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Home >> Priority & SME Banking >> Priority Credit Section >> Govt Sponsored Schemes
 
Govt Sponsored Schemes
 

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:

x        Swarna Jayanthi Shari Rozgar Yojana

x        Swarnajayanthi Gram Swarozgar Yojana

A. Swarna Jayanthi Shahari Rozgar Yojana (SJSRY)

Purpose

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). 

Eligibility

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. 

Margin

5% of the project cost 

Quantum of Loan  

95% of project cost 

Security

Hypothecation/Mortgage/Pledge of assets created out of loan 

Activities

Any bankable activity / project which can be undertaken at towns.

Project Cost

Rs.50,000/- under USEP. In respect of DWCUA, no ceiling on project cost. 

Subsidy

Individuals - 15% of the Project cost (Max-Rs. 7500)DWCUA group - 50% of the Project cost (Max-Rs.1.25lakh) 

Repayment

Within 3 to 7 years 

Sponsoring Authority

Urban Local Bodies 

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@canarabank.com

B. Swarnajayanthi Gram Swarozgar Yojana (SGSY)

Purpose

For setting up self employment ventures in rural areas 

Eligibility

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. 

Margin

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 

Security

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. 

Activities

Key activities identified by Gram Sabha including farm sector

Project Cost:

Unit cost as fixed by District SGSY Committee

Subsidy

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. 

Repayment

Within 5 to 9 Years 

Sponsoring Authority

Block Development Officer 

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@canarabank.com