Sarkari Yojana
Annal Ambedkar Business Champions Scheme
About Annal Ambedkar Business Champions Scheme
The Department of Micro, Small and Medium Enterprises, Government of Tamil Nadu, introduced the scheme “Annal Ambedkar Business Champions Scheme (AABCS)”. The state government had observed that very few people from Scheduled Caste and Scheduled Tribe communities were making use of its entrepreneurship subsidies, and so launched this scheme to drive the economic progress of SC/ST entrepreneurs. It offers a 35% capital subsidy along with a 6% interest subvention on loans taken to buy machinery and equipment. The Micro, Small and Medium Enterprises Department will carry out the scheme through the Industries Commissioner and Director of Industries & Commerce (ICDIC), who will be supported with staff and other resources by FaMeTN, the Entrepreneurship Development and Innovation Institute and StartupTN. A State Level Steering Committee will be set up comprising the Secretaries of Finance, Micro, Small and Medium Enterprises, and Adi Dravidar and Tribal Welfare Departments, the Industries Commissioner and Director of Industries and Commerce, the Commissioner of Adi Dravidar Welfare and the Commissioner of Tribal Welfare. It will review the scheme every quarter and recommend changes where needed.
Scheme Overview
State Government
Micro, Small And Medium Enterprises Department , Government Of Tamil Nadu
Individual
01 Apr 2023
Scheme Details
Eligibility Requirements
To qualify for Annal Ambedkar Business Champions Scheme, applicants must satisfy the following conditions:
Applicants must reside in the State of Tamil…
Applicants must reside in the State of Tamil Nadu.
Beneficiaries must be members of SC/ST communities, and…
Beneficiaries must be members of SC/ST communities, and the supported enterprises must be fully (100%) owned by SC/ST persons. Any legal form permitted to do business for profit under current law, such as sole proprietorship, partnership or company, is acceptable.
Both fresh ventures and expansion of existing ventures…
Both fresh ventures and expansion of existing ventures can be supported.
Eligible enterprises may be manufacturing or service businesses
Eligible enterprises may be manufacturing or service businesses. Trading projects that exceed the assistance ceiling of the existing Unemployed Youth Employment Generation Programme (UYEGP) scheme are also included.
Beneficiaries can be up to 55 years of…
Beneficiaries can be up to 55 years of age.
No minimum educational qualification is prescribed
No minimum educational qualification is prescribed.
Beneficiaries are free to claim extra capital subsidy…
Beneficiaries are free to claim extra capital subsidy from schemes of agencies outside the control of the Government of Tamil Nadu, such as the Credit Linked Capital Subsidy Scheme (CLCSS) of the Union Government and schemes of the Coir Board, etc.,
Like the New Entrepreneur-cum- Enterprise Development Scheme (NEEDS),…
Like the New Entrepreneur-cum- Enterprise Development Scheme (NEEDS), all beneficiaries will receive Entrepreneurship Development Training from the Entrepreneurship Development and Innovation Institute. Note 01: Both new and existing entrepreneurs fall within the scheme. Note 02: Eligible Project Cost covers every capital investment, including land, plant, machinery, testing equipment and computing devices. Land cost may be counted when calculating subsidy but must not be more than 20% of the total project cost. Vehicles are counted in the project cost only where they are central to the business, for instance taxi and lorry operations, earth moving equipment, bore well drilling, and sanitary service equipment such as Jet Roding machines, etc., Note 03: The training is also open to prospective applicants or their wards whose subsidy applications are pending. For this, the scheme will also be dovetailed with existing government training programmes, including those of the Tamil Nadu Skill Development Corporation (TNSDC).
Benefits Provided
Annal Ambedkar Business Champions Scheme provides the following benefits to eligible applicants:
The State Government gives a capital subsidy of…
The State Government gives a capital subsidy of 35% on the Eligible Project Cost, subject to a ceiling of ₹1.5 Crore.
Loans sanctioned under the scheme carry a 6%…
Loans sanctioned under the scheme carry a 6% interest subvention. Note 01: The interest subvention applies to loans from scheduled Commercial Banks, Co-Operatives Banks, Tamil Nadu Industrial Investment Corporation and Non-Banking Financial Companies (NBFCs) over the loan tenure, up to a maximum of 10 years. Note 02: The sanctioned capital subsidy is released upfront as far as needed to meet the margin money requirement for the bank loan. Note 03: Working capital sanctioned for the project qualifies for interest subvention for up to 2 years.
Documents Required
Applicants should keep the following documents ready before starting the application:
Proof of identity, namely a copy of the…
Proof of identity, namely a copy of the Election ID Card/ Aadhaar card
Photocopy of the PAN Card
Photocopy of the PAN Card
A recent passport size photo
A recent passport size photo
Document showing age
Document showing age
Certificate of Caste/Community
Certificate of Caste/Community
Document proving residence
Document proving residence
Particulars of the bank account
Particulars of the bank account
Other documents, where needed
Other documents, where needed
2023-04-01
How to Apply
Online Application
Applicants can apply for Annal Ambedkar Business Champions Scheme through the online application process outlined below.
Applicants seeking a loan under the AABCS scheme…
Applicants seeking a loan under the AABCS scheme must apply online on the Official Website of the Micro, Small and Medium Enterprises Department, Government of Tamil Nadu.
Select “Apply Online” on the home page, followed…
Select “Apply Online” on the home page, followed by “New Application”.
Choose ‘Register’ and enter details such as Name,…
Choose ‘Register’ and enter details such as Name, Date of Birth, Email ID, Aadhaar Number & Mobile Number.
Once registered, select ‘login’ and complete all mandatory…
Once registered, select ‘login’ and complete all mandatory fields.
Upload the required documents and submit the form
Upload the required documents and submit the form. Guidelines on Dos and Don’ts for the Online Application
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.