Motivation of Unemployed Persons to Start Self-Employed Enterprises Scheme (MUPSES)

 

Objective:

To encourage un-employed persons in the U.T. of Puducherry to start self-employment in manufacturing or service sector enterprises.

Target Group:

Unemployed Men and Women who willing to start a business.

Eligibility Criteria:

                   i.          Should be resident of the Union Territory of Puducherry.

                 ii.          Age - As per existing Bank norms.

               iii.         Educational qualification - Known to read and write.

Purpose of Loan:  All services and industrial activities and Self-employment manufacturing and service units such as Mechanized Laundry, Beauty Parlour(saloon), Tailoring units, Hygienic Tea/Coffee stalls, etc.

Loan Amount :  Up to Rs.2,00,000/-.

Security:  Primary security on the assets created out of bank finance. No collateral security is required.

Repayment: Repayment schedule is maximum 60 months.

Financial Institutions:

i.     All Public Sector Banks

ii.   All Regional Rural Banks, Co-operative Banks, Private Sector Scheduled Commercial Banks regulated by RBI

iii. Small Industries Development Bank of India (SIDBI)

Subsidy Processing:

i.     50% of the project cost excluding pre-operative and preliminary expenses will be granted as subsidy for the projects not exceeding Rs.50,000/- and

ii.   35% of the project cost excluding pre-operative and preliminary Expenses to a maximum of Rs.35,000 will be granted as subsidy for project cost exceeding Rs.50,000 but less than Rs.2.00 lakhs.

Period of Loan disbursement:

As soon as the beneficiary completes the formalities required by the Banks.

 

Procedure/Flowchart for MUPSES SCHEME

·        District Industries Centre(DIC), Thattanchavady, Puducherry, Implementing Agency will collect applications from eligible candidate

·        Application collected and submitted to MUPSES Task Force

·        MUPSES Task Force will review and approve the applications

·        Approved applications will be forwarded to banks

·        Banks appraise & provisionally sanction the application

·        After Sanction bank will obtain Annexure-I and Annexure-II from the applicant

·        Bank will prepare Annexure-III (Certificate of Sanction of loan)

·        Bank will submit forms (annexure-I, II& III) to the DIC along with Sanction Ticket for Subsidy Claim

·        DIC will settle the subsidy claimed by the bank

·        Bank should credit the subsidy in the loan account of beneficiary and furnish the certificate in Annexure-IV to DIC within a Month.