Financial Assistance Scheme (Gujarat Minority Finance and Development Corporation) |
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Established :24-1-1997Fund :Rs. 400.00 Crore
Purpose :To provide self employment to the Disable persons and to increase the production.
Power to sanction : Gujarat Minority Finance and Development Corporation, Gandhinagar.
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Gujarat Minority Finance and Development Corporation has been appointed as Nodal Agency for handling the work of Schemes for financial assistance. The below mentioned schemes of financial assistance are implemented y this Agency :- |
- Up to Rs. 3.00 lakh for small business and self employment,
- Rs. 7.50 lakh for higher education and vocational training in India andRs.15.00 lakh for higher education in foreign Countries.
- Up toRs. 5.00 lakh for development of agriculture,
- Rs. 5.00 lakh for purchase of vehicles for hiring purpose,
- Up to Rs. 3.50 lakhs assistance to Mentally retarded persons.
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Income Criteria (Annual) : |
- Rural areas – Rs. 1,60,000/-
- Urban areas – Rs. 2,00,000/-
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Rate of interest : |
- Up to Rs. 50,000/- - 5%
- Up to Rs. 1.00 lakh – 6%
- Up to Rs. 5.00 lakh – 6%
- Above Rs. 5.00 lakh - 8%
- 1% relief to Disable women.
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