This is a credit linked subsidy scheme for setting up of coir units with project cost upto Rs.10 lakhs plus one cycle of working capital, which shall not exceed 25% of the project cost. Working capital will not be considered for subsidy.
The scheme main objective is to facilitate sustainable development of the Coir Industry in the country and is under the ambit of Minsitry of MSME.
Scheme Benefits & Highlights
- Maximum admissible cost of the project is 10 lakhs plus working capital, which shall not exceed 25% of the project cost. The banks shall consider composite loan instead of term loan to cater to the working capital requirements also. This should be exclusive of Rs.10 lakhs limit proposed. However, subsidy will be computed excluding working capital component.
- Beneficiary’s contribution 5% of the project cost
- Bank credit Rate- 55%
- Rate of Subsidy- 40% of the project
Individuals, Companies, Self Help Groups, Non Governmental Organizations, Institutions registered under Societies Registration Act 1860, Production Co-operative Societies, Joint Liability Groups and Charitable Trust. More details about the eligibility criteria can be found here.
Applicants are requested to read the following document before applying: http://coirservices.gov.in/Html_Files/OperationalGuidelines_CUY.pdf
The detailed steps to login and application form can be found at: http://coirservices.gov.in/Html_Files/CoirServices-How-to-Apply-consor.pdf
Registration Link: http://coirservices.gov.in/frm_login.aspx