Grant of Margin Money for Availing Capital Loan
This scheme offers margin money to entrepreneurs in Puducherry for establishing or revitalizing coir industries.
Key facts
| Benefit | 25% margin money, up to ₹25 lakh |
|---|---|
| Who | Entrepreneurs in Puducherry |
| How paid | Released to bank on loan sanction |
| Implemented by | Department of Industries and Commerce, Puducherry |
| Official portal | dic.py.gov.in |
| Application window | Open all year for eligible entrepreneurs in Puducherry. |
Benefits
Beneficiaries receive a one-time subsidy of 25% of project costs, up to ₹25,00,000, upon obtaining a loan sanction from a financial institution.
Who can apply
- For: entrepreneur
- Resident of Puducherry
- no government employee in family
- not income tax payer
Entrepreneurs residing in Puducherry can apply for this scheme. Key exclusions include individuals with government employment in their family and those who are income tax payers.
Who is not eligible
- Government employees in family
- Income tax payers
How to apply
Applications must be submitted in person at the District Industries Centre in Puducherry.
- Download the application form from the official website.
- Complete the application form, ensuring all mandatory fields are filled.
- Attach a passport-sized photograph and required documents, self-attested if necessary.
- Visit the District Industries Centre in Thattanchavady during office hours to submit the application.
- Obtain a unique application number as acknowledgment of submission.
Documents required
- Loan sanction letter from the financial institution.
- Undertaking letter from the promoter, assuring successful operation for five years post-establishment.
- Proof of unit establishment in the Union Territory of Puducherry.
Common problems and how to fix them
| Problem | What to do |
|---|---|
| Application not acknowledged | Ensure the application is submitted during working days and office hours at the District Industries Centre. |
| Loan not sanctioned | Verify that the project meets the ₹1 crore requirement for margin money eligibility. |
Frequently asked questions
What is the maximum margin money available under this scheme?
The scheme provides a maximum margin money of ₹25,00,000, which is 25% of the project cost.
Where must the coir unit be established to be eligible?
The coir unit must be established within the Union Territory of Puducherry.
What is the timeline for starting commercial production after receiving the grant?
Commercial production must commence within six months of receiving the Margin Money Grant.
What documents are required for the application?
Applicants need to submit a loan sanction letter, an undertaking letter, and proof of unit establishment in Puducherry.
Can individuals with government employees in their family apply?
No, individuals with government employees in their family are not eligible to apply for this scheme.
How can grievances related to the scheme be addressed?
Grievances can be addressed through the Grievance Redressal Mechanism available on the official website.
Always confirm the latest details on the official portal before applying.
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