Qualified lending institution | Includes Public Sector Banks, State financial corporation's (SFC), State Industrial devlopment corporations (SIDCs), Scheduled banks, Cooperative Banks and NBFCs registered with RBI |
Sanction date
| Prior to date of commercial invoice of plant & machinery
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Manimum loan of machinery cost
| Minimum 50% of the total eligible machinery cost
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Tenure of loan (Minimum )
| "For MSMEs Minimum 03 Years
For Non-MSMEs Minimum 05 Years" |
Transfer of existing loan
| Yes, Subject to terms & conditions mentioned under Scheme. |
Advance payment limit
| Advance payment up to the limit of his own share ( promotor contribution ) in machine cost can be made by applicant prior to sanction of finance. |
Machinery life as Commercial Production | The beneficiary unit will have to remain in commercial production for ten(10) years after installation of plant & machinery. |
Benefits under other scheme:- | Textile units are permitted to avail of benefits of State Government's Schemes in addition to the benefit provided under this Scheme. |
Where subsidy be credited | Subsidy amount will be directly credited in account of beneficiary.
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