Hundred aspiring ST entrepreneurs in Telangana inducted into ISB
HYDERABAD: Individuals from some of the most backward tribal groups like Andh, Chenchu, Pardhan, Koya, Thoti and Yerukula from different districts of the state will get an opportunity to establish their own businesses and create jobs as the second batch of 100 aspiring Scheduled Tribe entrepreneurs under the Chief Minister ST Entrepreneurship and Innovation Scheme was inducted into the Indian School of Business (ISB) on Thursday.
These 100 aspiring entrepreneurs will be trained in preparation of detailed project reports (DPRs) for their business plans to avail bank loans successfully by the experienced faculty at ISB, who will also be mentoring them for a span of three months.
If a DPR is selected by the bank, the candidate will receive 50 per cent of the proposed amount from the bank as collateral-free loan and 35 per cent as subsidy money from the department.
According to the Tribal Welfare Department, which is implementing the scheme, of the first batch of 100 ST candidates selected for the scheme, the banks have already sanctioned loans for 45 beneficiaries with a project cost of Rs 51.97 crore.
The documentation of DPRs with proposed cost of Rs 12.19 crore is ongoing for 11 candidates and the DPRs of 27 candidates with a proposed cost of Rs 29.62 crores were received recently which will be processed.
The second batch of candidates selected for the scheme were selected out of the 931 candidates who had appeared for the screening test. However, the number of women candidates among them is low at 14.