IND MSME SAKHI
IND MSME SAKHI
Micro, Small & Medium Enterprises are popularly known as the growth engines of Indian Economy due to its significant contribution towards GDP, Manufacturing output, Export and creation employment to large section of society.
Women entrepreneurs accounts for nearly 20 % of total MSMEs. Most of women entrepreneurs have setup their small business with the help of microcredit availed under SHG model.
In order to expand their business and graduate them to Entrepreneurs, additional funding is essential. GOI/RBI has given thrust on extending credit facility to individual members of SHGs depending on requirement.
To encourage women entrepreneur, a new product is being launched with key features as under:
Key features of the Scheme:
| Parameters | Norms |
| Target Group | · Members of Self Help Group with satisfactory repayment track record of 2 years.
· Availed two rounds of finance from SHG; first loan fully repaid; second loan may be running. |
| Interest Rate | Repo+ Spread (3.60%) |
| Processing Charges | Nil |
| Margin | 10% |
| Repayment Terms | 60 Months (Door to Door tenor) |
| Loan amount ranging | Rs 0.10 Lakh to Rs 4.00 Lakh |
Scheme Guidelines–“IND MSME SAKHI”
| Particulars | Guidelines |
| 1. Target Group | Individual Members of SHGs |
| 2. Eligibility | 1. Members of Self Help Group with satisfactory repayment track record of 2 years.
2. For those members who have availed one dose of bank loan with and made timely repayment of the loan 3. Minimum CIBIL score 650 and above or 0/1 equivalent other CIC score. |
| 3. Borrower’ Age | · Minimum: 18 Years
· Maximum : 65 Years at Loan Maturity. |
| 4. Purpose | For setting up of Manufacturing/ Trading / Service units. |
| 5. Types of Facility | Term loan. |
| 6. Loan Amount | Minimum: Above Rs 0.10 Lakhs
Maximum : Rs 4.00 Lakhs |
| 7. Margin (Promoter’s contribution) | 10% |
| 8. Type of Assessment | As per extant guidelines. |
| 9. Security | · Hypothecation of Assets Created out of the loan.
· Account to be covered under CGTMSE scheme |
| 10. Repayment terms | Maximum : 60 Months (Including Moratorium if any ) |
| 11. Rate of Interest | Repo*+ Spread (3.60%) |
| 12. Processing & other charges | Nil processing Charges |
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