SCHEMES UNDER TERM LOAN, SUBSIDY & PROMOTERS CONTRIBUTION:
Jharkhand State Tribal Cooperative Development Corporation Ltd. Implements income generating economic schemes for Scheduled Tribe/ Backward class/ Minority Community/ Physically Handicapped people of Jharkhand by securing loan on their behalf from National level Financing Institutions like –
- National Scheduled Tribe Finance & Development Corporation, New Delhi (www.nstfdc.nic.in)
- National Backward classes Finance & Development Corporation, New Delhi(www.nbcfdc.org.in)
- National Minorities Development & Finance Corporation, Delhi (www.nmdfc.org)
- National Handicapped Finance & Development Corporation, Faridabad (www.nhfdc.nic.in)
Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture which for the sake of convenience are classified into following sectors :
i) Agriculture & Allied Sector
ii) Technical Trade Sector
iii) Small Business Sector
iv) Artisan & Traditional Occupations Sector
v) Transport & Service Sector
Guideline and Procedure
Applications in prescribed format are invited from the eligible beneficiaries through advertisement in all leading newspapers in the state. The Committee constituted for the selection, scrutinizes the received applications and do necessary procedures of selection.
1) Eligibility Criteria and Selection of Beneficiaries:
- 1.1) Applicant must be resident of Jharkhand State.
- 1.2) He/ She must belong to either Scheduled Tribe/ Primitive Tribe Group/ Backward Class/ Minority Community/ Physically Handicapped for which the certificate issued by the Block Development Officer/ any competent authority is required.
- 1.3) The Annual family income of the applicant should have less than double the BPL line Rs. 40,000/- p.a. for rural and Rs. 55,000/- p.a. for urban area. It is verified on the basis of certificate issued by Circle officer/ Sub Divisional Officer/ any competent authority.
- 1.4) Applicant should not be in Govt./ Semi Govt. Service.
- 1.5) Age of applicant must be between 18 to 45 years and it is verified by its supporting document.
- 1.6) Applicant must belong to the district for which scheme has to be taken.
- 1.7) The applicant must have some basic implementation/ operational knowledge of the scheme for which benefit is sought.
- 1.8) Applicant must have capability to invest 10% of the unit cost of the project/scheme. The proof of Bank Account (any Nationalised Bank) is necessary for taking loan.
- 1.9) He/She should not availed any Govt. Loan or must not be defaulter to any Bank.
- 1.10) Eligible women especially widows or destitute women will be given preference during the selection of the beneficiary.
2) Selection of Schemes:
Applicant should keep following point in mind while selecting schemes of National Finance and Development Corporation.
2.1) The Scheme must be appropriate for the proposed place economically, financially and technically.
2.2) Raw materials required for the implementation of the scheme must be available in
2.3) The availability of market for selling products and must have good possibility of well performance of the scheme.
2.4) The place where scheme has to be implemented, the local suitability must be considered.
2.5) The applicant must have general knowledge about scheme. Technical knowledge is essential for the proposed schemes.
3) Application, Selection & Implementation Procedures:
3.1) Applicant can submit their application in prescribed format either to District Welfare Office/ Branch office/ Head office. As per advertisement with all requisite information and proforma for application is published in all leading newspapers of the State.
3.2) For the implementation of the scheme, the last date for submission of duly filled application forms is also published. The last date declared is same for all the districts.
3.3) Applicants have to submit attested copies of following document/testimonials along with their duly filled applications:
i) Caste certificate (Issued by Block Development Officer or any competent authority)
ii) Income certificate (Issued by Circle Officer or any competent authority)
iii) Residential certificate (Issued by Circle Officer or any competent authority)
iv) Age certificate (Proof of Age)
v) Technical qualification certificate, required in case of support seeking for technical traits (Issued by relevant institutes)
vi) Two passport size photograph of the applicant.
3.4) Branch officer maintain their registers in accordance with the application received separately.
3.5) Selection list in the prescribed format is made available to the Head office.
3.6) The corporation Head Office demands for Term Loan from respective National level Finance and Development Corporation on the basis of details received from Branch Offices.
3.7) After receiving approval of schemes and Term loan from National level Finance and Development Corporation, respective beneficiaries are informed to complete further procedure. The Corporation undertakes following procedures:
a) The Corporation send three copies of prescribed sanction letter filling details like Name and Address of the beneficiary, beneficiary contribution, margin money loan, Term loan, rate of interest calculated on the basis of below poverty line (BPL) and double income of defined BPL range and accordingly monthly instalments (recovery amounts), various components of sanctioned schemes.
b) The beneficiary has to keep a copy of the same with himself and return remaining two copies of the same after putting his/her signature in each page of the sanctioned letter.
c) Consent of beneficiary is followed by submission of guarantee letter duly signed and obtained from two guarantors (either Govt./ semi Govt./ Bank employee). The details of confirmation of employment as well as its tenure of service upto the loan period is obtained from the competent authority of the office in which the guarantor is employed.
d) The assets made available under the scheme is hypothecated and pledged to the Corporation. The branch offices of corporation take all the procedures concerning hypothecation in the prescribed format and putting special adhesive stamp in accordance with the value of the asset.
3.8) The Head office then releases the amount accordingly to its Branch offices for the beneficiaries.
3.9) Each beneficiary deposits 10% of project value as beneficiary contribution in his saving Bank A/c and make available its proof to Branch office.
3.10) After completion of all procedures properly and satisfactorily, the loan amount released to the beneficiary.
4) Loan Recovery, Accounts keeping & Office Records:
Branch offices of Corporation:
4.1) Branch offices maintain all relevant papers/documents of each benefited loanee separately as office records.
4.2) The recovery period is defined maximum upto 60 monthly instalments depending upon the beneficiary/scheme.
4.3) The recovery period starts two months after the sanction/disbursal of the loan.
4.4) The Branch office maintains separate loan A/c of each beneficiary loanee.
4.5) The majority portion of loan is supported by National Finance and Development Corporation, New Delhi, hence timely recovery of loan within stipulated time is mandatory.
4.6) The field verification is carried out by the officials of corporation when the time allotted to the beneficiary for purchase of assets comes to an end (completes). The monitoring and evaluation of the scheme is done by both central as well as State Govt. time-to-time.
4.7) National Finance and Development Corporation makes next release only after receipt of utilization certificate of its previous release. Hence, Branch offices too get their next release only after submission of utilization certificate of at least 80% of previous release.