Jute Raw Material Bank Scheme
The Jute Raw Material Bank Scheme supports jute manufacturers and traders with financial assistance for sourcing raw materials.
Key facts
| Benefit | 30% support on sales value, max ₹12 lakh/year |
|---|---|
| Who | Entrepreneurs, manufacturers, traders, NGOs, cooperatives, federations, PSUs |
| How paid | 100% after one quarter upon submission of required documents |
| Official portal | textilescommittee.nic.in |
| Application window | Open all year for eligible agencies and individuals. |
Benefits
Beneficiaries receive a subsidy of 30% on the sales value of jute raw materials, capped at ₹12 lakh annually. Additional incentives may apply for operations in hilly regions.
Who can apply
- For: entrepreneur, manufacturer, trader, NGO, cooperative, federation, PSU
- not income tax payer
- no government employee in family
Eligible applicants include entrepreneurs, manufacturers, traders, NGOs, cooperatives, federations, and public sector units. Key exclusions are income tax payers and families with government employees.
How to apply
Applications must be submitted in hard copy with required documents to the relevant authorities.
- Prepare ownership documents such as MoU, Trade License, or Registration of Societies.
- Gather Aadhaar Card or address proof of the authorized representative.
- Compile Income Tax Return and PAN details for the last financial year.
- Collect PAN and GST returns for the past three financial years.
- Prepare annual reports and audited financial statements for the last three years.
- Include any additional documents establishing agency credentials and recommendations from relevant authorities.
- Submit the complete proposal in a sealed cover to the designated office.
Documents required
- Ownership document (MoU/AoA of Companies/ Registered Deed of Partnership/ Registration of Societies, Trade License, etc.)
- Aadhaar Card / Address Proof of the authorized representative
- Income Tax Return for last financial year, along with PAN number
- Details of PAN and GST returns for the last 3 financial years
- Annual Reports for the last three financial years
- Audited financial statements for the last three years
- Any other documents establishing the credentials of the agency
- Other supporting documents (Experience certificates etc.)
- Recommendations from Dist. Magistrate/ Dist. Collector/ DIC/ NABARD / DRDA/ BDO
Common problems and how to fix them
| Problem | What to do |
|---|---|
| Application rejected | Ensure all required documents are submitted in hard copy and properly signed. |
| Payment not received | Verify that all necessary invoices and audited accounts have been submitted as per guidelines. |
Frequently asked questions
Who can apply for the Jute Raw Material Bank Scheme?
The scheme is open to registered jute entrepreneurs, manufacturers, traders, NGOs, cooperatives, federations, and public sector units with relevant experience.
What documents are required for the application?
Applicants must provide ownership documents, Aadhaar proof, income tax returns, GST returns, annual reports, audited financial statements, and recommendations from authorities.
Is there a limit on the financial support provided?
Yes, the maximum financial support is capped at ₹12 lakh per annum, with a 30% subsidy on the sales value of jute raw materials.
Are there any exclusions for eligibility?
Yes, individuals who are income tax payers or have government employees in their family are not eligible to apply.
What is the application process for this scheme?
Applications must be submitted in hard copy, including all required documents, to the relevant authorities in a sealed cover.
How is the subsidy disbursed to beneficiaries?
The financial support is paid after one quarter upon submission of audited accounts, original bills, GST returns, and proof of procurement and sales.
Always confirm the latest details on the official portal before applying.
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