04 KALEIDOSCOPE ERGO Monday, March 16, 2009

Ask your query

I am working as an officer in the Navy and
my annual income is Rs. 8 lakh. I am plan-
ning to buy a house in Bangalore with an
outlay of Rs. 50 lakh. I require a bank loan
of Rs. 35,00,000. Can you please suggest
Funding that
billion dollar idea
the Public Sector bank which offers the
best interest?
Commander Patil
We have analysed the interest rates
quoted by Public Sector Banks with the in-
formation available in the website of the
concerned banks and by crossing checking
the information with the respective Branch
Managers.
Bank of Baroda offers the best rates and
it is as follows: Some of these vernment of India which support
your ideas. We look at some such
contribution are given for develop-
ing products that are import substi-
For Loan amount of over Rs.30 lakhs --
9.5 % - for repayment period of over five Government agencies:
Technopreneur Promotion Pro-
tutes or develop the nation in a big
way.
years and up to 15 years
9.75% - for repayment period of more organisations gram (TePP) is funded by DSIR (De-
partment of Scientific and Industrial
The minimum support is about Rs.
one crore without any upper limit.
than 15 years and up to 25 years
could fuel your Research). It adopts a three-way ap-
proach in supporting budding entre-
Some of the famous graduates of the
TDB support are the indigenous die-
dream venture preneurs. (a) Micro TePP gives a
grant of up to Rs.75,000 for devel-
sel engine developed by Tata Motors
for Tata Indica and the Reva electric
oping proof of concepts. (b) TePP vehicle.

Mini Quiz KARTHIKEYAN JAWAHAR

Phase – I where up to Rs.15 lakh can
be given as grant for developing the
concepts into prototypes. (c) TePP
Check http://www.dst.gov.in/stat-
uatory_board.htm for more details.
Some of the other funding agen-

A. What is the new service tax rate?
1. 10%
2. 12%
3. 15%
4. 12.5%
B. Expand PLR
1. Planning Long Range
2. Prime Lending Rate
3. Positive Liquidity Ratio
Send your answers to finergo@goergo.in
or SMS your answers to 92813 98889. For
example if you choose 1 as the answer to
question A and 2 as the answer to question
B type it as 1A2B and send it.
“I
have the next idea that is
going to change the world.
But I don’t have the money
to make it a reality.” Have
you said the above sentence or heard
from somebody else?
All of us have the idea to be the
next Google or Facebook like com-
pany, but we are not in Silicon Val-
ley, if that’s your one main grudge.
Here’s hope for kindling the Einstein
in you. There are a number of sup-
porting agencies started by the Go-
Phase – II where up to Rs. 45 lakh is
given as grant with equal contribu-
tion by the innovator for commer-
cialising the business.
Visit http://www.dsir.gov.in/
tpdup/tepp/tepp.htm for more de-
tails.
The other major funding organisa-
tion is Technology Development
Board (TDB) of Department of Sci-
ence and Technology. Here predo-
minantly loans with 5 per cent
interest but sometimes even equity
cies are: Department of MSME
(http://dcmsme.gov.in/Department
for Biotechnology - http://dbtin-
dia.nic.in); Software Technology
Parks of India (http://www.stpi.in)
offer incubation support in the form
of office space and mentors are
available from a network of science
and technology entrepreneur parks
and business incubators.
Some of the leading STEPS in Ta-
mil Nadu are TREC-STEP (www.trec-
step.com), PSG-STEP and VIT-STEP.
■

Word in Word
CBI clearance before
settlement of bad loan!
All public sector banks may need to take
CBI’s clearance before allowing one-time
settlement of bad loans by customers under
a new direction likely to be issued by the
Reserve Bank soon. The circular, the pro-
posal for which was mooted by CBI, will ask
all the banks to seek the clearance in all such
cases where criminal proceedings were un-
derway. They said there were instances
where CBI had been prosecuting a company
or an individual and it was found that those
involved in the bad loans had already made
a one-time settlement with the bank where
by the bank had given them in writing that
all criminal proceedings against them had
been withdrawn.
PTI