edc-goa.com Dr.Verghese Kurien Rojgar Yojana VKRY : Economic Development Corporation Ltd

Organization : Economic Development Corporation Ltd Goa
Facility : Dr.Verghese Kurien Rojgar Yojana VKRY

Home Page :http://www.edc-goa.com/edc/products_edc.php
VKRY Download here :https://www.statusin.in/uploads/2901-VKRY.pdf

Dr. Verghese Kurien Rojgar Yojana :

Eligibility :
Age :
For all educated unemployed 18 to 42 years in general; relaxable by 5 years in case of widow, disabled person, scheduled caste, scheduled tribe, other Backward class person. (Additional relaxation of 10 years for general as well as reserved categories could be considered by the VKRY Task Force Committee (TFC), to be approved by the Chairman EDC/Chairman TFC, depending upon genuineness of the case/project).

Related : Development Corporation Interest Free Education Loan Scheme Goa : www.statusin.in/2904.html

However, such relaxations during the year shall not exceed 10% of the total sanctioned cases during the previous financial year. Regular ex-Government employees including those who have opted for VRS shall not be eligible for such relaxations.

Educational qualification :
VIIIth passed; relaxable in deserving cases. Preference will be given to those who have technical/professional qualifications. These will include candidates trained by GHRSSIDC, Agriculture Department, Forest Department or under any other Government Training Scheme.

Family income :
The income of the beneficiary along with spouse and dependents, and children of minor age shall not exceed Rs. 3,00,000/- p.a.

Residence proof :
Permanent resident of the area for at least 15 years. Documents required – Residential Certificate or School Leaving Certificate or passing Certificate from Goa Board/Goa University or any document to the satisfaction of the sanctioning authority.

Defaulter/ Non Eligibility :
Should not be a defaulter to any nationalized bank/financial institution/co-operative bank. Further, a person already assisted under other subsidy linked scheme will not be eligible under this scheme, unless otherwise relaxed / specified.

Activities covered :
All economically viable/legal activities except dealing in alcohol & tobacco

Loan Assistance :
a) Project cost :
Maximum Rs. 20.00 lakh, including 50% share capital under *DITC scheme (80% in case of SC/ST applicant) for an individual with professional degree/diploma/I.T.I., including those undergoing special training programmes conducted by authorised Government Departments/ Corporations.
Maximum Rs. 15.00 lakh, including 50% (80 % in case of SC/ST applicant) share capital under *DITC scheme, for others.

b) Means of Finance :
** 10% minimum promoter’s contribution; (5% in case of woman/disabled/ SC/ST/OBC applicant).
** 50% interest free share capital under *DITC Scheme, restricted to maximum Rs. 10.00 lakh *(Rs. 16.00 lakh in case of SC/ST applicant) for professionals and technically qualified persons and maximum Rs. 8.00 lakh *(Rs. 12.00 lakh in case of SC/ST applicant), for others.

c) Interest rate :
Penal Interest 8% p.a., for male and 6% p.a., for beneficiary.
Penal interest AT 2% p.a., on the defaulted amount of more than one EMI, for the defaulted period of EDC Term Loan shall be charged.
Penal interest AT 8% p.a. on the defaulted amount of more than one EMI, for the defaulted period, of the *Share Capital of DITC shall be charged.

d) Margin for loan :
10% minimum (5% minimum for woman/disabled/SC/ST/OBC person).

e) Moratorium period :
Maximum one year. (Moratorium period at the discretion of the Task Force Committee).