The term Khadi goes back to the Swadeshi Movement launched by Mahatma Gandhi in by propagating the use of hand-woven and home-spun fabrics. It was a form of protest to shun British goods and the simplicity of the method was remarkable. Khadi is a hand- made cloth using the simple charkha, an implement common in rural India. KVIC full form is Khadi and Village Industries Commission constituted as an apex body under the Ministry of Micro, Small and Medium Enterprises to help plan, promote, facilitate, organize and aid in the development of Khadi and Village Industries in rural India in conjunction with other agencies involved in rural development. Further to the zonal offices, there 29 other offices in different states to oversee the implementation of different programs in alignment with the objectives of the commission. It is imperative to get a greater insight into the common terms in use for a comprehensive understanding of the entire KVIC scheme.
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It was a measure to integrate the two programmes with similar goals to concentrate on a unified effort to encourage the youth to create micro-enterprises in the rural and urban sectors of the country. It is primarily a credit linked subsidy provided to boost employment among the youth of the country by indulging in the business of manufacture and services by setting up new ventures.
In order to comprehend the nuances of the scheme better, it is imperative to delve into the PMEGP scheme details in greater depth. The various features marking this vital initiative are:. Pattern of subsidy to determine proportion of funding of the project cost. Self-share of project cost. Subsidy provided by the Government. Category of borrower. Ratio of Project Cost funded by bank. Margin Money Subsidy. This facility is limited to members involved in the production of Khadi and Polyvastra only.
The loan facility is extended to individuals and organizations meeting the specific norms for eligibility for PMEGP application:. The list of documents required is elaborate matching the requirements of the banks for a seamless process. The inputs required to complete the process may be split into three phases. In the first phase, the personal details are input.
The account details of the bank are also mandatorily sought. Once this process is over, the application is to be saved for invoking the third step — the submission of documents in the digitized format.
Only on completion of all the three phases, the application can be finally submitted for evaluation. An application acknowledgment ID and password is messaged to the registered mail ID for future use. Our operations are spread pan India with the effective use of digital interface for the entire cycle of loan application, evaluation, sanction and disbursal in a matter of 72 hours, which is a benchmark in the industry for others to emulate.
We offer a range of credit products to cater to different target categories that make Lendingkart a choice destination for the prospective borrower who is interested in hassle-free, seamless experience. The redeeming feature of our loans is that they are free of any collateral requiring minimal documentation.
For more information, contact info lendingkart. PMEGP is the flagship initiative of the Government of India, has a broad canvas to work upon towards generation of employment opportunities, primarily impacting the traditional modes of sustainable living.
The successful implementation of the scheme envisages the involvement of multiple agencies right to the grassroots of governance, including the Panchayats for identifying the prospective beneficiaries.
The success of the PMEGP scheme will ensure a large section of unemployed youth to not only indulge in gainful employment but also ensure demographic stability of the rural and urban sectors in the country. Financial year. Application Received Number. Forwarded to banks Number.
Sanctioned by banks Number. Mere pass koi bank account ni h but mujhe start Krna h ek business kya mujhe loan mil jyega. If one customers has already take loan from bank but not received subsidy Can he apply second time for loan through PMEGP portal. Kindly provide us details. Apply Now. Is there any lock-in period prescribed for the margin money? Yes, the margin money which is also the subsidy component of the Project Cost is locked in for 3 years.
The cost of rent or lease, if it is not greater and 3 Years in age, is treated the component of the Project Cost. However, the cost of land does not qualify as a legitimate component of project cost. How has the scheme fared in the last few years? Financial year Application Received Number Forwarded to banks Number Sanctioned by banks Number On the other hand, there is a provision for CGTSME providing a guarantee which is equivalent to collateral for units with project cost in the range of Rs.
The provision of the scheme permits only one unit per borrower. Subscribe to our newsletter. Rate the article:. Rate the article: :. Rated 5 out of 5. View Replies 1. Rated 3 out of 5. Gorank varshney. Rated 4 out of 5. Sagar saikat paria.
Modi govt’s PMEGP: Loan up to Rs 25 lakh with 25% subsidy from KVIC; Check eligibility, details
Also, it is the first time when two women entrepreneurs have been awarded a loan under the scheme to set up their Agarbatti manufacturing units. My best wishes for their success. According to Saxena, such applications under process. Not many are aware that under PMEGP, aspiring entrepreneurs can get a loan up to Rs 25 lakh with a government subsidy of 25 per cent for setting up a manufacturing unit in rural areas. Here are all the details you need to know about the scheme:. According to KVIC official website, the maximum project cost allowed under the scheme is Rs 25 lakh for a manufacturing unit and Rs 10 lakh for setting up a Service unit.
PMEGP – Guide (PMEGP Loan, Online Application)
Khadi and Village Industries Commission (KVIC)
1. Prime Ministers Employment Generation Programme, PMEGP