Objective: To generate employment opportunities in rural as well as urban areas through setting up of new self-employment ventures/projects/micro enterprises.
Term loan/Working capital loan: max ₹60.00 lakhs
Processing charges: Term loan: 0.5% of the total loan amount
Rate of Interest:11%
Repayment:10 years (Term Loan), renewed yearly for working capital loans
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PMEGP is a government scheme aimed at generating self-employment opportunities through micro-enterprises in the non-farm sector.
2. Who is eligible to apply for PMEGP?
Individuals, self-help groups, registered institutions, cooperative societies, and charitable trusts can apply for PMEGP loans.
3. What types of projects are eligible under PMEGP?
Any viable project in the manufacturing, service, or agro-based sector that generates employment and is economically and technically feasible is eligible under PMEGP.
4. How is PMEGP assistance provided?
PMEGP provides financial assistance in the form of margin money subsidy and bank credit. The margin money subsidy is provided at different rates (rural and urban areas) and depends on the category of the applicant.
5. What is the role of banks in PMEGP?
Banks provide the necessary credit for PMEGP projects after verifying the project's feasibility and the applicant's eligibility. The subsidy amount is then reimbursed by the respective State / Khadi and Village Industries Commission (KVIC) Directorates to the banks.
