financial assistance scheme in respect of seven Backward Classes Welfare Federations [Bank loans for BC group-A]

Backward Classes Welfare Department – A.P Backward Classes Cooperative Finance Corporation Limited, Hyderabad –
Implementation of financial assistance scheme in respect of seven Backward Classes Welfare Federations – Revised Orders – Issued – Regarding.

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BACKWARD CLASSES WELFARE (B3) DEPARTMENT

G.O..Rt.No. 68 Dated:16-02-2013.O R D E R:-

The Vice Chairman and Managing Director A.P .Backward Classes Cooperative Finance Corporation Limited vide reference 4th read above has submitted proposals for remittance of beneficiary contribution of Rs.4,000/- to the bank account by the beneficiary

himself or raising the loan from the bank along with his contribution of Rs.1,000/-. The subsidy amount of Rs.5,000/- will be released directly to the society member beneficiary’s account through e-payment mode.

2. In supersession of the G.O. read above, the Government after careful examination have decided to introduced a new pattern for implementation of financial assistance scheme in respect of the following Federations:-

1. A.P.Washermen Co-op Societies Federation Ltd.

2. A.P.Nayee Brahmins Co-op Societies Federation Ltd.

3. A.P.Vaddera Co-op Societies Federation Ltd.

4. A.P.Sagara (Uppara) Co-op Societies Federation Ltd.

5. A.P.Valmiki/Boya Co-op Societies Federation Ltd.

6. A.P.Krishna Baliji, Poosala Co-op Societies Federation Ltd.

7. A.P.Bhattraja Co-op Societies Federation Ltd.

3. The funding pattern for the implementation of financial assistance scheme in respect of above seven Federations is as shown in the table below:-

NEW PATTERN Unit Cost per group Per Group Per Member

Unit Cost Rs.1.50 Lakh Rs.10,000

Subsidy of 50 % Rs.75,000 Rs.5,000

Beneficiary contribution 10 % Rs.15,000 Rs.1,000

40 % of the unit cost either by

bank loan or to be remitted by Member beneficiary Rs.60,000 Rs.4,000  Rs.1,50,000 Rs.10,000

4. The following are guidelines for implementation of the above financial assistance scheme:-

1) Identification of the beneficiaries at the ground level;

2) Formation of members into a group or society. Generally the group consists of fifteen members as per the funding pattern issued by G.O.Rt.No.57, B.C. Welfare (B1) Dept., Dated: 06-10-2008

3) Affiliation of the Groups / Societies to the Federation with the approval of MD duly certifying such affiliation;

4) Completion of formalities including deposit i.e., Rs.4,000/- either by bank or by beneficiary himself and Rs.1,000/- as the beneficiary contribution by the member in his account at district level.

5) Release of subsidy amounts to the members of the Group/Society simultaneously direct to the beneficiary’s account through e-payment only after remittance of beneficiary contribution. The beneficiary account will be made nonoperative

and the subsidy amount of Rs.5,000/- will be released directly to the member beneficiary’s bank account through e-payments.

6) Disbursement of amount to member beneficiary:-

The Committee under the chairmanship of the District Collector and the Chairman District B.C Service Cooperative Societies Limited consisting of the following officers will clear non-operative account into operative account after submitting banker certificate about non-operative account and estimates/bills for the proposed

articles/tools for the total amount of Rs.10,000/- per member by the member.

The Committee:-

1. District Collector Chairman

2. Project Director DRDA Member

3. ED DSCSCS Limited Member

4. ED DBCSCS Limited Member-Convenor

5. DBCWO Member

The Committee will send the clearance list to the banker duly marking copy to the beneficiary.

7) Economic activities / self employment units:-

(1) Laundry Units

(2) Hair Dressing Saloons

(3) Band Sets

(4) Vaddera Tools

(5) Petty Trades like Vegetable vending, fruit selling, Kirana Shops, Tea Bunks, Stationary Shop/General Store, Milch Cattle, Tailoring etc. (The above list of activities are only indicative and not exhaustive).

5. The Vice Chairman and Managing Director, A.P .Backward Classes Cooperative Finance Corporation Limited and the Managing Director for the above seven Federations shall take further necessary action accordingly.