Coimbatore District Administration, led by Collector Kranthi Kumar Pati, has provided Rs. 49.70 crore in subsidized loans for self-employment under various schemes to uplift economically backward communities.
Coimbatore: Coimbatore District has seen significant financial support towards fostering self-employment and entrepreneurship among Scheduled Castes and Tribal communities. The Collector Kranthi Kumar Pati announced that over Rs. 49.70 crore in loans, coupled with subsidies, have been disbursed to ignite small-scale businesses and agricultural enterprises.
The initiative is part of the Annal Ambedkar Business Champions Scheme (AABCS), launched by the Chief Minister of Tamil Nadu. The scheme aims to transform the socio-economic status of the Scheduled Castes and Tribes by encouraging them to venture into various sectors including agriculture, government, and private employment, thereby not only creating job opportunities but also ensuring community development.
Under this scheme, applicants who are already engaged or wish to start new businesses can seek financial assistance which can cover up to 35% of the project costs or a maximum of Rs. 150 lakh as subsidy, with an additional 6% interest subsidy. For application and more details, potential entrepreneurs can visit the official portal www.msmeonlinetn.gov.in.
Applications are vetted by a district-level selection committee before recommendations are made to the respective banks. The District Industrial Center (DIC) of Coimbatore plays a pivotal role in facilitating this process, offering guidance, and connecting entrepreneurs with financial institutions.
Last year alone, through the AABCS, 55 individuals received grants totalling Rs. 6.79 crore. Over the past three years, under various employment generation schemes, a combined total of 927 individuals have been supported with Rs. 49.70 crore in loans and grants to kickstart or enhance their business ventures.
These efforts underscore the district administration’s commitment to creating substantial employment opportunities through entrepreneurial development, aiding the mission of inclusive growth across the district.
The initiative is part of the Annal Ambedkar Business Champions Scheme (AABCS), launched by the Chief Minister of Tamil Nadu. The scheme aims to transform the socio-economic status of the Scheduled Castes and Tribes by encouraging them to venture into various sectors including agriculture, government, and private employment, thereby not only creating job opportunities but also ensuring community development.
Under this scheme, applicants who are already engaged or wish to start new businesses can seek financial assistance which can cover up to 35% of the project costs or a maximum of Rs. 150 lakh as subsidy, with an additional 6% interest subsidy. For application and more details, potential entrepreneurs can visit the official portal www.msmeonlinetn.gov.in.
Applications are vetted by a district-level selection committee before recommendations are made to the respective banks. The District Industrial Center (DIC) of Coimbatore plays a pivotal role in facilitating this process, offering guidance, and connecting entrepreneurs with financial institutions.
Last year alone, through the AABCS, 55 individuals received grants totalling Rs. 6.79 crore. Over the past three years, under various employment generation schemes, a combined total of 927 individuals have been supported with Rs. 49.70 crore in loans and grants to kickstart or enhance their business ventures.
These efforts underscore the district administration’s commitment to creating substantial employment opportunities through entrepreneurial development, aiding the mission of inclusive growth across the district.