ADCL Micro Credit Prerana Scheme Karnataka

Organisation : Karnataka Dr. B.R. Ambedkar Development Corporation Limited (ADCL)
Scheme Name : Micro Credit Prerana Scheme
Applicable For : Scheduled Caste/Scheduled Tribe Women
Applicable State/UT : Karnataka
Website : https://adcl.karnataka.gov.in/25/micro-credit-scheme/en

What is ADCL Micro Credit Prerana Scheme?

In order to encourage women from the Schedule caste community and economically empower them DR. BR Ambedkar Development Corporation has launched the Prerana scheme. Financial aid will be provided to a self-help group of ten women. A joint account will be opened and a financial assistance of Rs. 2.50 Lakhs to income generating activities will be provided. The corporation will pay each individual a sum of Rs. 25,000/- of which Rs. 15.000 will be a subsidy and Rs. 10.000 will be in the form of a loan.

Related / Similar Scheme : KILT Charmashilpa Scheme Karnataka

Objective of ADCL Micro Credit Prerana Scheme

The objective of this program is to encourage women from urban and rural areas to set up self-help groups and help them to set up a productive business and turn them profitably. Financial assistance will be extended to the Scheduled Tribe women members of the Self-help groups to engage them in income-generating activities

Benefits of ADCL Micro Credit Prerana Scheme

** Beneficiary: Scheduled Caste/Scheduled Tribe Women
** Encourage women from the Schedule caste community and economically empower them.
** To support taking up of economic activities
** Financial assistance of Rs.25000/- which includes Rs.15000/-subsidy and Rs.10000/- loan at 4% interest rate per annum.

Eligibility of ADCL Micro Credit Prerana Scheme

** Self Help Group (SHG).
** The applicant should belong to the Scheduled caste/Scheduled Tribe community.
** The applicant should be a resident of Karnataka.
** The applicant should be above 21 years of age.
** The family’s annual income should not exceed Rs. 1,50,000 for rural and Rs. 2,00,000 for Urban applicant.
** Applicant will be considered ineligible if they/their family member has earlier availed a subsidy from the Corporation/Government of Karnataka.
** The applicant should be a member or should avail membership of such self- help group.
** The self-help group seeking self-employment opportunity should possess a stall/unit with minimum of 200 sft (rent/lease/own).
** An agreement stating that the applicants will be a part of the self-help group, detailed description about their business activity and sharing of income generated should be submitted to the corporation. The grant and the loan component provided should be used as the primary source of finance.
** The selected candidate if at any stage is found ineligible such sanction from the corporation stands cancelled.

Exclusions:
** The selection of applicants/association will be done by the committee
** The group which is sanctioned under the scheme shall strive to achieve the purpose for which it is established with cooperation of all the members of the group.

Documents Required For ADCL Micro Credit Prerana Scheme

** Passport size photo with application
** Certificate belonging to Scheduled Caste/Scheduled Tribe
** Annual family income Certificate
** Family ration card
** Voter ID card
** Aadhar card
** Family Tree
** Landless Land Workers Certificate (Land Ownership Plan)

FAQ On ADCL Micro Credit Prerana Scheme

Frequently Asked Questions FAQ On ADCL Micro Credit Prerana Scheme

What is the interest rate on the loan?
The loan together with interest @4% per annum has to be repaid by the SHG to the corporation in 36 monthly or 12 quarterly installments.

Who should apply?
Only residents of Karnataka State.

What amount is fixed by the government for SHG?
A joint account will be opened and a financial assistance of Rs. 2.50 Lakhs to income generating activities will be provided.