The Annal Ambedkar Business Champions Scheme (AABCS) is an initiative by the Tamil Nadu government aimed at promoting entrepreneurship among Scheduled Caste (SC) and Scheduled Tribe (ST) communities. The scheme offers financial assistance and training to support the establishment and expansion of businesses.
Key Features:
- Capital Subsidy: Provides a 35% capital subsidy on the eligible project cost, up to a maximum of ₹1.5 crore.
- Interest Subvention: Offers a 6% interest subvention on loans sanctioned for procuring machinery and equipment.
- Eligible Project Costs: Includes expenses for land (up to 20% of project cost), plant, machinery, testing equipment, and computing devices. Vehicles are considered if integral to the business.
Eligibility Criteria:
- Residency: Applicants must be residents of Tamil Nadu.
- Community: Open exclusively to individuals belonging to SC/ST communities. Enterprises must be 100% owned by SC/ST entrepreneurs.
- Age Limit: Applicants should be aged 55 years or below.
- Educational Qualification: No minimum educational qualification is required.
- Business Type: Applicable to new enterprises and expansion of existing ones in manufacturing, services, and certain trading sectors exceeding thresholds of other schemes.
Application Process:
- Online Registration: Applicants must register through the official MSME Department portal: www.msmeonline.tn.gov.in/aabcs/index.php
Document Submission: Submit necessary documents, including identity proof, caste certificate, proof of age, residence proof, and bank account details.
- Training Enrollment: Mandatory Entrepreneurship Development Training is provided to all beneficiaries.
- Loan Processing: After training, the loan application is processed, and upon approval, the subsidy and loan amounts are disbursed.