D.Devaraju Urs Backward Classes Development Corporation LTD
Brief Notes of the Corporation
D.Devaraj Urs Backward Classes Development Corporation was established during the year 1977. under Companies Act, 1956. The objectives of the corporation is to promote economic and development activities and assist the poorer sections of backward classes in skill development and self-employment ventures.
Details of the Schemes as follows:
The following schemes are being implemented by the Corporation for the economic development of the backward classes.
- Schemes out of the budget of State Government.
- Chaitanya Subsidy cum soft Loan Scheme.
- Chaitanya Direct Loan Scheme.
- Micro Credit Loan Scheme.
- Arivu-Education Loan Scheme.
- Rehabilitation of Backward Classes families who were engaged in illicit distillation.
- Assistance to Sheep/Goat Rearing Activity and Wool weaving to persons belonging Kuruba Community
- Ganga Kalyana Individual/Community Irrigation Scheme.
- Assistance to Traditional Artisans & Occupational Groups.
- Interest free loan for Higher education in Foreign Universities.
Schemes out of financial assistance form National Backward Classes Finance and Development Corporation.
Term Loan Scheme.
- Mahila Samrudhi Scheme.
- Educational Loan.
- Swayam Sakshma Loan Scheme.
- Micro Finance Scheme.
- New Swarnima Scheme.
- Shilpa Sampada
- Krushi Sampada
Schemes out of the State Government budget.
Following schemes are being implemented by the Corporation out of share capital of Rs.3000.00 lakh and Rs.1000.00 lakh subsidy amount.
- Chaitanya Subsidy cum Soft Loan Scheme
Under this scheme, the Corporation extends loan to Backward Classes upto Rs. 5.00 lakh unit cost, to take up financial development activities in collaboration with Bank /Financial institutions.
The Corporation releases 30% or maximum of Rs.10,000/- subsidy for the project cost upto Rs. 25,000 and for the project cost of Rs. 25,001 to Rs. 1.00 lakh, the Corporation releases 20% margin money and subsidy of Rs.10,000/- per beneficiary. For the projects above Rs.1.00 lakh, the Corporation releases 20% Margin Money only. The Corporation charges 4% interest p.a. on margin money. The Bank will charge the interest at the prevailing lending rates of the Banks for their portion of loan.
- Chaitanya Self employment Direct loan:-
The Corporation is extending financial assistance upto Rs.50,000/- per beneficiary for self employment activities under business, service, and agricultural and allied activities. The amount includes 30% or maximum of Rs.10,000/-subsidy and remaining is loan amount at 4% interest per annum.
- Micro Credit Scheme:-
The Main objective of the scheme is to provide small financial assistance to skilled/unskilled persons belonging to backward classes who are below the poverty line. The activities like fruit, vegetable and flower vending, Tea stall etc will be assisted. The Corporation extends financial assistance of Rs.15,000/- per beneficiary including Rs. 5,000/- subsidy and Rs.10,000/- loan at 4% interest per annum.
- Arivu-Education Loan Scheme:
The Corporation is extending the financial assistance to the students upto a maximum of Rs.1.00 lakh per year for study in the courses like Medical, Dental, Engineering, MBA, MCA, M.Tech., L.L.B. etc., at 2% interest per annum.
- Interest Free loan for Higher education in foreign universities
The Corporation is sanctioning interest free loan upto Rs.3.50 lakh per year and a maximum of Rs.10.00 lakh for the course (for 3 years) to the students for higher studies like P.hd, MS, Post Doctoral in Foreign Universities.
- Rehabilitation of Backward Classes families who were engaged in illicit distillation:
Rehabilitation of Backward Classes families who were engaged in illicit distillation will be financially assisted to take up self employment.
- Assistance to Traditional Artisans & Occupational Groups
The main object of scheme is to upgrade the professional skill and technology of the traditional artisans and occupational groups belonging to Backward Classes. The Corporation provides them with financial assistance upto Rs.45,000/- in the form of loan and Rs.5,000/- as subsidy per artisan.
Kumbarike Development Activity
Kumbarike Development Mandali is established by the Government during 2010-11. The Corporation extends financial assistance of Rs.30,000/- per beneficiary. This includes Rs.5,000/- subsidy and Rs.25000/- loan at 4% interest to take up pottery development activities by Kumbara community.
- Ganga Kalyana Irrigation Scheme:
The Corporation provides irrigation facilities for the economic upliftment of small and marginal farmers belonging to backward classes.
Individual irrigation is being implemented to assist small and marginal farmers among category 1. 2A, 3A and 3B of the backward classes. The unit cost fixed for individual irrigation is Rs.2.00 lakh. Out of which Rs.1.50 lakh is subsidy and Rs.50,000/- is loan at 4% interest.
Community Irrigation: The Corporation is also implementing Community irrigation scheme for small and marginal farmers belonging to backward classes. The unit cost fixed is Rs.2.53 lakh to provide irrigation to 8 acres of land, Rs. 3.59 lakh to irrigate 15 acres of land. The cost includes drilling of borewells, supply of pumps and electric deposit of Rs.25,000/- to each borewells is also included.
- Assistance to Sheep/Goat Rearing Activity and Wool weaving to persons belonging Kuruba Community:Persons belonging to Kuruba community and engaged in sheep/goat rearing and wool weaving will be extend loan amount of Rs.1.00 lakh with 4% interest. It includes subsidy of Rs.10000/- per beneficiary.
Arivu Education Direct Loan Scheme: The Corporation is extending financial assistance to the students who are studying in the courses like Medical, Dental, Engineering, MBA, MCA, M.Tech., L.L.B. etc., upto a maximum loan of Rs.1.00 lakh per year at 2% interest.
Schemes with the Financial assistance of National Backward Classes Finance & Development Corporation (NBCFDC):
National Backward Classes Finance & Development Corporation is allocated Rs.2600.00lakhs to extend loan assistance to backward classes for taking up self employment activities. The Corporation is implementing Term loan, Education loan, Mahila Samruddhi scheme for empowerment of women, ShilpSampada, Krushi Sampada schemes out of loan given by NBCFDC.
D.Devaraj Urs Backward Classes Development Corporation Ltd,
Opp. Zilla Panchayath Office,
D.Devaraj Urs Backward Classes Development Corporation Ltd,