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CHIEF MINISTER'S SELF EMPLOYMENT SCHEME
FOR
EDUCATED UNEMPLOYED YOUTH
Chief Minister's Self -Employment scheme for providing
Self-Employment to Educated Unemployed Youth was announced by the Hon'ble Chief
minister on 23 March 2002 in his budget speech to provide self -employment
opportunities to educated unemployed youth in the State. The Scheme would be in
operation from June 2002.
1. OBJECTIVE
The Chief Minister's Self-Employment Scheme has been designed
to provide employment for setting up micro enterprise by the educated unemployed
youths. It relates to the setting up of self-employment ventures through service
and business routes. The Scheme also seeks to associate reputed non-governmental
organizations, panchayats, MLA, DC/DDO/SDM, SISI, SIDBI, Industries Agriculture,
Animal Husbandry Departments, Banks, etc in implementing of CMSE scheme in
setting up of the venture.
COVERAGE
The scheme is applicable to entire state.
ELIGIBILITY
Any unemployed educated person living in any part of the
State fulfilling the following conditions will be eligible for assistance.
a) Age : Between 22 to 35 years.
b) Qualification : Class X pass, ITI pass, Diploma holder, Graduate/Post
Graduate
c) Residency : The applicant should submit documents like copy of Sikkim
Subject/
Domicile Certificate/ Certificate of
Identification.
d) Employment Card : Xerox copy of Renewed Employment Card.
LOAN LIMIT
The maximum limit of loan will be as follows :
Level I
Graduates & equivalent, Post Graduates Rs. 1,00,000 /-
Level II
Class X Board Exam passed & above Rs. 50.000 /-
RATE OF INTEREST
The term loan shall be interest free for the first two years
for male and three years for female beneficiaries from the date of first
disbursement. Thereafter it shall bear interest @ 6% per annum and shall be
payable on half-yearly basis.
REPAYMENT SCHEDULE
Repayment schedule for principal installment would range from
4 to 5 years after an initial interest free period of 2/3 years as may be
applicable and payable on half-yearly basis. However, the loanee can make the
repayment before the due date.
GUARANTEE ON LOANS
The loan would require personal guarantee and one surety for
parent or guardian of Government employee or responsible member of the society
and assets created under the scheme would be hypothecated/pledged to the
Corporation.
SUBMISSION OF APPLICATION FORMS
The application forms duly filled in along with all relevant
documents are to be submitted to SIDICO.
DOCUMENTS REQUIRED
CMSES Loan application form along with 2-passport size photographs.
Xerox copy of Mark Sheets of Educational qualification.
Birth Certificate.
Sikkim Subject/Domicile Certificate/Certificate of Identification (any one)
Renewed Employment Card.
Affidavit duly attested by Magistrate.
One Surety from parent or guardian of Govt. employee or responsible members
of the society.
10. TRAINING AND PROJECT
REPORTS
The selected candidates have to undergo for one day
compulsory Livelihood Options Counseling Program (LOCP) and a training program
designed under the scheme.
11. DISBURSEMENT
On
successful completion of the training program, the loan will be disbursed by an
account payee cheque drawn on
the nearest
Branch of the Bank of residency.
FOR FURTHER DETAILS PLEASE CONTACT:
General Manager
SIDICO / Bhanupath, Gangtok
Phone : 223092,222637,229622
General Manager
SABCCO / Bhanupath Gangtok
Phone : 225318,229430
Dy. General Manager,
SIDICO, Jorethang Branch,
South Sikkim
Phone : 257628
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