Sikkim Subject Certificate/Certificate of Identification holders and their descendants aged 22 to 35 years, who have passed Class X and are unemployed, are eligible.

The gross income of the applicant's parents from all sources should not exceed Rs. 2.50 lakhs annually, as certified by the District Collector.

Only one member per family is eligible, except for families Below Poverty Line (BPL), where more than one member can benefit.

Yes, children of government or public sector employees are eligible, provided they meet all other eligibility criteria.

The maximum loan amount that can be sanctioned under the scheme is ₹3.00 lakhs per individual.

Yes, a processing fee of 1% of the sanctioned amount is charged to cover administrative expenses.

In the event of the loanee's death, the co-applicant is liable for refunding the outstanding loan, ideally limited to the principal amount, within a period not exceeding one year.

The Sikkim Industrial Development & Investment Corporation (SIDICO) is the prescribed agency for accepting and disbursing loan applications under the scheme.

Loans under the scheme are disbursed on a quarterly basis after final approval by the government.

Loan applications are assessed based on the genuineness of the request, the candidate’s ability to establish and run the project, and their capacity to repay the loan. Preference is given to those with higher/specialized training in the relevant field.

The total amount of the loan is proportionately divided among the four districts based on their population percentage.

SIDICO monitors the performance of the beneficiaries to ensure the self-employment venture is successful and meets the government’s objectives.

SIDICO prepares a repayment schedule for each individual case and takes necessary steps, including legal action if required, to recover loans in case of chronic and intentional defaults.