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Scheme for Additional Interest Subsidy over and above RIPS 2024 and Reimbursement of Annual Credit Guarantee Fee

As per the MSME Policy 2024, it supports the establishment of new MSMEs and the expansion, diversification, or modernization of existing ones by offering interest subsidies and reimbursement of guarantee fees to ease access to finance and reduce the cost of credit.

Start date4 Dec 2024

End date / Deadline31 Mar 2029

Last verifiedToday

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About This Scheme

The "Scheme for Additional Interest Subsidy over and above RIPS 2024 and Reimbursement of Annual Credit Guarantee Fee" has been introduced under the Rajasthan MSME Policy 2024 by the Department of Industries and Commerce, Government of Rajasthan. Under this scheme, support will be provided to selected projects for establishment of new MSMEs or for expansion/ diversification/ modernization of existing MSMEs through the provisions given in the policy. The scheme will remain in force until 31st March 2029. Objective: The scheme’s objective is to create new employment opportunities for all sections of society in the state and to ease the establishment of enterprises in the state. The policy envisages supporting the creation of new MSMEs or the expansion/diversification/modernization of existing MSMEs through additional interest subsidies and collateral-free loans. Scheme Implementation: This scheme will be implemented through the respective District Industries & Commerce Centers in their districts under the aegis of the Department of Industries & Commerce. Office of the Commissioner, Industries & Commerce will be the nodal agency for the implementation and supervision of the scheme at the state level.

Benefits

Additional Interest Subsidy support over and above RIPS 2024 will be provided to eligible projects for establishment of new MSMEs or for expansion/ diversification/ modernization of existing MSMEs as per below:

Loan Amount for plant and machinery/equipment or apparatusInterest Subvention as per RIPS 2024Additional Interest Subvention under the schemeUp to INR 5 crores6%2%INR 5 crores-10 crores4%1%INR 10 crores-50 crores3%0.5%Note 1: The duration of the additional interest subsidy will be the same as prescribed under RIPS’2024 for MSMEs.

Note 2: Enterprises availing collateral free term loan for plant and machinery/ equipment or apparatus (for loan amount below INR 5 Cr. only) from Member Lending Institutions (MLIs) under CGTMSE will be eligible to avail assistance as reimbursement of 100% Annual Guarantee Fees paid to MLIs for the period of seven (7) years.

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Board Resolution/Power of attorney in the name of Authorized Signatory
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Udyam Registration Certificate (URC)
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Application made under RIPS 2024 along with the Project Report submitted
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Loan sanction letter, repayment schedule(s), and disbursal schedule (till date of production) from lending institution/bank(s)
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Certification confirming utilization of loan for purchase of plant and machinery/equipment or apparatus
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Copy of first bill of sale/supply
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Copy of Sanction/Approval Letter/EC issued for Interest Subvention under RIPS 2024
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Relevant certificates/documents confirming adherence to the eligibility criteria
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Undertaking/Declaration on non-judicial stamp paper as per Annexure 1.3

✦ Required ◦ Optional

How to Apply

IIn-person

Quick Info

Level: Central Government
Launched: 4 Dec 2024
Deadline: 31 Mar 2029