Canara Bank :: Priority Credit Section

GOVERNMENT SPONSORED SCHEMES

Canara Bank is the front-runner in implementing various Government Sponsored Schemes aimed to uplift poor, educated un-employed / under-employed people in rural / semi-urban / urban areas by providing financial assistance to set up self-employment ventures with the help of various government authorities / agencies.

The following are the prominent schemes:

x Swarna Jayanthi Shari Rozgar Yojana

x Swarnajayanthi Gram Swarozgar Yojana

A. Swarna Jayanthi Shahari Rozgar Yojana (SJSRY)

Purpose	Assistance to individuals under Urban Self Employment Programme (USEP) for setting up of gainful self-employment ventures & Development of Women & Children in Urban Areas (DWCUA).
Eligibility	BPL Applicants residing in urban/semi-urban towns for at least 3 years. Any bankable project/activity involving a project cost of upto Rs 50000 for individuals. For DWCUA no ceiling on project cost.
Margin	5% of the project cost
Quantum of Loan	95% of project cost
Security	Hypothecation/Mortgage/Pledge of assets created out of loan
Activities	Any bankable activity / project which can be undertaken at towns.
Project Cost	Rs.50,000/- under USEP. In respect of DWCUA, no ceiling on project cost.
Subsidy	Individuals - 15% of the Project cost (Max-Rs. 7500)DWCUA group - 50% of the Project cost (Max-Rs.1.25lakh)
Repayment	Within 3 to 7 years
Sponsoring Authority	Urban Local Bodies

Conditions Apply:

The information provided above are only illustrative and not exhaustive.

For more details, please contact your nearest Canara Bank Branch or mail to pcwing@canarabank.com

B. Swarnajayanthi Gram Swarozgar Yojana (SGSY)

Purpose	For setting up self employment ventures in rural areas
Eligibility	All families in rural areas who find a place in the list of below poverty line identified through BPL census duly approved by Gram Sabha are eligible for assistance under the scheme.
Margin	Loans upto Rs.50,000/- for individuals & Loans upto Rs. 6.25 lakh for Groups - No margin Loans above Rs.50,000/- for individuals - 20% of the project cost minus the actual subsidy available Loans above Rs. 6.25 lakhs for Groups - 25% of project cost minus actual subsidy
Security	Loans upto Rs. 50000 for individuals & loans upto Rs. 5 lakh for Groups - Hypothecation of assets created out of loan / mortgage of landed property / third party guarantee Above Rs.50,000/- in case of individuals and Rs.5 lakhs in case of SHGs - Hypothecation of assets created out of loan & mortgage of landed property/guarantee of third party.
Activities	Key activities identified by Gram Sabha including farm sector
Project Cost:	Unit cost as fixed by District SGSY Committee
Subsidy	30% of the project cost with a ceiling of Rs.7500/-. For SC/ST 50% of the project cost with a ceiling of Rs.10000. For groups, 50% of the project cost subject to ceiling of Rs.1.25 lakhs.
Repayment	Within 5 to 9 Years
Sponsoring Authority	Block Development Officer

Conditions Apply:

The information provided above are only illustrative and not exhaustive.
For more details, please contact your nearest Canara Bank Branch or mail to pcwing@canarabank.com