Principle Eligibility Criteria for Application:
1. The Applicant should be based in India.
2. Eligible Applicants include non-profits, and small businesses with an annual turnover less than INR 50 Lakhs.
3. The Applicant business should not have majority equity funding from a third party.
4. The Applicant must be facing financial hardship in the relevant business due to the current COVID-19 outbreak for payment of employee salaries and wages. This declaration by the Applicant will be considered as a self-declaration and in case of any inconsistent claims by the Applicant, FDCI reserves its right to reject the application including after the funds have been disbursed to the Applicant.
5. Each Applicant can only apply once to avail the essential sum required by them.
6. This fund is not for the purpose of legal expenses, personal expenses, travel expenses (either personal or in relation to a business) or any other activity that is not directly connected to the current COVID-19 outbreak.
Disclosures from FDCI
• Due to the fact that limited funding is available, requests made for funds beyond the stated purpose will not be considered.
• The amount claimed if considered eligible shall be used strictly for staff wages and salaries for which it may have been sanctioned.
• Once the funds have been disbursed to the Applicant, the Applicant must also provide a self-attested declaration providing details of the purpose and beneficiaries to whom the funds have been disbursed.
• The Applicants are requested to complete the attached application and submit the same on email@example.com latest by Friday May 22, 2020 and also upload the necessary documents showing the financial position of the Applicant as prescribed. The size of the documents must not be more than 5 MB in all.
• The final decision of the panel shall be communicated to the Applicant via email.
FDCI shall not be liable in case of any act done in good faith and in pursuance of all decelerations made to FDCI and that shall serve as sufficient to indemnify FDCI and the Board of Governors from any liability or claims.