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WELCOME TO ANDHRA PRADESH STATE MINORITIES FINANCE CORPORATION

Economic Assistance
Minority Artisans Development Scheme In Clusters (MADSC)
Interest Subsidy On Bankable Schemes
 
 

Minority Artisans Development Scheme In Clusters (MADSC)

Minority Artisans Development Scheme in Cluster essentially loans Minority Artisans in Cluster approaches by providing loan through Banks for purchase of improved food kits & Small equipments to enhance productivity.
Eligibility:
1.Should be from Minority Community
2.Practicing Minority Artisans in the Cluster
3.Age Limit between 18 to 55 years
4.Family annual income below Rs.50,000/-

Pattern of Assistance:
1. Maximum unit cost Rs.60,000/- per beneficiary
2. 50% subsidy from Corporation subject to maximum of Rs.30,000/-
3. 10% Beneficiary contribution
4. Remaining Bank Share of loan

Repayment of Bank Loan:
Bank loan will be provided at existing priority section lending interest rates with Repayment of loan over a period of 3 years without any moratorium.
Interest Subsidy (Pavala Vaddi):
To ensure fiscal discipline & 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 at downloads (Government Orders)