| Financial provision and guidelines for
implementation of the programme on Akshay Urja Shops.
A. Financial Support for new shops.
a) Setting up of Akshay Urja Shops (one per district)
- Soft loan at an interest rate of 7% to a maximum
of 85% of the cost of establishment of the shop
subject to a maximum of Rs. 10 lakhs will be
provided from public sector banks and scheduled
co-operative banks, repayable over a period of five
years.
- Monthly recurring grant of Rs. 5,000/- per months
towards manpower, electricity, telephone bills and
other miscellaneous expenses.
- An incentive of Rs. 5000/- per month based on
minimum turnover of Rs. 50,000/- per month during
the first year and Rs. 1,00,000/- per month during
the second year of operation (the shops will not be
eligible for any incentive for a particular month if
the turnover is below the minimum amount)
B. Submission of proposals and release of CFA
The applicants for in opening a shop will contact the
concerned State Nodal Agency (SNA) and develop proposal
for Akshay Urja Shops in the formal given at
C. Release of CFA and settlement of accounts
- 50% of the proposed monthly recurring grant and
the incentive to be given to the shops during their 1st
year operation will be released after SNAs inform
about establishment of the shops. The SNAs, will
release this grant and the incentive to the shops on
reimbursement basis after every six month block
period as per the scheme provisions. Further CFA
will be released to SNAs based on the documents
received from them, maximum twice a year for the
block period Aprils to September and October to
March. The accounts will be settled based on the
audited SOE as per Appendix III(d) and UC as per
Appendix V. As regards service charges to SNAs, 50%
of the eligible amount will be released after
establishment of the shops and balance on receipt of
report about publicity activities supported and
actual expenditure details.
Interest subsidy on upfront basis debited by the bank
on loans sanctioned to beneficiaries will be released on
reimbursement basis after establishment of he shops
along with service charges to IREDA and banks based on
progress report, SOE and UC received from IREDA.
|
