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WELCOME TO ANDHRA PRADESH STATE MINORITIES FINANCE CORPORATION

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Economic Assistance
 
 

Economic Assistance (Bankable Scheme)


Individual Assistance for Activities like Agriculture Allied, Industries, Small Business, Services, Transport etc can be taken up in collaboration with Banks at cheaper rate of Interest for Bank Share of loans.

Eligibility:
1. beneficiary should be from Minority Community
2. Age between 18 to 55 years
3. Family Annual Income Rs.60,000/- in Rural areas and Rs.75,000/- in Urban areas.
Pattern of Assistance :
1. 50% subsidy subject to a maximum of Rs.30,000/-
2. 10% beneficiary contribution
3. Remaining Bank Loan
Repayment of Bank Loan:
Bank share of loan shall be recovered over a period of 3 years without any moratorium
Interest Subsidy (pavala vaddi):
To ensure fiscal discipline and prompt repayment of Bank loan by beneficiary. Interest subsidy to reduce interest burden by subsiding the interest over and above 3% charged by bank.
The Detailed guidelines are available in G.O.Ms.No.30,Dt.23-07-2008 and G.O.Rt.No.273, Dt.04-10-2012 at downloads (Government Orders)