This component will focus on financial assistance to individuals/ groups of urban poor for setting up gainfull self-employment ventures/ micro-enterprises, suited to their skill, training, aptitude and local conditions.
Urder this component, setting up of both individual and group micro enterprises will be support. The project cost ceiing will be Rs. 2lakh for individual enterprises and Rs. 10lakh for group enterprises. Individual and group may be provided loan from the bank and the application for such loans be perferably recommended by the SHGs.
Interest subsidy over and ah1ove 7 percent rate of interest will be available on a bank loan for setting up of an individual or group enterprise
Interest Subsidy over and above 7 percent rate of interes
