What you get
- Financial Support up to a maximum of ₹ 10,00,000 to individuals. | - Loan/ Financial Assistance up to a maximum of ₹ 10,00,000 to the Association / Societies / Partnership / Self-help groups (SHG) / Companies. | - The beneficiary is required to contribute a 10% margin money towards the cost of the project. (The BOD may relax this condition considering the merit in each case, but this relaxation shall not be applicable to the Association / Societies / Partnership / SHG / Company etc). | Insurance | - The life of the beneficiary and the business activity shall be insured from fire, theft, cyclone and other natural calamities with the agency identified by the Corporation and the said policy shall be endorsed in the name of the Corporation. | - In the event of any calamity, the compensation received from the Insurance Company shall be adjusted against the loan outstanding in the Corporation.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the definition of "Family" in the context of this scheme?
"Family" includes Husband, Wife, unmarried Children, Father, Mother, unmarried brother, and sister below 18 years, fully dependent and staying with the applicant.
How is insurance integrated into this scheme?
The life of the beneficiary and their business activity is insured against fire, theft, cyclone, and other natural calamities with an agency identified by the Corporation. Compensation received from the Insurance Company in case of any calamity is adjusted against the outstanding loan in the Corporation.
What is the significance of the 10% margin money requirement for the project cost?
Beneficiaries are required to contribute a 10% margin money towards the project cost. However, the Board of Directors (BOD) can relax this condition based on the merit of each case, except for Association / Societies / Partnership / SHG / Company applicants.
What are the eligibility criteria for availing the benefits of this scheme?
The applicant should be from the Scheduled Tribe (ST) Community, have a family income not exceeding [?]1,00,000 per annum, and be aged below 55 years. They should also intend to undertake self-employment activities and provide two guarantors, one of whom must be a Government Servant.
Can you explain the mortgage requirement for this scheme?
The beneficiary needs to mortgage their business activity to the Corporation until the full and final repayment of the loan is made.
How long is the repayment period for the loan?
The repayment period, which is decided by the Board of Directors, varies based on the nature of the business. The standard repayment period is 10 years, determined during the sanctioning of the loan for specific self-employment activities.
What happens if a borrower defaults on their loan installments?
In case of overdue installments, a 2% penal interest shall be charged on the amount of overdue installments, and the entire loan amount along with the interest shall be recovered as land revenue arrears.
Is the interest rate for the loan fixed, and how is it calculated?
Yes, the interest rate is 4% per annum, calculated using the Reducing Balance Method.
How much financial assistance can an individual person belonging to the Scheduled Tribes Community expect under this scheme?
An individual person can receive financial support of up to a maximum of [?]10,00,000 for their self-employment activities.
Can you explain the types of entities that are eligible to apply for financial support under the "Self Employment Scheme"?
Individuals, as well as Associations, Societies, Partnerships, Self-help Groups (SHGs), and Companies formed exclusively by members of the Scheduled Tribes Community, are eligible to apply.
Is there a specific maximum amount of loan available for Associations, Societies, Partnerships, SHGs, and Companies?
Yes, loan or financial assistance of up to [?]15,00,000 is available for these entities formed exclusively by Scheduled Tribes Community members.
Can an applicant from the Scheduled Tribes Community with a family income slightly above ₹1,00,000 per annum still apply for the scheme?
No, the family income should not exceed [?]1,00,000 per annum, and this criterion is strictly followed to provide assistance to economically disadvantaged individuals.
Can you explain the process of applying for the "Self Employment Scheme"?
Interested applicants can visit the Department of Tribal Welfare offices in Panaji or Margao, Goa, to request the application form. After filling out the form, attaching necessary documents, and submitting it to the concerned authority, they receive a receipt acknowledging the application.
How does the Corporation decide on the repayment period for loans?
The repayment period is determined by the Board of Directors based on the nature of the business or activity undertaken. This period is decided during the sanctioning of the loan.
Is the relaxation of eligibility criteria possible in certain cases?
Yes, the Board of Directors has the authority to relax the eligibility criteria in deserving cases, ensuring flexibility for applicants facing unique situations.
What happens if a beneficiary fails to repay the loan on time?
If a beneficiary defaults on loan repayment, the overdue installments will accrue a 2% penal interest. The Corporation can also recover the entire loan amount along with the interest as land revenue arrears.
How does the scheme address the need for guarantors or sureties?
The scheme requires applicants to provide two guarantors or sureties, one of whom should be a Government Servant. This helps ensure financial responsibility and accountability.
Can an individual apply for financial support under the "Self Employment Scheme" for any purpose other than self-employment activities?
No, the financial support is exclusively intended for undertaking self-employment activities and cannot be used for other purposes.