What is Pmegp loan scheme?
Pradhan Mantri Rozgar Rozgar Program (PMEGP) Related Scheme The Prime Minister Employment Generation Program (PMEGP LOAN) scheme is functioning as a nodal agency at the national level by the Khadi and Village Industries Commission (KVIC).
At the state level, the scheme is implemented through State KVIC Directors, State Khadi and Village Industries Board (KVIB), District Industries Center (DIC) and banks. In such cases, KVIC paves the way for government subsidies through designated banks to be distributed directly to
The beneficiaries/entrepreneurs in their bank accounts. The maximum cost of an acceptable project/unit in the manufacturing sector is ₹ 25 lakh and in the business/service sector, it is 10 lakh.
Who are eligible for Pmegp?
The categories of the beneficiary’s subsidy rate under the PMEGP (of project cost) sector (location of project cost/unit) are general category 15% (urban), 25% (rural), special 25% (urban), 35% (rural) ( Including SC / ST / OBC / Minorities / Women, Ex-servicemen, Physically handicapped, NER, Hill, and Border areas, etc.)
Balance of total project cost provided by the bank as term loan and working capital Will be known. Who can apply? Any person above the age of 18 years. For projects costing more than Rs 10 lakh in the manufacturing sector, at least the eighth standard pass and Rs. 5 lakhs in the business/service sector.
Which bank is best for Pmegp loan?
Only new projects are considered for approval under PMEGP Self-help groups (including those associated with BPL, they have not taken benefit under any other scheme), Institutions registered under the Societies Registration Act, 1860; Production cooperatives, and charitable trusts are also eligible.
Existing units (under PMRE, REGP or any other scheme of Government of India or State Government) and units that have availed government subsidy under the Government of India or any other scheme of the State Government are not eligible. how to apply? This is shown in our video. Watch the video to understand the full information.