Tag: Scheme

Telangana budget: Shaadi Mubarak Scheme allocation increased to 450 crores

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Hyderabad: The Telangana government has allocated Rs 450 crore for Shaadi Mubarak Scheme in the annual budget for 2023-24, increasing the amount by Rs 150 crore over the previous year, which is a commendable move, however there are several complaints of delay in release of funds.
A large number of complaints received from married couple who are awaiting Shaadi Mubarak funds even after childbirth, that needs to be addressed. Poor parents who have taken loans for the marriages of their loved ones are filing applications on a large scale to avail the Shaadi Mubarak Scheme benefits. Most of the parents have taken a loan on huge interest rates for the marriages purpose and due to the delay the interest on loan is been adding up with each passing day. The government, Minority Welfare Department and the concerned authorities need to address these issues immediately.
Apart from Hyderabad city, thousands of applications are pending in the districts, there is a need to set up a special mechanism for their speedy resolution, so that the problems of poor parents can be resolved immediately.
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( With inputs from www.siasat.com )

February 8, 2023
J&K Bank Consumer Loan Scheme Check Eligibility
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- Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies.
- Employees on contractual basis with Central/State Govt, Government/Semi-Government Undertakings& Autonomous bodies shall be eligible, if they have been in current contractual job for a period not less than I year and the remaining contract period is longer than the chosen repayment period.
- Teachers under Rehaber-a-Taleem, J&K Govt.
- Officials under Rehaber-a Zeerat, J&K Govt.
- Pensioners both State/Central drawing their monthly salaries/pension through our bank.
- Employees of Private Limited Companies, Private Organizations, Reputed Establishments having a minimum 1 year relationship with our bank (Assets or liabilities).
- Professionals, self-employed individuals (Businessmen included) & Proprietorship Concerns, having a minimum 1 year relationship with our bank (Assets or liabilities)
- Finance under this Scheme shall also be provided to regular teachers of recognized private schools (must be permanent residents of Union Territories of J&K and Ladakh).
NOTE:Employees on Adhoc basis shall not be eligible.
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( With inputs from : kashmirpublication.in )
February 6, 2023
JK Bank Coaching Fee Loan Scheme Check Eligibility
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NATURE OF FACILITY
Term Loan
PURPOSE
Financing fees of coaching classes or institutes that train students for entrance examinations to courses like medicine, engineering and civil services etc. and for other related expenses like lodging / boarding, purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials.
CLASSIFICATION
Priority.
ELIGIBILITY
Student should be an Indian National and should have completed Class X or above aspiring for admission in Engineering, MBBS, MBA, Post-Graduation courses etc.
Students pursuing graduation/post-graduation course or employed individuals, desirous of competing for Civil Service Exam of UPSC / State Public Service Commission for employment in IAS, KAS, IPS, KPS etc.
The students should have secured a minimum of 55% marks in the previous qualifying exam.
Age not exceeding the maximum for targeted competitive exam
Parent/Guardian only borrower, if age of the student is below 18 years.
Parent/Guardian, jointly with the student if age of the student is 18 years or above.
BORROWER ELIGIBILITY
Permanent Employees of State / Central Government, Government / Semi-Government Undertakings, Autonomous Bodies, Public Limited Companies / Private Limited Companies who have been in current employment for a period of not less than two years.
Professionals, Self Employed Individuals ,Proprietorship Concerns, Persons engaged in agricultural and allied activities having at least one year satisfactory dealing with J&K Bank.
Pensioners State/Central Government, Public Sector Undertaking.
BORROWER’S AGE
Maximum age of Parent/Guardian at loan maturity: 65 years or age of retirement whichever is earlier.
If Parent/Guardian is a pensioner maximum age at loan maturity: 68 years
MAXIMUM LOAN:
Rs. 2 Lakh per child for coaching studies in India.
Maximum Amount per parent/guardian- Rs.4 Lakh only.

Finance for purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials should not exceed Rs. 40,000/= per student within the overall limit of Rs. 2.00 Lakh.
QUANTUM OF FINANCE
For Permanent Employees / Pensioners: Maximum 18 times of gross monthly salary / pension/ income or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower.
For Other Eligible Categories: 1.5 times of average gross annual income of last two years or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower
PROCESSING CHARGES
Rs. 250
MARGIN
10% of the coaching fee (which may include boarding & lodging expenses if available in-house).
25% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials
SECURITY
Primary : NIL
Collateral: Third Party Guarantee of One person.
In case of pensioners, guarantee of one person & guarantee of Spouse eligible for family pension shall be obtained.
No third party guarantee required in respect of permanent employees of State – UT and Central Government, State–UT / Central Government Undertakings & Autonomous bodies drawing salary through our Bank and where letter of undertaking from employer is available.
RATE OF INTEREST (SUBJECT TO CHANGE)
RLLR + 2% Floating
Click here for rate of Interest
REPAYMENT
36 months including moratorium period of 3 months.
The post JK Bank Coaching Fee Loan Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
February 6, 2023
J&K Bank Commercial Vehicle Finance scheme

