Jammu and Kashmir April 10, 2024: The Tejaswini Scheme also known as "The Radiant Customized Livelihood Generation Scheme" aims to empower young women in the region by providing financial assistance for setting up self-employment ventures. Here are the key details of the scheme:
Objectives:
1. Income Generation: The scheme encourages women to engage in income-generating activities, including manufacturing, service, trading, and small businesses.
2. Financial Assistance: It facilitates soft finance for establishing new enterprises or expanding/modernizing existing ones.
3. Acquisition of Assets: The scheme supports the acquisition of fixed assets such as plant machinery, equipment, furniture, and fixtures.
4. Working Capital: Women can access working capital for purchasing various products, equipment, and tools.
Eligibility Criteria:
- Female Domicile: Any female domicile of Jammu and Kashmir, registered with Mission Youth, is eligible.
- Women Entrepreneurs: Individual women or women-led enterprises (where women hold at least 50% financial ownership) qualify.
- Training Preference: Preference is given to women entrepreneurs trained in R-SETIs, Skill Development Institutions, or other training institutes.
- No Defaulters: Applicants should not be defaulters to any bank or financial institution.
- Age and Education: Women aged 18 to 35 years with a minimum qualification of 10th standard are eligible. Educational criteria may be relaxed based on justification.
- Unemployment: Beneficiaries must be unemployed and registered with the District Employment & Counseling Center (except as provided in specific cases).
- Income Criteria: No family income criteria apply.
- Previous Incentives: Units that have availed incentives or subsidies under other government schemes are not eligible.
- Interest-Free Repayment: Financial assistance provided under this scheme is interest-free.
Covered Activities:
The scheme supports various activities, including:
- Canteens and Restaurants
- Computerized Desktop Publishing
- Crèches
- Cyber Cafés
- Beauty Parlors
- Day Care Centers
- Laundry & Dry Cleaning
- Mobile Repairing
- Photocopying (Xerox) Centers
- Boutique/Tailoring
- Training Institutes
- Fitness Centers
- Yoga Centers
- Other profitable micro start-ups or small business units
Funding:
1. Eligible female entrepreneurs can avail financial assistance under Mudra loans from J&K Bank, up to Rs 5.00 lakh.
2. The Scheme Banking Partner extends loan facilities covering 100% of the project cost.
3. Mission Youth, J&K provides a special incentive (subsidy) of Rs. 50,000 or 10% of the project cost (whichever is minimum). This amount is adjusted towards monthly loan installments for the first six months.
4. The Bank assesses and provides finance, and Mission Youth is not responsible for any default by the beneficiary.
5. Prepayment/takeover by other banks/financial institutions is not allowed during the agreed loan tenure.
6. The Bank reports interest charged from beneficiaries at the end of each financial year.
The Tejaswini Scheme aims to empower young women, foster entrepreneurship, and create sustainable livelihoods in Jammu and Kashmir.
Interest Subsidy and Other Details
1. Interest Subsidy: At the end of each financial year, the Bank will provide case-wise details of interest charged from the beneficiaries who complete the prescribed tenure during that particular year. Mission Youth, J&K will then credit the amount equivalent to the interest paid by the beneficiaries to their respective Bank Accounts.
2. Limit on Interest Subsidy: The interest subsidy provided under the scheme is limited to an aggregate of Rs 0.60 lakh per beneficiary.
3. Documentary Proof: To avail the interest subsidy, beneficiaries must produce necessary documents (such as bank statements, income tax statements, or certificates by DLIC) that testify to the sustainability of their activity.
4. Self Assistance Utilization: The self-assistance provided by Mission Youth (MY) must be compulsorily utilized for self-employment generation.
5. Project Cost: If the total project cost of the self-employment unit exceeds Rs 5.00 lakh, the additional amount must be self-financed by the applicant.
Procedure for Application and Approval
1. Application Process:
- Mission Youth, J&K will invite online applications from interested female youth in J&K.
- Applicants will submit their applications digitally through a specific module developed on the JK e-Governance platform.
2. Committee Review:
- Applications received at the district level will be placed before a committee comprising the following officers:
- Deputy Commissioner (Concerned)
- General Manager, DIC (Concerned)
- Deputy Director/Assistant Director Employment (District-level Nodal Officer)
- District Social Welfare Officer
- District Level representative of EDI
3. Loan Disbursement:
- The District Lead Bank Officer will ensure processing and disbursement of the loan amount within 15 days after approval by DLIC.
4. Indemnity Bond:
- Beneficiaries selected for financial assistance must furnish an indemnity bond attested by a First Class Judicial Magistrate.
- The bond states that the beneficiary will not take up any job in government, public/private sectors without repaying the loan in full.
- It also confirms that the beneficiary has not previously availed financial assistance for self-employment under any government scheme.
5. Default and Legal Proceedings:
- In case of default in loan repayment, the Bank will recover the balance amount as per existing procedures.
- Mission Youth's contribution will be refunded proportionately.
- If a beneficiary deviates from the intended purpose, legal proceedings may be initiated against them.
Other Terms and Conditions
1. CEO's Authority: The Chief Executive Officer of Mission Youth has the authority to issue clarifications or modifications to the scheme guidelines on a case-by-case basis.
2. Banking Partner: Jammu & Kashmir Bank or any other bank decided by Mission Youth will be the scheme's banking partner.
3. Insurance Requirement: The established unit under the scheme must be insured by the beneficiary.
4. DPR Submission: Beneficiaries must submit a Detailed Project Report (DPR) from a consultant duly empaneled by a government department or relevant agency connected with entrepreneurship.
Monitoring and Evaluation and Appraisal
1. Monitoring Mechanism:
- The scheme will be closely monitored to ensure its functional efficacy.
- A team of officers will conduct post-sanction monitoring of cases. The team includes:
- District Evaluation and Statistics Officer (concerned)
- Senior-most Female CDPO of the District
- Representative from Women Development Corporation
2. Frequency of Monitoring:
- Monitoring typically occurs quarterly.
- If the Chief Executive Officer, Mission Youth, J&K deems immediate monitoring necessary, steps will be taken to organize it, regardless of the usual time limit.
- Appropriate officers or agencies may be requested to facilitate monitoring.
3. Corrective Measures:
- The district-level monitoring committee will submit reports to Mission Youth, J&K, suggesting corrective actions when needed.
4. Scheme Review and Evaluation:
- Mission Youth will periodically review the scheme's implementation.
- Detailed evaluations will be conducted through the Directorate of Economics & Statistics, J&K (or other relevant agencies) as deemed appropriate.
- Necessary improvements will be made to the scheme as required.
Saving Clause
- In case of any clarifications or difficulties during implementation, suitable clarifications will be issued by the Office of the Chief Executive Officer, Mission Youth, J&K.
The Tejaswini Scheme aims to empower young women by fostering entrepreneurship and sustainable livelihoods in Jammu and Kashmir.
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