Union Government launched two schemes to support Scheduled Castes

Union Ministry of Social Justice and Empowerment on 16 January 2015 launched two schemes Venture Capital Fund for Scheduled Castes and Green Business scheme.

Created On: Jan 17, 2015 10:12 IST

Union Ministry of Social Justice and Empowerment on 16 January 2015 launched two schemes to support the Scheduled Castes (SC). These schemes are Venture Capital Fund for Scheduled Castes and Green Business scheme.

The scheme was launched by Thaawar Chand Gehlot, Union Minister of Social Justice and Empowerment.

Venture Capital Fund for Scheduled Castes
The Venture Capital Fund for Scheduled Castes scheme was launched with an initial capital of 200 crore rupees. Under the scheme, financial assistance of 15 Crore rupees for a period of 6 years will be provided to 30 SC entrepreneurs in a year.

IFCI Limited will be the Sponsor, Settler and Asset Management Company or Nodal Agency to operate the scheme. It will contribute 50 crore rupees which would comprise 5 crore rupees as sponsor and 45 crore rupees as investor.

The objectives of the Venture Capital Fund scheme are:
• To promote entrepreneurship amongst the Scheduled castes who are oriented towards innovation and growth technologies.
• To provide concessional finance to the Scheduled Caste (SC) entrepreneurs, who will create wealth and value for society and at the same time will promote profitable businesses.
• To develop SC entrepreneurs economically.
• To enhance direct and indirect employment generation for SC population in India.

Green Business Scheme
Under this Scheme, loan for unit cost up to 1 lakh rupees at concessional rate of interest will be provided to Scheduled Castes for activities such as e-rickshaw, Solar Pump and Solar energy powered implements, poly house etc.

Green Business Scheme for providing financial assistance has been launched keeping in focus climate change.

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