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For purchase of fresh commercial vehicles or new chassis and/or fabrication for commercial purpose or for captive use. The commercial vehicles will include passenger buses, trucks, tippers, oil and gas tankers taxis, mini buses, light commercial vehicles, tempo, auto rickshaws and any other mode of transportation under public carrier permit. The vehicles should be of approved models/makes.
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( With inputs from : kashmirpublication.in )

February 6, 2023
JK Bank Solar Inverter Finance Scheme Check Eligibility
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PURPOSE
For Purchase & Installation Of Off-Grid Solar Lighting & Photo –Voltaic Systems (Solar Inverters). The Finance Shall Be Granted For The Purchase Of The System From Authorized Dealers Of Reputed Companies.
ELIGIBILITY
Confirmed Employees of: Government /Semi-Government Departments/Bodies/Agencies & Public Sector Undertakings.
Permanent Employees of Private Companies or Reputed Establishments with minimum 2 years association with the Current Employer and maintaining salary account with us.
Professionals, Self Employed Individuals & Businessmen with at least 2 years of experience in profession/business
Retired Govt. Employees with age not more than 70 years on maturity of loan.
Persons engaged in agricultural and allied activities.
QUANTUM OF FINANCE
Individuals: 12 times net monthly salary/ pension / income.
Persons engaged in agricultural and allied activities: Maximum of 2 times net annual income as certified by concerned Tehsildar.
The maximum quantum of finance shall not exceed Rs 50000.00
MARGIN
Nil
SECURITY
Primary
Nil
Collateral
Nil for Employees of J&K State Govt. / Central Govt. / Semi Govt. Departments/ Bodies/ Agencies and PSU’s maintaining salary accounts with our Bank.
For others- Third Party Guarantee of ONE person acceptable to Bank and having sufficient net worth to withstand the liability.
PROCESSING CHARGES
Rs. 500.00 plus applicable GST.
RATE OF INTEREST (SUBJECT TO CHANGE)
Fixed rate of interest @ 3 year MCLR plus 3 % with monthly rests.
Click here for rate of Interest
TENOR
Maximum Tenor of Loan shall not exceed 36 months.
The post JK Bank Solar Inverter Finance Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
February 4, 2023
JK Bank Housing Loan Scheme Check Eligibility
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Purchase/Construction:
Primary:
Purchase/Construction:
- Equitable/ Registered Mortgage of house property/flat to be constructed/ purchased. (House property to include land underneath & appurtenant thereto in case independent house only).
- The title of the property must be clear, marketable and free from encumbrance.
- Where mortgage of house /flat cannot be created immediately and / or possession of house / flat is not given in situations like house/flat or under construction house / flat or to be constructed house/ flat is being purchased/ from the Housing Board/ Co-operative Society / Development Authority/ Construction Company/ Builder and title/conveyance deed is executed in favour of purchaser only after completion of full or partial construction after purchaser making full payment of the cost of house/flat, a tripartite agreement shall be executed amongst the
1) Housing Board/ Development authority / Co-operative Society/ Construction Company/ Builder,
2) The Borrower and
3) The Bank wherein the Housing Board/ Development Authority / Co-operative Society/ Construction Company/ Builder undertakes that the title to house/ flat shall be transferred to the Borrower immediately on receipt of entire sale consideration and the Bank’s lien shall also be marked in their/ his records, thereafter to be followed by execution of mortgage deed in favour of the Bank once the project has been completed and Sale Deed (Deed of apartment/Conveyance Deed in case of Flats) has been executed. Charge to be registered in favour of the Bank with the concerned authorities. Besides tripartite agreement an affidavit cum undertaking from the Housing Board/ Development Authority / Co-operative Society/ Construction Company/ Builder to the effect that the construction shall be as per the sanctioned plan & building bye laws, to be obtained.
Repairs/Additions/Alterations/Extension of existing houses:
- Equitable/ Registered Mortgage of house property/flat to be repaired / renovated. (House property to include land underneath & appurtenant thereto in case independent house only).
Collateral:
- No collateral security /3rd party guarantee is required in all cases except in case of following:
  Pensioners- guarantee of spouse / Legal Heir(s), who is / are entitled for family pension.
  NRIs- 3rd party guarantee of two resident Indians of sufficient means to cover the liability apart from the other securities shall be obtained.
  Loans upto Rs.5.00 lacs (Rs.10.00 lacs in case of employees Goverenment of UT of J & K and UT of Ladakh) to be granted for the purpose of repairs/ additions/alterations /extension of existing houses, where the mortgage of the house property is not taken as security.
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( With inputs from : kashmirpublication.in )
February 4, 2023
JK Bank Fixed Deposit Scheme Check Benefits and Features
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FIXED DEPOSIT RECEIPT (FDR)
Non-cumulative term deposit where simple interest is paid on quarterly basis.
ELIGIBILITY
Resident Individuals (sole or joint account)
Hindu Undivided Families.
Minor through parents/guardian.
Sole Proprietorship Concerns, Partnership Firms
Private and Public Limited Companies
Associations, Clubs, Societies, Trusts etc.
FEATURES & BENEFITS
Deposit Amount:Rs. 100/- and above.
Tenure: 7 days to 10 years.
Interest rate: Fixed.
Interest application: Simple Interest.
Interest payouts: Quarterly.
Add-ons: Loan facility available.
Premature withdrawal: Allowed with penalty.
Interest on premature withdrawal will be paid at 0.50% below the rate applicable for the period the deposit remained with the bank, provided the deposit has remained with the bank for at least 7 days.
However, no interest will be paid on Deposits which remain for a period of less than 7 days.
DOCUMENTATION
Filled in Application Form.
Photograph of depositor/s (2 copies)
Officially Valid Documents as per KYC Norms
PAN Card or Form 60 or 61
Any other related documents as applicable to Minors, Partnership Firms, Companies, HUF’s etc
Interest on premature withdrawal will be paid at 0.50% below the rate applicable for the period the deposit remained with the bank, provided the deposit has remained with the bank for at least 7 days.
However, no interest will be paid on Deposits which remain for a period of less than 7 days.
RATE OF INTEREST (SUBJECT TO CHANGE)
Click here for rate of Interest
TDS
TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
FAQS
What is the eligibility for opening an account under Fixed Deposit Scheme of J&K Bank?
Fixed Deposit accounts can be opened by individuals , either singly or jointly, Parents/ Guardians on behalf of minors, Sole proprietorship firms, Partnership firms, Private and Public Limited Companies , HUFs, Associations, Societies, Trusts, etc.
What is the minimum amount required for opening account under the Fixed Deposit Scheme?
You can open an account under this scheme with an amount of Rs 100 and above.
What are the tenures for which the accounts can be opened?
You can open an account for any tenure ranging from 7 days to 10 years.
Is interest under this scheme applied on Simple or Compound basis?
Simple interest is provided under this scheme.
Is loan facility available against the deposit amount?
Loan facility is available.
Can I withdraw my deposit prematurely?
Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.
What is the frequency of interest paid in this scheme?
Interest is paid at quarterly rests.
The post JK Bank Fixed Deposit Scheme Check Benefits and Features appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
February 4, 2023
Implement residential education scheme for SC students: SED to CBSE affiliated schools

