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MEETING OF STEERING
COMMITTEE TO SLBC OF AP
On 08.11.2004 (at 03.30 PM) in Mini Conference
Hall
Dr. Pattabhi Bhavan, Head Office Andhra
Bank, Saifabad Hyderabad
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ACTION POINTS
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S.No
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Point
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Action |
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1.
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Govt.
of AP proposes to launch Rajiv Yuva
Sakthi Programme, a credit linked scheme
for providing employment to Unemployed
Youth in the State.
Accordingly Action Plan is prepared
for the current financial year with
an out lay of Rs.300.00 crores, aimed
to benefit 50,000 unemployed youth.
The programme consists of three schemes
viz.
* Individual loan
* Group loan
* Petty Business (Individual) loan
Unit Costs:
1.Petty Business (Individuals):
Subsidy.,.30% subject to max of....
Rs: 7,500=00
Beneficiary contribution. 10%..........
Rs: 5,000=00
Bank Loan....60%...(or).............
. Rs: 37,500=00 (Maximum)
Maximum unit cost... .....Rs: 50,000=00
2. Individual Loan:
Subsidy...30% subject to max. Rs;30,000=00
Beneficiary contribution...10%... Rs;
10,000=00
Bank Loan.............60%...(or) Rs:
60,000=00(Maximum)
Maximum unit cost........ Rs: 1,00,000=00
3.Group Loan:
Subsidy 30% subject to max. Rs; 40,000=00
Beneficiary contribution 10% Rs: 30,000=00
Bank Loan...60%...(or) Rs: 2.30,000=00
(Maximum) Maximum unit cost... Rs:
3,00,000=00
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The
House has approved the scheme (The detailed
guidelines are enclosed) and distribution
of the targets among the districts.
The LDMs are to reallocate the targets
among Banks functioning in the districts
after approval of the same in DCC.
(Action: LDMs)
Banks are requested to initiate immediate
action, and issue necessary instructions
to their branches.
(Action: Banks)
The Govt. of AP desired that the scheme
should make a beginning in the current
year. Govt. have proposed to launch
the programme on 19.11.2004. A calendar
of action is enclosed. |
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2.
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Steering
Committee to SLBC has approved the scheme,
resolved the following modifications
/ suggestions;
a) Age of the applicant
b) Security norms
c) Minimum members in group:
d) Rate of interest:
e) Unit cost
f) Grounding
g) Subsidy
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Age of the applicant.... .......18 to
35 years.
Security norms as applicable to PMRY
i.e. No-Collateral Security is insisted
while sanctioning loans under the scheme.
But in case of individual loan scheme
guarantee of another person may be taken.
In case of group Loan - the group should
consist minimum of 5 (Five) members.
Interest as applicable - as per individual
Bank norms.
Unit cost as applicable to the proposed
scheme (to be assessed by the Bank branch
manager).
After receipt of the subsidy only, the
units will to be grounded by the Bank
branch.
The Subsidy is front ended (The Borrower's
contribution & subsidy to be disbursed
along with the loan amount proportionately).
The sanction and grounding is at the
sole discretion of the Branch Manager
and as per Bank guidelines. |
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3.
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Other
guidelines:
a) Identification of the beneficiary.
b) Initial consent and forwarding application
for subsidy:
c) Sanction of subsidy and release of
proceedings:
d) Time limit for grounding:
e) Coordinator at Mandal Level from
the Dept. of Youth Services
f) A Proposal for appointment of Educated
Un-employed youth as '"Mentors"
( Dept. of Youth services, Govt. of
A.P is requested to examine the above
proposal )
g) Interest subsidy:
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Other
guidelines:
At the identification the concerned
Bank- representative to be involved.
After initial consent for sanction
of the loan to a selected candidate
from the Bank Branch Manager, the filled
application for subsidy is to be forwarded
to the District Youth Welfare Officer
for sanction of subsidy.
The District Youth Welfare Officer will
release the subsidy proceedings along
with the cheque for the subsidy amount
to the concerned Bank branch.
With in 10 days time after receipt of
the subsidy, the unit is to be grounded.
At Mandal Level, the Mandal Youth Welfare
Officer (MYWO) will monitor the progress
and the MYWO should assist the Bank
branches in bringing the candidate to
the bank branch & for documentation
etc…
Dept. of Youth services may consider
appointment of Educated Un-employed
youth as: Mentor, on payment basis for
monitoring, recovery of loans under
the scheme and for submission of feedback
reports (Modalities to be worked out
by -the Dept. of Youth services... Govt.
of A.P in consultation with SLBC)
For every 100 accounts "One Mentor"
may be appointed i.e for 50,000 beneficiaries
500 mentors
The modalities /guidelines for administering
Interest subsidy ( as offered by the
Govt. of A.P to the groups @ 4% p.a),
will be communicated shortly after approval
by the Govt. |
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