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Seed Capital Fund Scheme (SCFS)
(Scheme under Sher-e Kashmir Employment and Welfare Programme for the Youth (SKEWPY) announced by Government of Jammu & Kashmir.)
Objectives :
  • To motivate, train and facilitate educated youth to take up entrepreneurship as a career option and create employment opportunities not only for themselves, but also for others.
  • To invest in various areas of economy to optimally exploit the resources.
Core Areas :
  • Horticulture, floriculture, cultivation of medicinal and aromatic plants;
  • Food-processing at the household/village level;
  • Food storage establishment, particularly cold chains;
  • Handloom, handicrafts and other artisanal products: particularly design improvement, technology-transfer and marketing;
  • Ventures in poultry, sheep-breeding and production, collection, storage and marketing of milk: aimed at import substitution;
  • Setting up of computer literacy/training institutes in villages/habitations particularly with a population of less than 3000 souls;
  • Health services unit/dental care units set up by doctors;
  • Pathological labs including diagnostic facilities set up by doctors/trained professionals;
  • Tourism-related enterprises covering houseboat owners, setting up of Paying Guest facilities, small dhabas and restaurants with a capacity of 20 seats.
Eligibility :
  • A state subject
  • Fall in the age group of 18 to 37 years
  • Qualification of 10+2 or above.
  • Unemployed;
  • No income ceiling for coverage under the scheme;
  • Beneficiaries must be registered with the concerned District Employment and Counseling Centre. They can also be registered with other departments and institutions like DICs etc. wherever required so as to take advantage of the benefits which may accrue through such registrations.
  • Any person or any existing units and the units which have already availed of any incentive or subsidy under any scheme of the Government of India or the State Government shall not be eligible for assistance under the scheme;
  • No institution, corporate body, society or an NGO shall be eligible for assistance under the scheme.
Funding Pattern :
  • Under Graduates/Graduates : 35% of the project cost subject to a maximum of Rs 3 lacs.
  • Post Graduates: 35% of the project cost subject to a maximum of Rs 5 lacs.
  • Technically Qualified persons*: 35% of the project cost subject to a maximum of Rs 7.5 lacs.
  • For Group Initiatives: the upper limit shall be relaxable upto Rs 10.00 lacs.
  • In Individual Cases where costlier technologies are involved, the upper limit shall be Rs 10.00 lacs**
                                                                                                * Technically Qualified Persons shall include Engineers, Doctors, Computer Science & Technology         Graduates, MBAs, etc.
      ** The Screening Committee shall decide as to which case falls in this category.
Moratorium Period: Maximum up to 2 years.
(For Minority Communities and Persons with Annual Income less than Rs. 81,000/- (Rural Person) Rs. 1,03,000/- (Urban Person)
Objective: To facilitate job oriented education amongst the weaker section of the minorities.
Loan Extent: Rs.10,00,000/- @ Rs.2,00,000/- per year
Eligibility Criteria:
  • Applicant should be in the age group of 16-32 years.
  • Confirmed admission in the intended course. (However, application for loan can be made in anticipation of admission).
  • Women and Physically challenged candidates given preference.
Eligible Courses:
  • Professional and Technical Courses
  • Courses of study with good potential in the job market.
  • The duration of the course not exceeding five years (shorter duration courses given preference).
  • The College/Institute should have been offering the course for the last 3 years and should be recognized by the Government at the Central/State Government or by appropriate authority such as AICTE.
Loan Admissible for Expenditure on:
Admission fee /tuition fee / Cost of books / stationery/ other instruments / Examination fee /Boarding and lodging expenses.
Terms of Release of Loan:
  • Admission fee, tuition fee, examination fee and similar expenditure paid directly to the College/Institute as per the bill raised by the College/Institute.
  • The remaining sum can be paid by way of a cheque/Demand Draft made in the name of the applicant through the Principal of the college/institute for expenditure on books, boarding and lodging.
  • The loan will be released in instalments on trimester/semester/annual basis.
  • Depending upon the system of the concerned College/Institute. The subsequent release of loan will depend upon successful completion of the previous term. A Certificate in this regard required from the head of the institute.
Moratorium Period: Up to 6 months from the date of completion of the course or till the beneficiary starts earning whichever is earlier.
Repayment of Loan:
  • At the end of the moratorium period, the principal and interest is to be repaid by the borrower in maximum of 60 equal monthly instalments.
  • In case the candidate discontinues the studies due to any reason whatsoever, the loan with interest would become repayable immediately.
  • Parent/Guardian of the applicant to be taken as co-borrower.
  • Approved securities equal to the value of the loan such as UTI/NSC/Public sector Bonds, etc.      OR
  • Creation of charge on agricultural land having value double the loan amount.     OR
  • Personal surety of permanent employee working in Government/PSU/Bank/Autonomous Bodies. The employee should have sufficient years in service to cover the amount being sanctioned as loan. A certificate to be obtained from the surety that in the event of default, the repayments would be made by him/her.
  • Post dated cheques towards repayment of loan from the beneficiary i.e. the student who has taken the loan.
TERM LOAN SCHEME Rate of Interest: 6%
Projects Considered: Projects costing upto Rs. 10 lacs
Loan Extent: 90% of the Project Cost
Beneficiary’s Contribution: minimum 5% of the project cost.
Eligibility Criteria:
  • Age : No bar
  • Permanent Resident of Jammu & Kashmir State
  • Applicant should belong to minority community (Muslim, Sikh, Christian, Buddhist, Parasi)
  • Family Income less than 81,000/- (Rural Areas) & 1,03,000/- (Urban Areas)
Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture which for the sake of convenience has been divided into the following sectors:
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