Scribd Logo
Upload

Welcome to Scribd!

  • 67 views

    Prime Minister Employment Generation Programme

    Uploaded by

    Alam MD Sazid
    The Prime Minister Employment Generation Programme provides loans to individuals over 18 to start self-employment ventures. Eligible individuals can receive term loans and working capital up to Rs. 25 lakhs for manufacturing or Rs. 10 lakhs for business/services. The interest rate is 12% monthly and loans are repaid over 3-7 years. Subsidies of 15-35% are provided depending on location and category of beneficiary. Insurance and KYC documentation are also required.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Prime Minister Employment Generation Programme

    Uploaded by

    Alam MD Sazid
    67 views1 page
    The Prime Minister Employment Generation Programme provides loans to individuals over 18 to start self-employment ventures. Eligible individuals can receive term loans and working capital up to Rs. 25 lakhs for manufacturing or Rs. 10 lakhs for business/services. The interest rate is 12% monthly and loans are repaid over 3-7 years. Subsidies of 15-35% are provided depending on location and category of beneficiary. Insurance and KYC documentation are also required.

    Original Description:

    LOAN

    Original Title

    Pm Loan Sheme

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The Prime Minister Employment Generation Programme provides loans to individuals over 18 to start self-employment ventures. Eligible individuals can receive term loans and working capital up to Rs. 25 lakhs for manufacturing or Rs. 10 lakhs for business/services. The interest rate is 12% monthly and loans are repaid over 3-7 years. Subsidies of 15-35% are provided depending on location and category of beneficiary. Insurance and KYC documentation are also required.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    67 views1 page

    Prime Minister Employment Generation Programme

    Uploaded by

    Alam MD Sazid
    The Prime Minister Employment Generation Programme provides loans to individuals over 18 to start self-employment ventures. Eligible individuals can receive term loans and working capital up to Rs. 25 lakhs for manufacturing or Rs. 10 lakhs for business/services. The interest rate is 12% monthly and loans are repaid over 3-7 years. Subsidies of 15-35% are provided depending on location and category of beneficiary. Insurance and KYC documentation are also required.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Prime Minister Employment Generation Programme

    Purpose To generate employment opportunities in rural, semi urban as well as urban


    areas of the country through setting up of new self-employment
    ventures/projects/micro enterprises

    Eligibility  Any Individual , above 18 years of age.


     The beneficiary should possess at least VIII Standard pass
    educational qualification.
     Self Help Groups including those belonging to BPL provided that
    they have not availed benefits under any other scheme
     Should not be defaulter of any Bank/Financial Organisation
     Resident of Bank’s service area.
    Type of Loan Term Loan and Working Capital jointly
    Quantum of Loan The maximum cost of the project/unit admissible under manufacturing
    sector is Rs.25.00 Lacs and the maximum cost of the project/unit admissible
    under business/service sector is Rs. 10.00 Lacs
    Or
    The Bank will sanction 90% of the project cost in case of General Category
    of Beneficiary/Institution and 95% in case of special category of the
    beneficiary/Institution
    Or
    Whichever is less
    Rate of Interest 12% Monthly Compounde ( Subject to change )
    Repayment of Loan 3 to 7 Years including moratorium period, payable by equated monthly
    instalments, CC is renewed every year.

    Subsidy  15% in Urban area and 25% in Rural area for General Category
    Beneficiaries
     25% in Urban area and 35% in Rural area for Other Category
    Beneficiaries
    Insurance Necessary ( Comprehensive Insurance of Stock and Machinery )
    KYC Required

    You might also like