Annasaheb Patil Economic Development Corporation scheme details

Here’s a clearer, updated breakdown of the Annasaheb Patil Economic Development Corporation (APEDC) schemes in Maharashtra:

🏛️ Background & Mission
Founded on November 27, 1998, APEDC supports economically weaker sections—especially unemployed youth and the Maratha community—by providing interest-free or interest-reimbursed bank loans to promote entrepreneurship
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🧾 Loan Schemes
1. Individual Interest Reimbursement (IR‑I)
Loans up to ₹10 lakh for individuals in the non-creamy layer.

Mahamandal reimburses interest (up to 12%) monthly—effectively interest-free
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Tenure: 5 years or until loan repayment
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2. Group Loan Interest Reimbursement (IR‑II)
For groups (cooperatives, LLPs, FPOs), loans between ₹10–50 lakh, but interest reimbursement capped on ₹15 lakh per group.

Mahamandal reimburses up to 12% interest for up to 5 years
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3. Group Project Interest‑Free Loan (GL‑I)
Interest-free loans up to ₹10 lakh for project-based groups such as FPOs .

🌾 Tractor Loan Scheme (Agriculture)
Reintroduced in June 2023.

Banks finance the tractor; Mahamandal pays ~12% interest subsidy on behalf of the borrower
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📋 Eligibility Requirements
Residency: Permanent Maharashtra resident
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Age: Men ≤ 50 years; Women ≤ 55 years
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Income: Non-creamy layer (usually ≤ ₹8 lakh/year)
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Other:

Aadhaar-linked bank account
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No previous benefit from APEDC
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No loan defaults
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Disability: Valid disability certificate required where applicable
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💼 Permissible Uses
Loans can be used to launch or expand enterprises in sectors like agriculture, manufacturing, services, food processing, tractor purchase, etc.
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📝 Application Process
Register and apply on the Udyog Mahaswayam portal: udyog.mahaswayam.gov.in
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Prepare necessary documents:

KYC (Aadhaar, PAN, bank passbook & cancelled cheque)

Income & caste proof

Loan sanction letter, project report, Udyog Aadhaar (for MSME ventures)
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Apply via banks or CSCs; upload loan details on the portal.

Upon approval, loans disbursed by banks; reimbursements/interest subsidy credited directly to borrower’s bank account.

📊 Impact & Oversight
Over 1.38 lakh beneficiaries have received loans totaling around ₹11,000 crore, with ₹1,000+ crore reimbursed as interest
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However, recent reports have flagged fraudulent practices, such as unauthorized fee collection for Letters of Intent—APEDC is working with state authorities to stop this
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🔍 Summary at a Glance
Scheme Loan Amount Interest Subsidy Tenure
IR‑I Up to ₹10L 12% interest reimbursed 5 years or loan tenure
IR‑II ₹10–50L (guarantee upto ₹15L) 12% interest reimbursed 5 years
GL‑I Up to ₹10L Interest-free 5 years
Tractor Loan Varies ~12% interest subsidy As per loan

✅ Next Steps
Confirm your eligibility—age, income, no prior APEDC benefits.

Prepare documents: loan sanction letter, Aadhaar, PAN, caste/income certificates, project report.

Visit the Udyog Mahaswayam portal to register and apply online.

Alternatively, get assistance at designated banks or CSCs.