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CHIEF MINISTERS SELF EMPLOYMENT SCHEME

 
     
 

The Government of Sikkim has launched Chief Minister’s Self Employment Scheme ( CMSES ) w.e.f. March 2002 for providing loan to educated unemployed youths for setting up of self-employment venture through service and business routes. SIDICO is the Nodal Agency for implementation of this scheme.

 
     
  ELIGIBILITY  
 
i)

The applicant should have minimum qualification of class  X and above and are unemployed.

 
 
ii)

Applicants who have completed livelihood/vocational training courses from recognised institutes.

 
 
iii)

Benefit shall be restricted to persons whose family income from all sources does not exceed Rs.2.50 lakhs p.a.

 
 
iv) One member of the family shall be eligible for the benefit except in case of BPL families.
 
     
  QUANTUM OF LOAN  
  The maximum loan limit under this scheme is Rs.5.00 lakhs.  
     
  DISBURSEMENT  
  The loan will be disbursed in 2 – 3 installments by an account payee cheque after inspection / verification of the unit.  
     
  RATE OF INTEREST  
  The loan under this scheme is interest free for the first two years from the date of first disbursement. Thereafter it shall bear an interest @ 6% p.a.  
     
  REPAYMENT PERIOD  
  The loan is repayable within five years on EMI basis after the moratorium period. However, the loanee is at liberty to make the repayment before the due date.  
     
  LOAN PROCESSING FEE  
  The loan processing fee of @ 1.00 % is charged on the sanctioned loan amount..  
     
  DOCUMENTS REQUIRED  
 
i)  Loan application along with 2 recent passport size photos.
 
 
ii)  Attested copy of pass certificate / mark sheet of class X and above.
 
 
iii)  Attested copy of birth Certificate
 
 
iv)  Sikkim Subject Certificate / Certificate of Identification
 
 
v)  Valid employment card
 
 
vi)  Collateral security
 
 
vii)  Income certificate of parents
 
 
viii)  Project report
 
     
  Committee member for CMSES  
  Secretary,Commerce and Industries, Govt. of Sikkim    : Chairman  
     
  Director,Capacity Building,Govt. of Sikkim                    : Member  
     
  Managing Director, SIDICO                                          : Member Secretary  
   
       

© Sikkim Industrial Development & Investment Corporation Ltd. Sikkim, India
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mdsidico@rediffmail.com. Website : sidico.org

 
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