Grant of Margin Money for Availing Capital Loan" Component of the "Development of Coir" Scheme

Description
The "Grant of Margin Money for Availing Capital Loan" Component of the "Development of Coir" Scheme by the Department of Industries and Commerce, Union Territory of Puducherry, aims to incentivize entrepreneurs to establish new coir industries or revitalise existing ones. Eligible units must be set up in the Union Territory of Puducherry. The scheme provides margin money upon receipt of a financial institution's sanction order for a project.

Benefits
• 25% margin money, capped at ₹25,00,000, upon receipt of a financial institution's sanction order for a project worth ₹1,00,00,000.
• The loan amount will be released to the bank on behalf of the entrepreneurs.
• The commercial production should commence within six months of the Margin Money Grant release.

Eligibility Criteria
1. The coir unit must be established in Puducherry.

Application Process
Step 1: Step 1: The interested applicant should take print of the prescribed format of the application form.
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Step 1: The interested applicant should take print of the prescribed format of the application form.

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).
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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: The interested applicant should visit (on a working day, and during office hours) the District Industries Centre (Thattanchavady, Puducherry - 605 009), and submit the duly filled and signed application form and the documents to the concer…
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Step 3: The interested applicant should visit (on a working day, and during office hours) the District Industries Centre (Thattanchavady, Puducherry - 605 009), and submit the duly filled and signed application form and the documents to the concerned authority.

Step 4: Step 4: On receipt of the application, necessary entries will be made in the application receipt register and a unique number is assigned to the applicant for identifying each applicant which shall be used for all further references and also as ac…
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Step 4: On receipt of the application, necessary entries will be made in the application receipt register and a unique number is assigned to the applicant for identifying each applicant which shall be used for all further references and also as acknowledgement for the receipt of the application.

Required Documents
• Loan sanction letter from the financial institution.
• Undertaking letter from the promoter, assuring successful operation for five years post-establishment.
• Proof of unit establishment in the Union Territory of Puducherry.

Frequently Asked Questions
Q: What percentage of margin money is provided under the scheme, and what is the maximum cap?
A: The scheme offers 25% margin money, capped at [?]25,00,000, upon receiving a financial institution's sanction order for a [?]1,00,00,000 project.

Q: What is the geographical requirement for establishing a unit under this scheme?
A: Eligible units must be set up within the Union Territory of Puducherry.

Q: What is the timeline for commencing commercial production after receiving the Margin Money Grant?
A: Commercial production should commence within six months of the Margin Money Grant release.

Q: What commitment is expected from promoters regarding the successful operation of the unit?
A: Promoters must submit an undertaking assuring successful operation for five years post-establishment.

Q: How much loan amount should the financial institution sanction for entrepreneurs to avail the margin money?
A: Entrepreneurs need a financial institution's sanction order for a project worth [?]1,00,00,000 to avail the margin money.

Q: Where can interested applicants obtain the prescribed application form for the scheme?
A: Interested applicants can download the application form from the official website: https://dic.py.gov.in/application-forms-download-area.

Q: Where can the citizens find the Citizen's Charter for detailed information on the scheme?
A: Detailed information about the scheme can be found in the Citizen's Charter, available at https://dic.py.gov.in/sites/default/files/citizencharter.pdf.

Q: How can individuals address grievances related to the "Development of Coir" Scheme?
A: Grievances can be addressed through the Grievance Redressal Mechanism at https://industry.py.gov.in/grievance-redressal-mechanism.

Q: Is there a specific time frame for visiting the Project Manager (Cottage Industries) for application submission?
A: Applicants should visit during working days and office hours for the submission of application forms and documents.

Q: Are applicants required to paste a passport-sized photograph in the application form?
A: Yes, applicants must paste a passport-sized photograph in the application form, signed across if required.

Q: What is the location of the District Industries Centre where applicants need to submit their application forms?
A: Applicants should submit their forms to the District Industries Centre in Thattanchavady, Puducherry - 605 009.

Q: Where can interested individuals find the official guidelines for the "Development of Coir" Scheme?
A: The official guidelines are available at https://dic.py.gov.in/development-of-coir.