PM Viswakarma - One Pager

PM Vishawakarma Scheme
Circular No. CHO/MSME/23/2023-24 dated 15/09/2023
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Parameters Salient Features
No
The objectives of the Scheme are
 To enable the recognition of artisans and craftspeople as Vishwakarma
making them eligible to avail all the benefits under the Scheme.
 To provide skill upgradation to hone their skills and make relevant and
suitable training opportunities available to them.
 To provide support for better and modern tools to enhance their
1 Purpose capability, productivity and quality of products.
 To provide the beneficiaries an easy access to collateral free credit and
reduce the cost of credit by providing interest subvention.
 To provide incentives for digital transaction to encourage the digital
empowerment of Vishwakarmas.
 To provide a platform for brand promotion and market linkages to help
them access new opportunities for growth.
As per Government guidelines 18 trades are covered under
PM Vishwakarma Scheme for providing benefits to the artisans and
craftspeople engaged in the trade.
The trades are
Carpenter (Suthar), Boat Maker, Armourer, Blacksmith (Lohar), Hammer
2 Target Customer
and Tool Kit Maker, Locksmith, Sculptor (Moortikar, Stone Carver), Stone
Breaker, Goldsmith (Sunar), Potter (Kumhaar), Cobbler
(Charmakar)/Shoesmith/Footwear Artisan, Masons (Raaj Mistri),
Basket/Mat/Broom Maker/Coir Weaver, Doll and Toy Maker (Traditional),
Barber (Naai), Garland Maker (Malakaar), Washerman (Dhobi), Tailor
(Darzi), Fishing Net Maker.
 An artisan or craftsperson working with hands and tools and engaged in
one of the family-based traditional trades in the unorganized sector on
self-employment basis shall be eligible for registration under PM
Vishwakarma.
 The beneficiary should be engaged in the trades concerned on the date
of registration and should not have availed loans under similar credit-
based schemes of Central Government or State Government for self-
employment/business development, e.g. PMEGP, PM SVANidhi, Mudra in
3 Eligibility the past 5 years. However, the beneficiaries of MUDRA and PM SVANidhi
who have repaid their loan will be eligible under PM Vishwakarma. This
period of 5 years will be calculated from the date of sanction of the loan.
 The registration and benefits under the Scheme shall be restricted to one
member of the family. For availing benefits under the Scheme, a ‘family’
is defined as consisting of husband, wife and unmarried children.
 A person in government service and their family members shall not be
eligible under the Scheme.
The minimum age of the beneficiary should be 18 years on the date of
4 Age Criteria
registration.
Nature of
5 Term Loan
Facility
Tenure of Repayment
Tranches Loan Amount
(In Months)
6 Loan Quantum 1st Tranche Upto ₹1,00,000 18
2nd Tranche Upto ₹2,00,000 30
7 Margin Nil
Primary
Security Hypothecation on assets created out of Bank finance.
8
Coverage Collateral
Collateral security not required for this scheme.
 Credit information report will be required for those who have a credit
history for availing benefits under the credit component, so as to
exclude any defaulter from again availing credit under the Scheme.
 In case of a beneficiary not having a credit history, the Banks or
9 Credit Score
Financial Institutions shall not exclude them from availing credit and
they shall also not insist upon Credit Information Report.
 There is no requirement of minimum CIBIL Score for loan under PM
Vishwakarma Scheme.
 UCO Float Rate + 3.70% i.e. 9.30% + 3.70% = 13% p.a. at present.
 Rate of interest chargeable for loans from beneficiaries will be fixed at
5%.
10 Rate of Interest
(RoI)  The interest subvention by the Government of India will be to an extent
of 8%.
Validity of PM Vishwakarma Scheme will be initially implemented for five years up to
11
Scheme 2027-28.
First Loan Second Loan
Portfolio Coverage Portfolio Coverage
First Loss 0 to 7.5% 100% 0 to 5% 100%

Above 7.5% to Above 5% to
Second Loss 80% 80%
20% 15%
Above 20%
Guarantee Third Loss 60%
12 to 50%
Coverage
Maximum
Guarantee 50% 15%
Cover
Effective
Guarantee 35.5% 13%
Cover
Guarantee Fee shall not be debited to the beneficiary account.

Training Stipend
 Each beneficiary shall be eligible to receive a training stipend of
₹500 per day while undergoing the Basic and Advanced Training
programs.
 Training stipend will be credited to the beneficiaries’ Bank account
through DBT mode after training completion and certification by
Ministry of Skill Development and Entrepreneurship (MSDE).
Toolkit Incentive
 A toolkit incentive of ₹15,000 will be provided to the beneficiary
Other Terms and
13 after Skill Verification at the start of Basic Training. The incentive shall
Conditions
be disbursed to the beneficiaries through e-RUPI/e-Vouchers which
can be utilized at designated centres to procure improved toolkits.
Incentives for Digital Transaction
The Scheme aims to digitally empower the beneficiaries by facilitating
them to adopt digital transactions. An amount of ₹1 per eligible digital
transaction (upto a maximum of 100 eligible transaction) monthly will be
credited to the beneficiary’s Bank account in DBT mode through Aadhaar
Payment Bridge System (APBS). Eligible transaction means a digital pay-out
or receipt in the Bank account of the beneficiary.

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PM Vishawakarma Scheme

Circular No. CHO/MSME/23/2023-24 dated 15/09/2023

First Loss 0 to 7.5% 100% 0 to 5% 100%

Guarantee Fee shall not be debited to the beneficiary account.

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