Also, it is the first time when two women entrepreneurs have been awarded a loan under the scheme to set up their Agarbatti manufacturing units. My best wishes for their success. According to Saxena, such applications under process. Not many are aware that under PMEGP, aspiring entrepreneurs can get a loan up to Rs 25 lakh with a government subsidy of 25 per cent for setting up a manufacturing unit in rural areas. Here are all the details you need to know about the scheme:.
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Updated on Nov 27, - PM. This program focuses on generating self-employment opportunities through micro-enterprise establishments in the non-farm sector by helping unemployed youth and traditional artisans.
Rural area, as stated under Khadi and Village Industries Commission Act — Scheme, means the area comprised in any village and includes the area comprised in any town. The population should not exceed twenty thousand or such other figure as the Central Government may specify from time to time. Don — Rs 9 lakh.
Hence, entrepreneurs like Mr. The normal interest rate is applicable to the enterprise from time to time. The Repayment Schedule ranges from 3 -7 years. No collateral security nor any third party guarantee is insisted here. Any assets created from the bank loan should be hypothecated to Bank. At the national level, KVIC is the nodal agency. First, visit the website my. Service or Manufacturing 13 Name of the Activity : 1. Capital Expenditure: Enter CE loan in rupees.
Working Capital : Enter WC loan in rupees. Products IT. About us Help Center. Log In Sign Up. Government Registrations Get various licenses easy and quick. Get Expert Assistance. Request a Callback. Get an expert at affordable price.
Type of Activity: Select from the activity list i. Service or Manufacturing.
PMEGP e-Tracking System
Any Industry including Coir based projects except those mentioned in the negative list which produces any goods or renders any service with or without the use of power and in which the fixed capital investment per head of a full time artisan or worker i. After completing EDP training only, first installment of Bank loan will be released. Persons already undergone training of 2 weeks will be exempted for further training. The scheme will be advertised through print and electronic media.
PMEGP Online Application
Subsidy from KVIC and the bank finance depends on the cost of project as per details given below :. Enjoy Banking on the Go. Download Mobile Banking App Download. To provide continuous and sustainable employment to a large segment of traditional and prospective artisans and unemployed youth, so as to help arrest migration of rural youth to urban areas.
PMEGP Scheme- Eligibility, Rates, Online Application, Loan Limits
To produce employment opportunities in both urban and rural areas in India through the establishment of new self-employment projects, micro-enterprises and ventures. To generate sustainable and continuous employment to rural and unemployed youth as well as prospective and traditional artisans and thereby halt rural youth from migrating to urban areas. Collateral-free Business Loans up to Rs. Submit only 2 documents and get funding in just 24 hours- Apply Now. The maximum project cost for the manufacturing sector is capped at Rs.