Below mentioned are the eligible entities that can avail loans under the DIC scheme:
District Industries Centers
District Industry Center (DIC) under the Directorate of Industries and Commerce offers a subsidy loan scheme for young professionals underthe guidance of the Ministry of Social Justice and Empowerment. Established in 1978, District Industries Centers’ program was initiated by the Central Government to promote tiny, cottage, village, and Small Scale Industries (SSIs) in smaller towns and their particular areas to make them available with all the basic needs, services, and facilities. DIC’s primary focus is to generate employment in rural regions of India. District Industries Centers are managed and operated at the district level to provide all the necessary support services to entrepreneurs or first-time business owners to start their own MSMEs. DICs also promote the Registration and Development of Industrial Cooperatives....
District Industry Center (DIC) under the Directorate of Industries and Commerce offers a subsidy loan scheme for young professionals under the guidance of the Ministry of Social Justice and Empowerment. Established in 1978, District Industries Centers’ program was initiated by the Central Government to promote tiny, cottage, village, and Small Scale Industries (SSIs) in smaller towns and their particular areas to make them available with all the basic needs, services, and facilities. DIC’s primary focus is to generate employment in rural regions of India. District Industries Centers are managed and operated at the district level to provide all the necessary support services to entrepreneurs or first-time business owners to start their own MSMEs. DICs also promote the Registration and Development of Industrial Cooperatives.
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Eligible Entities
Business Loans offered by various Govt. Corporations
a) National Schedules Caste Finance & Development Corporation (NSCFDC)
NSFDC offers term loan for project(s)/unit(s) costing up to Rs. 50 lakh.
Term Loan Details:
| Interest Rate for Beneficiaries | Based on the loan amount (6%-10% p.a.)* |
| Unit Amount | Up to Rs. 50 lakh |
| Loan amount | Up to 95% of the project cost |
| Repayment tenure | Up to 10 years |
| Moratorium Period | 6 months to 12 months, depending on business activity |
*Note: Above mentioned rates of interest are not on slab basis.
b) National Safai Karamcharis Finance & Development Corporation (NSKFDC)
Loan Details:
| Interest Rate for Beneficiaries | 6% p.a. (Beneficiary) & 3% p.a. (SCA)* |
| Unit Amount | Up to Rs. 15 lakh |
| Loan amount/Project Cost | Up to 90% of the unit cost, rest 10% shall be provided by State Channelising Agencies (SCA) |
| Repayment tenure | Up to 10 years, implementation period up to 4 months |
| Promoter’s contribution | Up to 10%, not insisted up to Rs. 2 lakh |
| Moratorium Period | 6 months from date of loan disbursement |
*State Channelising Agencies
c) National Backward Caste Finance & Development Corporation (NBCFDC)
Under this loan scheme, funding can be used for various income-generating activities that include Agriculture and Allied Activities, Small Business/Artisan & Traditional Occupation, Transport Sector & Service Sector, and Technical & Professional Trades/Courses.
Members of Backward Classes, as notified by Central Government/State Governments with maximum annual family income up to Rs. 3.00 lakh are eligible.
Term Loan Details:
| Interest Rate |
|
| Loan amount | Up to Rs. 15 lakh per Beneficiary |
| Repayment tenure | Up to 8 years, 6 months moratorium |
| Project Cost | 85% NBCFDC Loan and 15% Channel Partner/Beneficiary Share |
d) National Physically Challenged Finance & Development Corporation (NPCFDC)
Vishesh Microfinance Yojana (VMY)
Loan Details:
| Interest Rate |
|
| Loan amount | Up to 90% of Project Cost, rest 10% to be contributed by Implementing Agencies |
| Repayment tenure | Up to 3 years, Moratorium period of 3 months |
| Promoter’s contribution | Up to 10% |
Note: All above-mentioned interest rates are subject to change and depend on the sole discretion of the Ministry and RBI.
Functions of the District Industry Center (DIC)
DIC’s key functions include the following:
The functioning of DICs and their achievement is monitored by the Additional Chief Secretary (Industries) and Director Of Industries & Commerce. Approximately, there are 14 District Industries Centers (DICs), one each in the 14 districts of the state.
The Government of India offers financial assistance for District Industries Centre in the following ways:
| Type and Purpose of Expenses | Construction of Office Building | Meeting Office Expenditure | Actual Expenditure |
|---|---|---|---|
| Non-recurring grant | Up to Rs. 2 lakh | Up to Rs. 3 lakh | NA |
| Recurring Establishment | NA | NA | Up to 70% of actual expenditure, limit up to Rs. 3.75 lakh |
Activities of DICs
Further stated are the activities performed by DICs:
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Additional Functions of DICs
Discussed below are some additional functions of DICs:
1. Loan Arrangement
DICs arrange loans with financial institutions like banks, NBFCs, MFIs, etc. to provide funding assistance to entrepreneurs. They also monitor the flow of industrial credit, district-wise.
2. Undertakes Training Courses
DICs conduct training courses for entrepreneurs of small and tiny units. Training courses help entrepreneurs to develop new products with better quality and performance.
3. Machinery and Equipment
DICs designate the locations from where the machinery and equipment can be acquired. They also arrange for machinery supply on a hire-purchase basis.
Also Read: What are the documents required for a machinery loan?
4. Conducts Surveys
DICs conduct surveys of existing industries, traditional industries, raw materials, and human resources. These industries also provide forecasting of numerous products related to specific industries.
5. Promoting rural artisans
DICs have helped in the promotion of rural artisans by working closely with Small Scale Industries. They have also worked for the development of khadi and village industries and organized training programs for rural artisans.
Prior to the existence of DICs, business owners and entrepreneurs have to personally visit their respective agencies to get appropriate financial assistance and facilities. Nowadays suitable services and facilities are delegated by the State Government to DICs to meet the requirements of entrepreneurs.
Also know about : What is Pradhan Mantri Mudra Yojana Loan in India?
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