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Srinagar, Feb 02: The School Education Department has directed the Central Board of Secondary Education (CBSE) affiliated schools of Kashmir division to implement a residential education scheme for Schedule Caste (SC) students from academic year 2022-23.
Director of School Education Kashmir (DSEK) said that the department of Social Justice and Empowerment for Government of India (GoI) is implementing the Scheme of Residential Education for Students in High Schools in Targeted Areas (SHRESTHA) from the academic year 2022-23.
According to the news agency—Kashmir News Observer (KNO), DSEK said, “The programme provides opportunities for meritorious Scheduled Caste (SC) boys and girls to study in the best residential schools in the country. The scheme is being implemented from the academic year 2022-23.”
In a communiqué to principals of CBSE schools, DSEK said, “Every year, the best CBSE schools with residential facilities would be selected for the scheme and each selected school is expected to provide admission for at least ten meritorious SC Boys and Girls selected through the National Entrance Test.”
According to the official communiqué, the entry for students would be in class 9 and 11 for completion of education up to class 12.
“The selection of the students would be done through the National Entrance Test for SHRESHTA (NETS) conducted by the National Testing Agency (NTA),” it reads.
The DSEK communiqué further states that every year, 3000 students would be provided fresh admissions under the scheme. “Allocation of schools would be done by web counseling process giving choices to the students and allocating the seats as per merit.”
“The cost of education of the students will be borne by the Government by directly transferring the money to the school electronically. Apart from this, there would be separate grants for conducting bridge courses if needed for the students,” DSEK said.

