Composite Loan Scheme

Scheme Category

Business & Entrepreneurship,Setting up / start-up / entrepreneurship,Micro finance,Loan

Target Beneficiaries

Individual

Brief Description

"Composite Loan Scheme" aims to provide need-based financial support to individuals from Scheduled Castes, Scheduled Tribes, Other Backward Classes, Minorities, and PwDs to help them pursue various income-generating activities. The scheme encourages self-employment and entrepreneurship.

Benefit Type

Cash

Eligibility Criteria

- The applicant should be from one of the following target groups - Scheduled Caste, Scheduled Tribe, Other Backward Class, Minority, Persons with Disability. - The applicant should be a resident of Delhi. - The applicant&39;s age should be between 18 to 50 years. - The annual family income of the applicant (from all sources) should not exceed ₹1,20,000/-. - The applicant should be willing to pursue one of the <nis:link nis:type=webUrl nis:id=slugId nis:text="income-generating activities" nis:value=https://dsfdc.delhi.gov.in/sites/default/files/cls_schem_details.pdf nis:enabled=true/> given in the scheme guidelines.- The applicant must have a proper workplace, for starting the proposed activity, either owned or rented. - The applicant should not have been declared a defaulter under any of the schemes being implemented by DSFDC.

Application Mode

Offline

Application Process

Step 1: The interested applicant should take print of the <nis:link nis:type=webUrl nis:id=slugId nis:text="prescribed format" nis:value=https://dsfdc.delhi.gov.in/sites/default/files/cls_form.pdf nis:enabled=true/> of the application form. Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph, and attach copies of all the mandatory documents (self-attest, if required). Step 3: Submit the duly filled and signed application form along with the documents, to the Branch In-Charge / Section In-Charge of the Delhi SC/ST/OBC/Minorities/Handicapped Financial & Development Corporation, Government of NCT of Delhi. Step 4: Request a receipt or acknowledgement.

Required Documents

• - Aadhaar Card as Proof of Identity and Residence.
• - Caste Certificate Issued by the Government of Delhi or Affidavit, in Case the Applicant Belongs to Any of the Minority Community.
• - PWD Certificate Issued by Govt. Hospital Showing Minimum 40% Disability, is Required if the Person Belongs to the PwD Category.
• - Age Proof in the Form of Birth Certificate / School Leaving Certificate / Affidavit.
• - Income Certificate in the Form of Affidavit.
• - Affidavit about Non-Availing of Loan from Any Financial Institution/Govt. Organization.
• - Estimate of the Items/Machines to be Procured for the Proposed Activity.
• - Ownership Proof of Workplace i.e. Electricity Bill/Water Bill/Telephone Bill (MTNL) or Any Other Document of Property.
• - Rent Agreement and ID Proof of the Owner of the Workplace in Case the Workplace is on Rent.
• - Affidavit of No Objection Certificate for Workplace, if the Workplace is Owned by Any of the Relatives (Blood Relation).
• - Affidavit of Personal Guarantee.
• - ECS (Electronic Clearing Service) Mandate in the Prescribed Format, Towards Repayment of Loan, Along with 05 Blank CTS (Cheque Truncation System) Post-Dated Cheques in Favour of DSFDC (Delhi SC/ST/OBC/Minority/Handicapped Financial and Development Corporation) and One Blank Cancelled Cheque for Making Payment Through RTGS (Real Time Gross Settlement).
• - Five Blank Post-Dated Cheques of the Guarantor are Also Required if the Loan Amount is Above ₹2,00,000/-.
• - Affidavit of Legal Heir of Applicant.
• - ID Proof of Legal Heir with Passport-Size Photo.
• - Copy of Insurance Receipt under Prime Minister Suraksha Bima Yojna (PMSBY) and Prime Minister Jiwan Jyoti Bima Yojna (PMJJBY).
• - The Applicant is Required to Bring Two Witnesses Along with Their ID Proof.
• - Group Photograph Showing Applicant, Guarantor, Two Witnesses, Branch In-Charge & Dealing Assistant.
• - Demand Draft of ₹350/- in Favour of DSFDC Towards Processing Fee.
• Guarantor’s Documents
• - Original Pay Slip of Guarantor.
• - Copy of Office Identity Card of Guarantor.
• - Aadhaar Card of Guarantor as Proof of Residence.
• - Affidavit of Guarantor & Undertaking in the Prescribed Format.
• - Date of Birth Proof of Guarantor.
• - Five Passport-Size Photographs of the Guarantor.
• - In Case of a Loan Above ₹2,00,000/-, Five Blank Cheques from Guarantors
• - OR (in Case of Collateral Security) Original Property Document, in Case of Immovable Property and NOC (No Objection Certificate) from the Owner of the Property with Complete Chain Documents.
• - OR Original Collateral Security in the Shape of NSC (National Savings Certificates)/KVP (Kisan Vikas Patra)/FDR (Fixed Deposit Receipt) and Letter of Lien in Favour of DSFDC.
• - In the Case of Loan Up to ₹50,000/-, No Guarantor or Collateral Security is Required. However, the Same Shall be Discretionary. But the Applicant Shall Have to Produce Two References/Names of Prominent Persons, Who are Permanent Residents of Delhi and Reside in the Area Where the Applicant Resides.