kmdc.karnataka.gov.in : Swavalambana Margin Money Loan Scheme

Organization : Karnataka Minorities Development Corporation Limited KMDC
Service Name : Swavalambana Margin Money Loan Scheme
Applicable State: Karnataka
Website : https://kmdc.karnataka.gov.in/page/2021-22+Schemes/en

Swavalambana Margin Money Loan Scheme:

Under this scheme, persons belonging to religious Minority communities, in association with and through Banks/financial institution, are financially assisted to start and improve Business, Small Scale Cottage Industries, Service sector, Agriculture based activities etc., Loan is provided through various Nationalized Banks/Financial Institutions / co-operative societies for the maximum project cost up to Rs.5,00,000/.

Related : SAST Vajpayee Arogyashree Scheme VAS Karnataka : www.statusin.in/19586.html

20% of the project cost will be sanctioned by the Corporation as Margin Money loan @ 6% interest p.a and 5% of unit cost or maximum of Rs.25,000/- as subsidy Balance is provided as loan by the Banks/Financial institutions / co-operative societies. The Margin Money so sanctioned by the Corporation has to be repaid by the beneficiary in 36/60 monthly installment @ 6% interest per annum to the Corporation.

This scheme is implemented through Co-Operative Societies also who have registered under Co-Operative Societies Act 1959, and who are working for the upliftment of the minorities and are showing profit and have adequate financial support to grant loan to its members.

The Societies who desire to avail this facility should present the following documents:
** Registration Certificate of the Society.
** Bye Laws of the Society.
** Details of provisions made to get money from the State Govt.
** Audited Report for the last 3 years.
** Report of the Dy. registrar of Co-Operative Societies with no adverse remarks.
** Contract deed, Guarantee letter.

II. The Government of Karnataka vide G.O.No.MWD/60/MDC/2016 dt.27.10.2016 has modified ‘Swavalambana’ Margin Money Loan and Subsidy Scheme into Self-employment Scheme.

Under the modified Scheme, Subsidy will be sanctioned to the applicants belonging to religious minority communities to start or improve business, small scale cottage industries, service sector, agriculture based activities, with the co-ordination of Nationalised Banks.

The details of benefits are as under :
(1) Subsidy of 50% or a maximum of Rs.35,000/- will be sanctioned to undertake economic activities covering the unit cost of Rs.1.00 Lakh.
(2) Subsidy of 33% or a maximum of Rs.2.00 Lakhs will be sanctioned to undertake economic activities covering the unit cost of Rs.1.00 Lakh and above.

About Us :
The Minority population as per 2011 census is about 96,00,475 which forms 15.92% of the total population of Karnataka. The people belonging to Muslim, Christian, Sikh, Jain and Parsis Buddists communities comes under Minority Community.

Karnataka Minorities Development Corporation was established in the year 1986 with an objective of improving the status of Minority Community Socially Economically and Educationally. The Corporation has been implementing the following schemes by utilising the share capital and grants released by the State Government, from time to time.

Contact Us :
Karnataka Minorities Development Corporation Ltd
‘Vishveswarayya Centre’, 12th Floor, Main Tower,
Dr. B. R. Ambedkar Veedi,
Bangalore – 560 001.