Impoverished by Covid-19, poverty-stricken minority communities who have never received any loan or subsidy from any of the corporation's projects, a short-term loan scheme for Minority Women in Karnataka, for initial investment of Rs 10,000 / -( Loan Rs.8000/- & Subsidy of Rs.2000/-) for small business, vegetable shop, Tea shop, fruits and flower business etc.. is proposed by the Government of Karnataka through Karnataka Minorities Development Corporation.

Eligibility Criteria

1) Applicant should be a woman who should be domicile of Karnataka state
2) Applicant should belong to minority community [Muslim, Christian, Jain, Buddhist, Sikh or Parsi]
3) Applicant should be AAY or BPL ration card holder. Only one application per ration card will be allowed
4) Applicant should have valid Aadhaar card in her name
5) Applicant should have a valid and operating bank account in her name.
6) Applicant should be between 25 to 50 years of age as on 1-June-2020
7) Family Income of applicant should be less than or equal to INR 1.2 lakhs per annum
8) Applicant should NOT have any previous loan taken from KMDC which is outstanding
9) Preference will be given if the applicant is a person with disability, or is a widow, or is from rural area
10) Only one application will be allowed to be made from one mobile number

Steps to Apply for Micro Loan

1. First step:

On the Corporation's website : https://kmdcmicro.karnataka.gov.in, the applicant has to register herself through her mobile number. When the loan application is filled online, a One Time Password (OTP) will be generated and will be sent to the Mobile Number of the beneficiary. A registration number is then forwarded to the mobile of the applicant. The Beneficiary then has to upload relevant documents, within the prescribed time. Two copies of the registered online application should be printed and retained by the applicant

Documents to be submitted when applying

1. Passport size photo
2. Aadhaar Card
3. Valid Income and Caste Certificate
4. AAY or BPL Ration Card
5. Bank Passbook
6. For Widow women - Widow Pension Scheme document / Husband's Death Certificate
7. For Physically Challenged Women - Disability Certificate

Application Submission and Sanction Process:

The applications submitted online will be selected automatically by the software based on the Gram Panchayat/TMC/CMC/Municipal Corporations according to the defined criteria.

2. Second Step:

On completion of the selection process, a message will be sent to the mobile number of the chosen beneficiary thus selected. Beneficiaries must log in again through the registered number already provided to them, download the sanction letter, loan documents, sign, scan and re-upload the signed documents.

After uploading the above documents, take a printout of the same and submit it to the District Manager, KMDC, the following signed documents submitted online in 2 stages

1. Loan application printout
2. Your KYC documents given in the application.
3. Sanction letter
4. Demand Promissory Note (DPN)

3. Third Step

The list of selected beneficiaries of the district will be sent by mail before the District Offices. Thereafter, the selected beneficiaries should submit the copy of above documents along with the original documents which are sealed by the respective District Managers as a mark of acceptance. Beneficiaries must keep this acknowledgment card with them.

Upon approval of the loan, the loan amount is immediately credited to the bank account of the selected beneficiary by NEFT transfer

Post Loan Sanction:

Micro loan moratorium period is only for 2 months. Excluding subsidy of Rs. 2000, the remaining amount of Rs.8000/- should be repaid with interest of 4 percent in 10 equal monthly installments of Rs.820/-.

In all respects, the decision of the managing director of the corporation is final.

- Managing Director

You can check the status of your application on the website

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