Prerana (micro Credit Finance) Scheme

In order to encourage women from the Schedule caste community and economically empower them DR. BR Ambedkar Development Corporation has launched the Prerana scheme.
The objective of this program is to encourage women from urban and rural areas to set up self-help groups and help them to set up a productive business and turn them profitably. Financial assistance will be extended to the Scheduled Tribe women members of the Self-help groups to engage them in income-generating activities
Financial aid will be provided to a self-help group of ten women.
A joint account will be opened and a financial assistance of Rs. 2.50 Lakhs to income generating activities will be provided.
The corporation will pay each individual a sum of Rs. 25,000/- of which Rs. 15.000 will be a subsidy and Rs. 10.000 will be in the form of a loan.
Income generated by the self-help group shall be shared equally thus ensuring economic prosperity of all members of the group.

The loan together with interest @4% per annum has to be repaid by the SHG to the corporation in 36 monthly or 12 quarterly installments.

• Self Help Group (SHG).
• The applicant should belong to the Scheduled caste/Scheduled Tribe community.
• The applicant should be a resident of Karnataka.
• The applicant should be above 21 years of age.
• The family’s annual income should not exceed Rs. 1,50,000 for rural and Rs. 2,00,000 for Urban applicant.
• Applicant will be considered ineligible if they/their family member has earlier availed a subsidy from the Corporation/Government of Karnataka.
• The applicant should be a member or should avail membership of such self- help group.
• The self-help group seeking self-employment opportunity should possess a stall/unit with minimum of 200 sft (rent/lease/own).
• An agreement stating that the applicants will be a part of the self-help group, detailed description about their business activity and sharing of income generated should be submitted to the corporation. The grant and the loan component provided should be used as the primary source of finance.
• The selected candidate if at any stage is found ineligible such sanction from the corporation stands cancelled.