Dr. Bhimrao Ambedkar Aarthik Kalyan Yojana

Description
The Dr. Bhimrao Ambedkar Aarthik Kalyan Yojana, under the Tribal Welfare and Scheduled Caste SC Department of Madhya Pradesh, provides a 7% annual interest subsidy on loans for Scheduled Caste beneficiaries for up to 5 years to support new self-employment ventures. The project limit ranges from ₹10,000 to ₹1 lakh for all types of self-employment, with specific eligibility and financial assistance provisions for SC applicants. Beneficiaries can avail of a 12-day online entrepreneurship development training under the scheme. The scheme covers projects in the industry manufacturing , service, and business sectors eligible for bank loan guarantees under CGTMSE, through Public Sector, Private Sector, or Regional Rural Banks registered as Member Lending Institutions MLIs with CGTMSE.

Benefits
• 7% interest subsidy on loans for up to 5 years.

Eligibility Criteria
1. The applicant should be between 18 and 55 years of age.
2. The applicant should not be an income tax payer.
3. The applicant should not be a defaulter of any bank or financial institution, such as MFI, NBFC, SFB, or PACS.
4. The applicant should not currently be a beneficiary of any other self-employment scheme from the state or central government.
5. The applicant's family income should meet the following definition:
6. - If unmarried: Includes the applicant and dependent parents.
7. - If married: Includes the applicant, spouse, and dependent children (no age limit for dependent, unmarried children).

Application Process
Step 1: Step 1: The interested applicant should visit (during office hours) the Scheduled Caste Welfare Department, and request the hard copy of the prescribed format of the application form from the concerned authority.
Offline
Step 1: The interested applicant should visit (during office hours) the Scheduled Caste Welfare Department, and request the hard copy of the prescribed format of the application form from the concerned authority.

Step 2: Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Offline
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).

Step 3: Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the authority.
Offline
Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the authority.

Step 4: Step 4: Request a receipt or acknowledgement from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (i…
Offline
NOTE: Ensure that the application is submitted within the prescribed period, if any.

Required Documents
• Aadhaar Card
• Passport-size Photograph
• Proof of Residence
• Ration Card (optional)
• Bank Account Details (e.g., Copy of Bank Passbook)
• Caste Certificate (if applicable)
• Age Certificate
• Registrar of Birth Certificate
• Signature
• Any other documents as required

Frequently Asked Questions
Q: Who is eligible for the scheme?
A: Applicants aged 18-55 years from the Scheduled Caste category who meet the income and other criteria.

Q: What is the income limit for eligibility?
A: The applicant should not be an income tax payer.

Q: Can married individuals apply for the scheme?
A: Yes, provided their family income includes the applicant, spouse, and dependent children.

Q: What types of projects are covered?
A: Projects in manufacturing, service, and business sectors eligible for CGTMSE loan guarantees.

Q: What is the maximum project funding limit?
A: The funding ranges from [?]10,000 to [?]1 lakh.

Q: What is the interest subsidy offered?
A: A 7% annual interest subsidy for up to 5 years, including the moratorium period.

Q: Can beneficiaries of other government schemes apply?
A: No, applicants currently benefiting from other self-employment schemes are not eligible.

Q: What banks are eligible for loans under this scheme?
A: Loans can be availed through Public, Private Sector, or Regional Rural Banks registered with CGTMSE.

Q: Do applicants need to provide collateral for loans?
A: No, loans under CGTMSE are eligible for a credit guarantee.

Q: Is training provided under the scheme?
A: Yes, a 12-day online entrepreneurship development training is available for beneficiaries.