Akshay Urja Shops

Dear All,

recently i come across some important thing for entrepreneurs, Akshay Urja Shops. I am posting some important information which will be usefull for anyone interested.

Akshay Urja Shops are retail outlets which would sell and service all Renewable Energy Devices and Systems including Solar Energy Products. The network of Akshay Urja Shops would cover all the districts of the country. The Ministry of New and Renewable Energy (MNRE) will provide support to the shops in terms of soft loans through banks and monthly recurring grant & incentive for first two years of operation. All Private Entrepreneurs, Reputed NGOs and Manufacturer’s Associations are eligible for opening AUSs. The applicant for opening a shop will contact the concerned State Nodal Agency (SNA) and submit proposal for Akshay Urja Shops in the prescribed format. Incentives would be available only after sanction of Akshay Urja Shop by MNRE/SNA.
Bank Of India(http://www.bankofindia.com/home/productsservices/akshayurja.asp) is offering loans maximum upto 85% of the cost of establishment of Akshay Urja Shop and the maximum loan amount goes upto Rs. 10.00 Lakh as Demand/Term Loan. The applicable Interest rate to beneficiaries is 7% per annum and the repayment period is maximum 5 years.
Further more you get financial support for new shops where monthly recurring grant of Rs.5,000/- per month towards manpower, electricity, telephone bills and other miscellaneous expenses. Eligibility for recurring grant or incentive will be worked out on the basis of the turnover for each six-month period. If the six-monthly turnover falls below Rs.1.5 lakh during the first year, or Rs.3 lakh during the second year, the shops will not be eligible for any grant or incentive. An incentive of Rs5,000/- 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.

Important: All these grants/incentives will be available to the new shops for a period of 2 years after their establishment.

Link to MNES website: http://mnes.nic.in/akshayshop.htm