- Following types of borrowers are eligible for coverage under the Scheme:-
(i) Registered Companies and Societies
(ii) Registered Partnership firms
(iii) Proprietorship Firms
having more than 75% shareholding held by Scheduled Caste entrepreneurs/promoters/members with management control for the past 12 months, ensuring asset creation out of the loans proposed to be covered under the scheme
*Registered Partnership Firms having more than 75% shareholding held by Scheduled
Caste Partners for the past 12 months with management control and none of the partners is below the age of 18 years.
Proprietorship firms being into existence and proprietorship of a scheduled caste entrepreneur for past 12 months.
None of the above mentioned entities should be covered under any State/ Central Government Subsidy/Grant Scheme for being eligible under the scheme.
The rate of interest applicable on the loans covered under the scheme will be as per the interest rate policy of the MLI and will be linked to base rate of the MLI subject to
maximum interest rate of not more than 3% over and above the base rate of the MLI.