Short Description
- To raise the net disposable resources of the societies
- To create assets to the societies.
- To meet the working capital requirements in emergency.
Beneficiaries
- Primary handloom weavers co-operative societies, industrial co operative societies (cottage type, factory type, SC/ST co operative societies)
- Hantex, Hanveev
How to apply
Through General Manager, District Industries Centre
Eligibility
Cottage type, factory type, SC/ST societies are eligible for 2,3,5 times in respect of the total paid up share capital. Maximum GSP limited to 5 lakhs.
Criteria
There shall be not less than 25 looms in the society for which the looms and the weavers have been identified and genuiness ascertained by Registrar. The percentage of sympathiser members in the society shall not exceed 5% of the total members on rolls of the society. There shall be a paid secretary to the society appointed with the approval of the Registrar. There shall be provision in the bye laws of the society for the Government to become a member of the society and to take shares. The bye laws shall also contain provision for the collection of thrift deposit not less than 6 % from the wages earned by the members which shall annually be converted into shares. The amount of government share participation sanctioned and disbursed to a society shall be utilised within six months from the date of drawal of the amount. If not utilised within this stipulated period, the entire amount left shall be refunded to Government within 15 days from the date of expiry of the utilisation period.