MSMEs to get collateral free loans: KH Muniyappa
Hotline: 1800 102 2007
X
Search Business Opportunities
2013-09-05

MSMEs to get collateral free loans: KH Muniyappa

At a press conference, Minister for MSME KH Muniyappa, discussed the recent initiatives for enhancing the effectiveness of the implementation of Prime Minister\\\'s Employment Generation Programme (PMEGP).

At a press conference, Minister for MSME KH Muniyappa, discussed the recent initiatives for enhancing the effectiveness of the implementation of Prime Minister's Employment Generation Programme (PMEGP).

 

Muniyappa said,"PMEGP is the major credit linked subsidy programme being implemented by the Ministry."

 

The Ministry of Micro, Small and Medium Enterprises (MSME) on 30 August 2013 constituted an Advisory Committee for each district of the country for monitoring the progress of PMEGP with active involvement of Members of Parliament from the district.

 

"The collateral free loans are now available for PMEGP projects costing upto Rs 25 lakh, as follows (a) Banks have been mandated not to accept collateral security in the case of loans up to Rs 10 lakh extended to units in the micro and small enterprises sector and (b) under the Credit Guarantee Scheme of the Credit Guarantee Fund Trust for Micro and Small Enterprises," said Minister.

 

The Minister also highlighted that the committee would liaise and coordinate with KVIC, state government and other agencies, including banks for effective mobilization of young entrepreneurs under PMEGP. It would also ensure that the scheme is implemented in accordance with its guidelines.

 

On the issue of plan allocation, the Minister said, "For the country, as a whole, the outlay for XII Five Year Plan under PMEGP has been kept at Rs8060 crore which is 70 per cent higher than the allocation of XI Plan for the scheme for creating over 5 lakh enterprises creating employment for about 40 lakh people." 

 

Related opportunities
  • Others Entertainment & Leisure
    About: Toon Mart is a one shop for wide range of..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us:  Founded by Mrs. Preeti Bhandary and Mr. Vittal Bhandary Led..
    Locations looking for expansion Karnataka
    Establishment year 2004
    Franchising Launch Date 2008
    Investment size Rs. 10lac - 20lac
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Quick Service Restaurants
    Company Profile  Ping’s Cafe Orient is a healthy Asian street food..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 1750
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
  • Quick Service Restaurants
    About Us: Waffle wallah is an innovative and popular QSR chain,..
    Locations looking for expansion West bengal
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 64
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts