Prime Minister Rojgar Yojana and the Rural Employment Program were merged into the Prime Minister’s Employment Employment Program or PMEGP in 2008. This step was taken to promote the purpose of the previous two programs to generate employment among the youth. The 2008 program has integrated urban and rural approaches to small business start-ups. Therefore, it contributes significantly to job creation and to economic and national growth.
At the National level, the PMEGP is used by the Khadi and Village Industry Commission or KVIC. Many KVIC boards and directors use the program at state level. Funds are disbursed to beneficiaries through selected banks. Under the PMEGP program, by investing only 5% to 10% of the total project cost, beneficiaries can receive up to 35% of funding.
Interest Rate | 11 % to 12% |
Age Criteria | Minimum 18 years |
Maximum project cost | Rs. 25 lakh for Manufacturing Unit, Rs. 10 lakh for Service Unit |
Subsidy on Project | From 15% to 35% |
Eligible Entities | Business owners, Institutions, Co-operative Societies, Charitable Trusts & Self Help Groups |
Applicant’s Education | At least 8th class pass |
The interest rate and support provided under the PMEGP program from different financial institutions will vary from bank to bank and will depend on the applicant profile, business viability and project costs.
Loans under the PMEGP can be obtained from various qualified national banks such as SBI, Bank of Baroda, Canara, Bank of India and other private and public sector banks and NBFCs.
Beneficiary Categories | Beneficiary’s Share (of Total Project) | Subsidy Rate (from Govt.) – Urban | Subsidy Rate (from Govt.) – Rural |
General | 10% | 15% | 25% |
Special | 5% | 25% | 35% |
One can apply for PMEGP on the official website of the
for both individual and non-individual applicants. Follow these steps and make your app seamless.
For individual applicants, an additional step is required. After accessing the official website and taking the option of ‘Offline Application Form for Non-Persons’, the applicant must select a category from’ Self-help Groups’, ‘Trust’, ‘Regd. Institutions’ and ‘Affiliate Communities’. Part of the forms of the above categories will vary.
PMEGP loans are provided to individuals and organizations that meet the terms of such a term loan. The list of eligible businesses that can apply for a loan under PEMGP is outlined below:
There is no income for this loan. The PMEGP loan is only granted to new units and is not available for existing units established under the PMRY, REGP or other government program. In addition, any unit that has received funding under any other program is not eligible for a PMEGP loan.
Allahabad Bank | ICICI Bank Ltd. |
Andhra Bank | IDFC First Bank |
Axis Bank | Indian Bank |
Bank of Baroda | Kotak Mahindra Bank |
Bank of India | Punjab National Bank |
Canara Bank | State Bank of India |
Central Bank of India | UCO Bank |
HDFC Bank Ltd. | Union Bank of India |
The following are the steps to apply for the individual PMEGP Online application:
Step 1: Visit the official PMEGP website (Khadi and Village Industry Commission website) to complete the form online or click here: https://www.kviconline.gov.in/pmegpeportal/jsp/pmegponline.jsp
Step 2: Follow the guidelines for completing the PMEGP online application and complete all required information, such as your information
Step 3: After completing all the required details, click on ‘Save Application Data’ to save the full routes
Step 4: After you have saved your data you need to upload all the documents for the final submission of the application form
Step 5: Once the application has been completed and submitted, the applicant’s ID number and password will be sent to his / her registered mobile number
Step 1: Fill in the required information on the application form.
Step 2: After completing all the details, save the program as a framework.
Step 3: Take print out the application form.
Step 4: Send the printed form to the application form to the nearest office.
Step 5: Complete all the related formalities performed by the relevant bank.
The following documents are required when applying for the PMEGP loan application
The PMEGP e-portal provides access to applicants to apply for PMEGP registration online by completing and submitting an online application form at https://www.kviconline.gov.in/pmegp.jsp
PMEGP Loan Helpline is 1800 3000 0034 and for a smart contact number, applicants can visit the official website by clicking here. https://www.kviconline.gov.in/pmegpeportal/pmegphome/index.jsp
In addition, let’s talk about the PMEGP online application process where different people can benefit.
Step 1: Visit the official PMEGP website or click on this link: kviconline.gov.in/pmegp/
Step 2: Click on the ‘Registered Applicant Login Form’ to open a new page where you can see the login fields and password
Step 3: Enter your ID and password and click login
Step 4: Finally to check the status of your PMEGP loan application, you will need to click on ‘View Status’
Keep the following in mind to successfully obtain a PMEGP loan.
The sections below look at the various aspects of the PMEGP Loan, from the percentage share of each party in the grant to the interest rate and duration.
PMEGP Loan Allocation: Here’s a look at the dividend funding offered under the PMEGP Loan
Interest Rate: The PMEGP loan interest rate will be at the normal rate as applicable in the MSE sector
PMEGP loan period: After the first suspension (usually more than 6 months), the bank may offer a 3-year repayment plan so that borrowers can repay the PMEGP loan
Major funds / grants: The margin is deposited in a separate savings account linked to the loan account, and is closed for a period of 3 years, after which it is repaid with a PMEGP loan or issued
Capital Requirements: The PMEGP loan requires that operating costs be equal to the credit limit at least once every three years after the margin has closed. In addition, no less than 75% of the allowable use limit
Categories of Business Loan Grants under the Scheme: PMEGP Loans are offered to businesses in the following categories:
Financial assistance under the PMEGP
The scheme provides financial assistance to individuals according to different terms. However, as the program includes small, medium and micro enterprises (MSMEs), there is some clarification on the number of eligible projects and the size of the loans offered.
The amount of contribution required by the borrower is 10% in the general category and 5% in the special categories, such as SC / ST / OBC, minority, women, defense personnel, physical persons, persons from the North East region, hills and border areas, among others .
The level of funding will be 15% of the general category in urban areas and 25% in rural areas. In the specialized categories of people, government subsidies will be 25% of urban areas and 35% of rural areas.
SEO Marketing
Mastering the Symphony of RCM Across Healthcare In the intricate world of healthcare provision, maintaining…
When buying the zine, people always read the cover at first, so as to know…
When buying the zine, people always read the cover at first, so as to know…
Post-press processing is the last process in the entire gift box custom printing process. But, it is…
Wine tours are thrilling and enlightening experiences, offering enriching insights into the world of wines…
In the world of printing, color plays a vital role in bringing designs to life.…
This website uses cookies.
Leave a Comment