'SMILE' to support the Covid-19 victims' families

Can avail loan upto Rs 5 lakh at 6% interest rate
'SMILE' to support the Covid-19 victims' families

NASHIK: The Mahatma Phule Backward Classes Development Corporation, Sant Rohidas Leather Industries and Leatherworkers Development Corporation and the National Scheduled Castes Finance and Development Corporation (NSFDC) New Delhi will be providing support to scheduled caste families who have lost the head of their families due to the Coronavirus (COVID-19) infection.

The details of the scheme for rehabilitating the family and Support for Marginalized Individuals for Livelihoods Enterprise (SMILE) are as follows: In the loan scheme, NSFDC’s participation will be 80 per cent, the capital grant will be 20 per cent, the interest rate will be 6 per cent, while the repayment period will be six years for projects costing between Rs 1 lakh and 5 lakh.

Rs 4 lakh will be given at six per cent interest rate and Rs 1 lakh will be given in the form of subsidy. If all the proofs including death certificate, annual income up to Rs three lakh of the head legal heir are submitted to the office of the Leather Development Corporation, their case will be forwarded.

Eligibility

Applicants should be from Scheduled Castes, and their annual income should be up to Rs 3 lakh. Applicant’s head of the family should have died due to COVID-19. The income of the deceased must be more than the total income of the family.

"The scheme is good. The loan amount should be increased while helping the family which is in distress due to the death of the head of the house. Given the current competitive environment, inflation and recession, interest rates need to be kept at four per cent. Also, the subsidy of Rs one lakh needs to be increased a bit. Also, there should be transparency in the implementation of the scheme." - Dilip Govind, District President, Charmakar Mahasangh

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