The MSME Department, Government of Odisha on May 29, 2024, notified regarding the amendment of operational guidelines for sanction and disbursement of Capital Investment Subsidy (CIS) under Odisha MSME Development Policy 2022.
The following has been stated namely: -
• It is in reference to notification no. - 8074/MSME dated November 11, 2023, in provision 11 - "Disbursement of CIS" shall be substituted as:
o "11.1 General Manager (DIC) shall verify the working status of the unit within 3 working days from the date of the sanction letter and update the same in the portal itself. Therefore, within 3 working days, disbursement of CIS shall be made by the subsidy sanctioning authority, Director of Industries (Odisha), OR General Manager (DIC), as the case may be if the unit is found operating at the given location."
o "11.3 Disbursement of the sanctioned CIS amount shall be made directly to the Bank Account of the applicant unit, given in the online application form, by the Director of Industries (Odisha) or General Manager (DIC), as the case may be."
[Notification no. - MSME-IP-MISC-0040-2023/3113/MSME]
