Tejaswini-the Radiant

Description
A scheme to provide financial assistance to the young women for setting up gainful self-employment ventures, suited to their skills, training, aptitude and local conditions. The scheme aims to: - To empower and encourage women for income generation for activities either in manufacturing/ service/ trading/ small business etc. - To facilitate soft finance for setting up new unit / enterprise or for expansion / modernization of existing Unit. - For acquisition of fixed assets Plant & Machinery, equipment, furniture & fixtures - To meet working capital needs for purchase of various products /equipment/tools etc. Activities covered: - Canteen and Restaurant - Computerized Desk top publishing - Crèche - Cyber Café - Beauty Parlour - Day care centre - Laundry & Dry Cleaning - Mobile Repairing - Photocopying Xerox Centre - Boutique/ Tailoring - Training Institute - Fitness Centre - Yoga Centre - Any other profitable activity/ Micro Start-up/ Small business unit of similar nature

Exclusions
• Loan facility availed by the beneficiaries under Govt. sponsored scheme are not eligible under this scheme,
• Any person or any, existing units and the units which have already availed of any incentive or subsidy under any government scheme shall not be eligible for assistance under the scheme

Benefits
• A financial assistance of Rs. 5 lakh under Mudra loan from J&K Bank
• Re-payment of Financial Assistance provided under this scheme shall be interest free.
• Mission Youth, J&K shall provide an amount of Rs. 50,000 or 10% of project cost (Whichever is minimum) as special incentive (subsidy) towards the loan which shall be adjusted towards monthly installments of the loan for first six months.
• Interest subsidy up to Rs 0.60 lakh per beneficiary shall be provided by Mission Youth, J&K. The interest subsidy, however, shall be provided only on production of necessary documents (including Bank statement/ Income Tax statement/ certificate by DLIC) testifying the sustainability of the activity.

Eligibility Criteria
1. - Any female domicile of J&K, essentially registered with Mission Youth, J&K.
2. - Any individual women/ women entrepreneur (s)/ enterprise where women entrepreneurs hold not less than 50% of financial holding.
3. - Preference will be given to the categories of women entrepreneurs trained in Rural Self Employment Training Institutes (R-SETIs)/ Skill Development Institutions etc. any other training institute.
4. - The applicant should not be a defaulter to any Bank /Financial Institution.
5. - The financial assistance would be given only to women between the age of 18 to 35 years having a qualification of 10th standard or above. Provided that CEO Mission Youth shall be competent to relax the educational qualification criteria for deserving candidates on a case to case basis, based on proper justification.
6. - The beneficiary must be unemployed and registered with the concerned District Employment & Counseling Center
7. - No criteria regarding income of the family would be considered for the eligibility under this scheme.
8. - One woman can seek the assistance under this scheme only once.
9. - The amount of self assistance provided by Mission Youth (MY) has to be compulsorily utilized for self employment generation only.
10. - If the total project cost of the self employment unit to be set up by the beneficiary exceeds Rs 5.00 lakh, the amount over and above shall have to be self financed by the applicant.
11. <br>

Required Documents
• Domicile Certificate/ Ration Card
• Aadhaar Card;
• Date of Birth Certificate issued by the competent authority;
• Matriculation Certificate
• Unemployment certificate (Unemployment Certificate is required only if applying as a new business)
• Project repot of the activity intended to be financed;
• The applicant will submit an affidavit to the effect that applicant will continue the trade for a period not less than 5 years or till the liquidation of loan amount in full, whichever is later;