www.mizoramruralbank.in

PRIME MINISTER EMPLOYMENT GENERATION PROGRAMME(PMEGP)

SALIENT FEATURES

  • Nodal Agency-KVIC.
  • implementation in the ratio of 30:30:40 through KVIC/KVIB/DIC (In Rural areas) & DIC (In Urban areas)
  • No Income ceiling for selection of the beneficiary
  • per head investment for employment generation ₹ 1 lakh in plain areas and ₹ 1.50 lakhs in hill areas

PURPOSE

  • To generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures /projects/micro enterprises

ELIGIBILITY

  • Only new units will be considered for financing
  • Individual with min 18 yrs of age (for project above ₹ 10 lakhs in manufacturing and ₹ 5 lakhs in service min qualification .Class viii std)
  • SHG /Trust/Regd. Societies/ Production Co-op Societies
  • Special Category groups/ Societies to enclose relevant Certificate with MM claim otherwise will be treated as General category
  • By laws to be produced by SHG/ Societies
  • Project cost MUST include Capital Expenditure + one cycle of working Capital. Projects cost will not include cost of land but 3 year's rent may be included incase facility's premises are leased

LOAN AMOUNT

  • Manufacturing: up to ₹25 lakhs
  • Service Sector :up to 10 lakhs₹

MARGIN

  • General - 10% of Project Cost
  • Special Category - 5% of project Cost

INTEREST RATE

    As prescribed by the Bank. Interest will be applied on monthly compounding basis

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Largest Branch Network in
Mizoram.
Mizoram Rural Bank
Head Office : MINECO,Khatla
Aizawl - 796001
Mizoram
Nodal Officer for Customer Grievance Redressal
© Copyright 2021 Mizoram Rural Bank. All Rights Reserved.

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