Are you a business man or are you looking to start a new business? If yes, then you can apply for a new loan that government is offering without any security. Under this new scheme, the banks are providing Rs 2 lac collateral free loan. The name of this scheme is PM Vishwakarma.
Under the scheme, the artisans can register in the PM Vishwakarma portal using biometrics. They will be provided recognition through PM Vishwakarma certificate and ID card, skill upgradation involving basic and advanced training, toolkit incentive of ₹15,000, collateral-free credit support up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) at a concessional interest rate of 5%, incentive for digital transactions and marketing support.
Who can apply for this loan?
- The minimum age of the beneficiary should be 18 years on the date of registration.
- These people can apply for loan: Carpenters, Boat Makers, Armourers, Blacksmiths, Hammer and Tool Kit Makers, Locksmiths, Goldsmiths, Potters, Sculptor, Stone breakers, Cobblers (Shoesmiths/ Footwear artisans), Masons (Rajmistri), Basket/ Mat/ Broom Makers/ Coir Weavers, Doll & Toy Makers (Traditional), Barbers, Garland makers, Washermen, Tailors, Fishing Net Maker
Purpose of this scheme
The objective of the PM Vishwakarma Scheme is to enable / provide support to artisans and craftspeople who work with their hands, using tools, in the 18 trades covered through:
- the recognition of artisans and craftspeople as Vishwakarma, making them eligible to avail all the benefits under the Scheme;
- skill upgradation to hone their skills and make relevant and suitable training opportunities available to them;
- support for better and modern tools to enhance their capability, productivity, and quality of products and services;
- providing the beneficiaries an easy access to collateral free credit and reduced cost of credit through interest subvention;
- incentives for digital transactions to encourage digital empowerment of Vishwakarmas; and
- a platform for brand promotion and market linkages to help them access new opportunities for growth.
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