TTAADC Launches TIPRA-HAM Scheme for Indigenous Youth

  The Tripura Tribal Areas Autonomous District Council (TTAADC) has announced the TIPRA-HAM Auto Loan Scheme, designed to empower the indige...

 

The Tripura Tribal Areas Autonomous District Council (TTAADC) has announced the TIPRA-HAM Auto Loan Scheme, designed to empower the indigenous Tiprasa community by providing accessible and affordable loans across various sectors. This initiative aims to promote socio-economic development, financial inclusion, and the overall well-being of the Tiprasa people.

Objectives of the Scheme:

1. Enhancing Mobility and Entrepreneurship:
   • Provision of auto loans for commercial purposes.
   • Sustainable income for unemployed indigenous youth within TTAADC areas.
2. Increasing Wage-Earning Capacity:
   • Addressing unemployment among indigenous youth.
3. Employment Growth:
   • Contributing to the economic development within TTAADC areas.

Eligibility Criteria:

1. Permanent residency in TTAADC area.
2. Age range of 21 to 45 years.
3. Minimum educational qualification of Class VIII (8th pass).
4. Valid driving license.
5. House must have electrical connection.
6. Only one person per family is eligible.
7. Government servants are not eligible.
8. Ability to contribute 15% of the total cost as margin money.
9. Minimum civil score requirement of 680.
10. Submission of ROR/Family Ration Card.

Financial Assistance and Repayment:

1. Subsidy:
   • 20% of the auto cost covered by TTAADC.
2. Beneficiary Contribution:
   • 15% of the auto cost paid by the applicant.
   • Remaining amount at 6% interest per annum.
3. Loan Tenure:
   • Minimum of 24 months and a maximum of 60 months.
4. Installation Charges:
   • Borne by the beneficiary.

Security and Collateral:

1. Collateral:
   • The vehicle itself.
2. Hypothecation:
   • Vehicle hypothecated to the lender until full repayment.

Application Procedures:

1. Online application through the prescribed form.
2. Application fee of Rs. 500 via online payment.
3. Non-refundable application fee.

Selection of Beneficiaries:

1. Scrutiny committee review.
2. Personal hearings if required.
3. Final approval by TTAADC and forwarded to the bank.
4. TTAADC holds the right to reject applications without explanation.

This ambitious scheme by TTAADC seeks to provide a significant boost to the local economy by creating new employment opportunities and supporting sustainable transportation solutions.