Scheme Name: Interest Subsidy

State: Madhya Pradesh

Description of the Scheme:

Within a period of one year from start of commercial operations, unit or financial institution lending term loan to unit shall submit an application for obtaining benefits.

Unit can submit claims for interest subsidy on a quarterly basis

Target group :

Sector of the Scheme:

Eligibility Criteria:

Nature & Mode of Assistance:

For IT/ITeS

Interest subsidy of 5% of term loan on interest recovered or actual rate charged by lender on term loan, whichever is lower.   Maximum   amount   that   unit   can   obtain   as reimbursement will be Rs.50 lakhs, over a period of seven years. Maximum amount that can be reimbursed in a year would be Rs.12 lakhs. This incentive is applicable for term loan, including foreign currency term loan. For ESDM units loan upto Rs.10 crores interest subsidy of 5% of term loan on interest recovered or actual rate charged by lender on term loan. Whichever is lower upto a loan amount of Rs.10 crores.
Maximum amount that can be reimbursed for any year would be Rs.50 lakhs
Maximum number of years for which this benefit can be given is five years.
Incentive is applicable for term loan, including foreign currency term loan.
For ESDM units loan beyond Rs.10 crores
For that portion of the loan beyond Rs.10 crores; interest loan beyond subsidy of 2% of term loan on interest recovered or the actual rate charged by lender on term loan, whichever is lower shall be applicable.
Maximum amount of re-imbursement that a unit shall be eligible for re-imbursement shall be Rs.3 crores per annum (including Rs.50 lakhs for term loan component of less than Rs.10 crores) for a period of five years.
Incentive is applicable for term loan, including foreign currency term loan.

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply: Application should be made to Managing Director, MPSEDC

Whom to Contact:

Managing Director MPSEDC Ltd.

State IT Centre, 47-A, Arera Hills, Bhopal-462011 Telephone : 755 2518300, 755 2518500