
Credit Delivery
Loan can be availed from the branch nearest to the place of permanent residence of the parent / guardian.
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 B. Laghu Udyami Credit Card Scheme(LUCC)
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Objective
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LUCC Scheme is devised to provide hassle free
financial support to small business units, retail traders, artisans,
village industries, SSIs and tiny units, P & SE and small
entrepreneurs.
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Purpose
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To meet Working capital requirement of small business
units, retail traders, artisans, village industries, SSIs.
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Eligibility
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All existing small borrowers of above mentioned
categories enjoying aggregate loan / limit of upto Rs 10 lakhs are eligible
Borrowers should have satisfactory dealings with the bank for atleast for
the last 3 years.borrowers with continuous satisfactory past dealings for a
minimum period of 3 years but not having any liability right now can also
be issued the card.
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Loan Quantum
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Maximum upto Rs.10.00 lakhs per borrower (aggregate)
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C. Loan for Retail Traders
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Purpose
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For meeting the working capital/term-loan requirements.
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Eligibility
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Retail Traders dealing in essential commodities (fair
price shops), consumer co-op stores and private retail traders with credit
limit not exceeding Rs. 20 lacs.
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D. Loan for Solar Water
Heating Systems
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Purpose
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To purchase brand new solar water heater systems with
necessary accessories
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Eligibility
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Individuals, Institutions, Associations, Small Business
establishments, Industrial establishments, Hospitals, Hotels, Hatcheries,
SMEs etc..
Salaried individuals should have minimum monthly net
take home salary of 25% of their gross salary OR Rs. 2000/- (after meeting
the loan instalment) whichever is more. Professionals and other non-salaried
class should have a minimum net yearly income of Rs. 50000/-.
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E. Direct Financing to Self Help Groups
| Purpose |
-To build mutual trust and confidence between the bankers and rural poor through formation of Self Help Groups
- To encourage banking activity both in thrift and credit operations.
- Credit Assistance to the Group on the extent of Savings mobilised, which varies from 1:1 to 1:4.
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F. Finance
to NGOs/mFIs for on-lending to SHGs
Type of eligible intermediaries:
a) Societies registered under Societies
Act, 1860 or similar State Acts.
b) Trusts registered under Public Trusts
Act, 1882 or similar acts.
c) Not for profit companies registered U/S
25 of Companies Act, 1956.
G. Prime Minister's Rozgar Yojana (PMRY)
| Eligibility |
The educated unemployed youth within the age group of 18 to 35 years, 45 years in respect of Women/SC/ST/Ex-servicemen/ physically handicapped, 40 years for general category in respect of North Eastern States, Uttarakhand, Jammu & Kashmir and Himachal Pradesh. Annual family income should be less than Rs. 1 lakh. |
| Activities |
To set up micro enterprises relating to service, business and manufacturing & all economically viable activities including agriculture and allied activities but excluding direct agricultural operations. |
| Project Cost |
For Business / Service activity - Max. Rs. 2 lakh
For Manufacturing/ Industry sector activities - Max Rs 5 lakhs
For Partnerships - Max. Rs. 10 lakh
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Sponsoring
Authority |
District Industries Centre. |
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