PMEGP Subsidy Loan Entitlement and Bank Finance at kviconline.gov.in

PMEGP Scheme Subsidy Entitlement and Bank Finance 2020 @ kviconline.gov.in

PMEGP Scheme 2017 Subsidy Entitlement and Bank Finance: This Prime Minister OF Employment Generation Programme Well known as (PMEGP) scheme is controlled by Ministry of Micro, small and Medium Enterprises Govt of India.

This PMEGP 2017 scheme is started by Khadi & Village Industries Commission well known as (KVIC), Government of India. as single nodal agency at National Level. Prime Minister’s Employment Generation Programme (PMEGP) is a credit linked subsidy programme administered by the Ministry of Micro, Small and Medium Enterprises, Government of India. Khadi & Village Industries Commission Well known as (KVIC), is the nodal agency at national level for implementation of the scheme. At state level the scheme is implemented through KVIC, KVIB and District Industries center (DIC). The beneficiaries will be identified & selected at the district level by a Task Force consisting of representatives from KVIC/State KVIB/ State DICs & Banks and headed by the District Magistrate (or) Deputy Commissioner (OR) District Collector concerned. Subsidy from KVIC and Finance depends upon the cost of the project. For manufacturing sector the beneficiaries will be available above 10 lacs and for the business/service sector the beneficiaries available above 5 lacs.

PMEGP Subsidy Loans 2020

90% Bank finance will available for General category/beneficiary institutions and reservation category or special category 95% Bank finance will be available. KVIC will provide subsidy from total loan amount and it will be vary by category wise and area wise. For General category 15% subsidy available in urban area and 25% subsidy available in rural area and for special category 25% subsidy available in urban area and 35% subsidy available in rural area. Promoters contribution 10% for general category and 5% for special category. The loan total amount has to repay within 3 to 7 years with an initial moratorium not exceeding 6 (six) months.

The maximum cost of the project (or) unit admissible under manufacturing sector is Rs. 25 lakhs Only. The maximum cost of the project/unit admissible under business (OR) service sector is Rs. 10 lakhs. The balance amount of  total project cost will be provided by Banks as term loan.

RBI will issue necessary guidelines to the Banks to accord priority in sanctioning projects under PMEGP. RBI will also issue suitable guidelines as to which RRBs and other banks will be excluded from implementing the Scheme. For more information about pmegp loan 2020 visit www.kviconline.gov.in