Subsidy Scheme For Purchase Of Taxi / Goods Vehicle / Passenger Autorickshaw

Details

This Scheme is implemented by the Karnataka Minorities Development Corporation Limited in collaboration with nationalized / Scheduled banks. Those beneficiaries who are sanctioned/approved for loans from the Banks for the purchase of Passenger Autorickshaws / Goods Vehicle / Taxi will be provided a subsidy of 33% of the value of the vehicle or a maximum subsidy of Rs. 2.5 Lakhs. The vehicle subsidized through KMDC shall be displayed on the vehicle as “Subsidized by KMDC”. Women will be given priority in this scheme. The vehicle purchased under this scheme should not be sold to others during the tenure of the loan. If any insurance payment is claimed, the insurance payment details should be shared with the corporation. The beneficiaries will be selected by a Selection Panel. The District Manager should certify the “photo of the beneficiary along with the subsidized vehicle” in the file.

Benefits

Subsidy of 33% on Vehicle value or up to a maximum of Rs 2,50,000/- will be given to each beneficiary to buy Auto Rickshaw/Taxi/Goods Vehicle.

Eligibility

(A) Applicants must belong to State Religious Minority Community.

(B) The applicant must be a permanent resident of the State.

(C) The age limit of the applicant should be between 18 and 55 years.

(D) Family income from all sources should be within Rs. 4.50 lakh per annum.

(E) No member of the applicant’s family should be an employee of the State/Central/ Government Public Sector Units.

(F) Applicant must possess relevant driving License issued by the Regional Transport Authority.

(G) Applicant or his/her family members should have not availed any vehicle loan under any scheme of the State Government.

(H) The applicant shall not be a loan defaulter in KMDC.

Exclusions

• No member of the applicant’s family should be an employee of the State/Central/ Government Public Sector Units.
• Applicant or his/her family members should have not availed of any vehicle loan under any scheme of the State Government.