Under this corporation, self employment loans are provided to people belonging to minority community to start business, small scale cottage industry, service sector, agriculture based activities etc. Also, loans and subsidies will be provided in collaboration with nationalized / scheduled banks for development.
Subsidy for minority community will be 33% of the unit cost or up to a maximum limit of Rs.1.00 lakh.
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What is the eligibility to get this subsidy?
1. The applicant should belong to the religious minority category of the state.
2. Applicants must be permanent residents of the state.
3. Age limit of applicant should be between 18 to 55 years.
4. Annual family income from all sources should be below Rs.81,000 in rural areas and Rs.1.03,000 in urban areas.
5. No member of the family should be an employee of State / Central / Public Sector Unit Govt.
6. Applicants should not have already availed loan under Minority Development Corporation.
Documents required for application
1. Online Application
2. 2 recent passport size photographs of the beneficiary.
3. Caste, Income Certificate.
4. Aadhaar Card Copy.
5. Project Report.
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How to apply?
website / https://suvidha1.karnataka.gov.in/ should visit and apply. After taking a printout of the application, the applicant should visit the Minority Development Corporation office of their district and submit the application. They will verify the application, then grant the subsidy as per the order/instructions of the Government.
Candidates can know the date of application, date of placement, other information in their respective district Minority Development Corporation offices.
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Once the candidates have submitted the online application form, they must take a printout and submit it to the concerned District Divisional Office. There should be no false information in the supplementary documents, bank pass books to be provided.