CHIEF MINISTER’S MICRO FINANCE INITIATIVE
To encourage credit for carrying out economic activities, an omnibus scheme under the nomenclature ‘CM’s Micro Finance Initiative’ is being launched by the Government of Nagaland.
Under this Scheme, subsidy and interest subvention against identified activities in the agriculture & allied sector including processing units, MSME etc. will be provided to eligible beneficiaries.
Eligible Beneficiaries
- Farmers
- Entrepreneurs
- Unemployed Youths
- Self Help Groups
- Farmers’ Producers Organisations
- Co-operative Societies
Our Objective
To increase farmer’s income, encourage self-employment and entrepreneurship development, inculcate a sense of credit discipline, boost private enterprise and improve the agri marketing network and infrastructure in our State.
Eligible Schemes
Construction of Circular Eco-hatchery, Rejuvenation of Animal Husbandry (dairy, piggery, goat, poultry, duckery), Integrated Farming System, Zero Energy Cold Storage, Solar Cold Storage, Procurement of Transport Vehicle for agriculture products (Refrigerated and Non-Refrigerated), Post-Harvest processing Units, Value Addition units for Multi Horticulture product, Micro Finance Scheme for Micro-enterprises (Hostel, Vocational Training Institute, Logistics & Mobile Food Services, Gym/Fitness Centre, Home Stays).
Eligible Beneficiaries
Farmers, Entrepreneurs, unemployed youths, Self Help Groups, Farmers’ Producers Organisations and Co-operative Societies.
How & Where to Apply
Interested persons may apply to the District Level Implementation cum Monitoring Committee (DLIMC) headed by the Deputy Commissioner of the concerned District.
Applications received will be scrutinized and shortlisted by a Screening Committee, comprising of the subject matter specialists, from the various line departments including banks.
Necessary technical support and guidance will be provided by the Department of Agriculture, Horticulture, Veterinary and Animal Husbandry, Fisheries, Industries & Commerce and Nagaland State Rural Livelihood Mission
| Sl No. | Particulars | Project Cost |
|---|---|---|
| 1 | Beneficiary Contribution | 10% |
| 2 | Bank Loan | 60% |
| 3 | Back ended Subsidy by the Government of Nagaland | 30% |
The State Government will provide Interest subvention of 4% to KCC loans and credit linkage to farmers, over and above the 3% provided by the Government of India on prompt repayment of dues by the borrower
Moratorium period upto maximum of 6 months
Repayment period upto maximum of 7 years.
Maximum ceiling admissible under this scheme will be ₹ 15.00 Lakhs
Monitoring
A State Level Implementation-cum-Monitoring Committee (SLIMC) headed by the Chief Secretary will monitor the implementation of the Scheme and make necessary policy rectifications as and when required.
The District Level Implementation-cum-Monitoring Committee (DLIMC) headed by the Deputy Commissioner will select the beneficiaries and monitor the progress of the project for successful implementation of the Scheme.
Downloads
Application Form Downloads
Annexure VII
Application format for Project Proposal for individual/SHG/FPO
Application Form
For Eco-Carp Hatchery
Booklet
Chief Minister's Mirco Finance Inititiave Booklet