The scheme “Annal Ambedkar Business Champions Scheme (AABCS)” was launched by the Department of Micro, Small and Medium Enterprises, Government of Tamil Nadu.
The scheme “Annal Ambedkar Business Champions Scheme (AABCS)” was launched by the Department of Micro, Small and Medium Enterprises, Government of Tamil Nadu.
The scheme “Annal Ambedkar Business Champions Scheme (AABCS)” was launched by the Department of Micro, Small and Medium Enterprises, Government of Tamil Nadu. The Government of Tamil Nadu noted that the share of persons from Scheduled Caste and Scheduled Tribe communities who avail of various entrepreneurship promotion subsidies from the Government is very low. In order to promote the economic development of SC/ST entrepreneurs, this scheme has been launched by the Government of Tamil Nadu. The new scheme will provide a 35% capital subsidy and offer a 6% interest subvention for loans to procure machinery and equipment.
This scheme shall be implemented by the Micro, Small and Medium Enterprises Department through the Industries Commissioner and Director of Industries & Commerce (ICDIC). The Industries Commissioner and Director of Industries and Commerce shall be assisted by FaMeTN, Entrepreneurship Development and Innovation Institute, and StartupTN with manpower and other resources for implementing the Scheme.
A State Level Steering Committee for the scheme shall be constituted with the Secretaries of Finance, Micro, Small and Medium Enterprises, Adi Dravidar and Tribal Welfare Departments, Industries Commissioner and Director of Industries and Commerce, Commissioner of Adi Dravidar Welfare and Commissioner of Tribal Welfare. This Committee will review the scheme once a quarter and suggest necessary modifications, if necessary.
1. Under the scheme, the State Government will provide a 35% capital subsidy on the Eligible Project Cost, not exceeding ₹1.5 Crore.
1. A 6% interest subvention will be given for loans sanctioned under this scheme.
Note 01: Interest subvention will be given to loans sanctioned by scheduled Commercial Banks, Co-Operatives Banks, Tamil Nadu Industrial Investment Corporation, and Non-Banking Financial Companies (NBFCs) during the tenure of the loan not exceeding 10 years.
Note 02: The capital subsidy sanctioned will be provided frontend to the extent necessary to constitute margin money requirement for credit linkage.
Note 03: The working capital sanctioned for the project shall be eligible for interest subvention for a period not exceeding 2 years.
Step 1: Online — Step 01
The applicant willing to avail loan under the AABCS scheme should fill up the online application through the Official Website of the Micro, Small and Medium Enterprises Department, Government of Tamil Nadu.
Step 2: Online — Step 02
On the home page, click on “Apply Online” and then “New Application”.
Step 3: Online — Step 03
Click on ‘Register’ and fill in the details like Name, Date of Birth, Email ID, Aadhaar Number & Mobile Number.
Step 4: Online — Step 04
After successful registration, click on ‘login’ and fill in all the mandatory details.
Step 5: Online — Step 05
Upload all the necessary documents and submit the application form. Dos and Don’ts While Filing Online Application
The beneficiaries shall be persons belonging to SC/ST communities. Enterprises supported under the scheme shall be 100% owned by persons belonging to SC/STs. The enterprises may have any legal personality allowed to conduct business for profit as per prevailing laws which include sole proprietorship, partnership, and company.
The age limit for beneficiaries will be 55 years.
No, the applicant should be a resident of Tamil Nadu State.
No, there is no family income ceiling prescribed for assistance in setting up projects under this scheme.
The project costs include land, plant, machinery, testing equipment, and computing devices with the cost of land not exceeding 20% of the project cost. Vehicles shall be considered if it is integral to the business process.
Under the scheme, the State Government will provide a 35% capital subsidy on the Eligible Project Cost, not exceeding [?]1.5 Crore.
There shall be no minimum educational qualification for beneficiaries.
No, the scheme can support both new enterprises and the expansion of existing enterprises.
The eligible enterprises can be business enterprises in the areas of manufacturing and services. Trading-related projects which are above the threshold of assistance under the existing Unemployed Youth Employment Generation Programme (UYEGP) scheme will also be covered.
Yes, Entrepreneurship Development Training will be given to all beneficiaries by Entrepreneurship Development and Innovation Institute,
A 6% interest subvention will be given for loans sanctioned under this scheme.
The working capital sanctioned for the project shall be eligible for interest subvention for a period not exceeding 2 years.
A State Level Steering Committee for the scheme shall be constituted with the Secretaries of Finance, Micro, Small and Medium Enterprises, Adi Dravidar and Tribal Welfare Departments, Industries Commissioner and Director of Industries and Commerce, Commissioner of Adi Dravidar Welfare and Commissioner of Tribal Welfare. This Committee will review the scheme once a quarter and suggest necessary modifications, if necessary.
No bar on beneficiaries to claim additional capital subsidy from schemes operated by agencies not controlled by Govt. of Tamil Nadu
The applicant willing to avail loan under the AABCS scheme should fill up the online application through the Official Website of the Micro, Small and Medium Enterprises Department, Government of Tamil Nadu. https://msmeonline.tn.gov.in/aabcs/index.php
Applications are accepted only on the official government portal.
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