It also said that for the year 2023-24, it is expected that the National Entrance Test for SHRESHTA (NETS) would be conducted in April 2023.
“As such, principals are requested to help in implementation of the scheme in CBSE affiliated schools as per the contents of the guidelines of the scheme so that SC boys and girls can be benefited under this Scheme,” it reads—(KNO)
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#Implement #residential #education #scheme #students #SED #CBSE #affiliated #schools
( With inputs from : roshankashmir.net )

February 2, 2023
JK Grameen Bank Dairy Loan Scheme Check Eligibility

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JK Grameen Bank Dairy Loan Scheme Check Eligibility and Rate of Interest

Objective:
» Enhance production and marketing of clean milk.
» Capacity building of farmers for undertaking dairy farming as commercial activity.
» Increase income of dairy farmers through value addition.
» Promoting use of appropriate scientific technology in dairy farming.
» Provision for infrastructure like animal shed, bulk coolers, etc.
» Promotion of dairy farming on a more commercial scale by up-scaling the number of commercial farms.
» Increasing the average cattle farm size with the farmers so as to reduce cost on material inputs.
» Encouraging good functional SHGs to take up dairy farming activity.
» Increase employment opportunities for the rural unemployed youth.
Eligibility
» Individuals living within the operational area of the branch. Preference be given to the Women beneficiaries & the ex-servicemen drawing pension through our Bank;
» The Farmers, Self Help Groups, Joint Farmers Groups are eligible to avail loan under the Scheme; &
» The identified beneficiaries should have necessary skill/ training to manage the dairy unit.
Age Criteria
Minimum: 18 years at the time of loan application; &
Maximum: 70 years at the time of loan maturity.
Unit Size
Minimum Two to Maximum Ten milch animals.

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Margin
For Loans upto Rs.4.00 lakh: 10%
For Loans above Rs.4.00 lakh: 20%
Security:
For loans up to Rs.3.00 lakh
Primary: Hypothecation of animals to be purchased and misc. fixed assets.
Collateral:
1. Two third party guarantees of sufficient net means acceptable to the bank.
2. Negative Lien of immovable property (including the shed to be constructed with land underneath) not less than the loan amount
For loans above Rs.3.00 lakh
Primary: Hypothecation of animals to be purchased and misc. fixed assets.
Collateral:
1. Guarantee of two persons having sound financial net means, good for loan amount and acceptable to the bank.
2. Mortgage of immovable property (including the shed to be constructed with land underneath) not less than the loan amount.
Repayment Period
The repayment period has been fixed as 6 years. The loan will be recovered in 69 equal monthly installments starting after initial gestation period of three months from the purchase of 1st lot of animals.
Processing Charges : 0.25% of the Loan Amount * Conditions Apply
Gestation Period – 3 months

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( With inputs from : kashmirpublication.in )

February 2, 2023
JK Bank Karobar Card Scheme Check Features and Benefits
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PURPOSE
To increase the flow of credit to individuals for entrepreneurial activity in the non-farm sector.
NATURE OF FACILITY
Both working capital and term loan.
ELIGIBILITY
Individuals engaged in the entrepreneurial activity in the non-farm sector, , which is eligible for classification under the priority sector guidelines
Loan facility under General Credit Card (GCC) should, however, not be extended to ACC, WCC borrowers.
The borrowers should not have been loan defaulter at any bank/ branch.
QUANTUM OF FINANCE
Maximum of 1.00 lacs.
REPAYMENT
Maximum: 60 months including maximum moratorium period of 03 months.
CLASSIFICATION
Micro Enterprise.
MARGIN
Upto 50,000: No margin is required for loans.
Above 50,000 and upto 1.00 lac: 10%.

For working capital: 20%.
SECURITY
PRIMARY: Hypothecation of all the assets financed.
COLLATERAL: Nil.

RATE OF INTEREST (SUBJECT TO CHANGE)
RLLR+1.00%
Click here for rate of Interest
The post JK Bank Karobar Card Scheme Check Features and Benefits appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
February 2, 2023

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Tag: Scheme

NATURE OF FACILITY

PURPOSE

CLASSIFICATION

ELIGIBILITY

BORROWER ELIGIBILITY

BORROWER’S AGE

MAXIMUM LOAN:

QUANTUM OF FINANCE

PROCESSING CHARGES

MARGIN

SECURITY

RATE OF INTEREST (SUBJECT TO CHANGE)

REPAYMENT

PURPOSE

ELIGIBILITY

QUANTUM OF FINANCE

MARGIN

SECURITY

PROCESSING CHARGES

RATE OF INTEREST (SUBJECT TO CHANGE)

TENOR

FIXED DEPOSIT RECEIPT (FDR)

ELIGIBILITY

FEATURES & BENEFITS

DOCUMENTATION

RATE OF INTEREST (SUBJECT TO CHANGE)

TDS

FAQS

JK Grameen Bank Dairy Loan Scheme Check Eligibility and Rate of Interest

Objective:

Eligibility

Age Criteria

Unit Size

Margin

Security:

Repayment Period

Gestation Period – 3 months

PURPOSE

NATURE OF FACILITY

ELIGIBILITY

QUANTUM OF FINANCE

REPAYMENT

CLASSIFICATION

MARGIN

SECURITY

RATE OF INTEREST (SUBJECT TO CHANGE)