PM Vishwakarma Scheme: Get Loan Upto Rs 2 Lakh At Just 5% Interest; Know How To Apply, Eligibility And Other Details

New Delhi: Prime Minister Narendra Modi  launched ‘PM Vishwakarma’ Scheme for traditional artisans and craftspeople on occasion of Vishwakarma Jayanti on September 17.

The PM Vishwakarma scheme has been conceptualised to benefit Indian artisans engaged in eighteen identified traditional trades, would be fully funded by the Union Government with an outlay of Rs. 13,000 crores.

How Much Loan Is Given Under PM Vishwakarma Scheme?

Under the scheme, the eligible beneficiaries (Vishwakarmas) would be registered free of charge through Common Services Centres using biometric-based PM Vishwakarma portal. They will be provided recognition through PM Vishwakarma certificate and ID card, along with skill upgradation involving basic and advanced training and toolkit incentive of Rs 15,000. Further, collateral-free credit support up to Rs 1 lakh (first tranche) and up to Rs 2 lakh (second tranche) at a concessional interest rate of 5% would be made available, in addition to incentive for digital transactions and marketing support.

Who Is Eligible For PM Vishwakarma Scheme?

i. An artisan or craftsperson working with hands and tools and engaged in one of the above familybased traditional trades, in unorganized sector on self-employment basis, shall be eligible for registration under PM Vishwakarma.

ii. The minimum age of the beneficiary should be 18 years on the date of registration.

iii. The beneficiary should be engaged in the trade concerned on the date of registration and should not have availed loans under similar credit-based schemes of Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years.

iv. The registration and benefits under the Scheme shall be restricted to one member of the family. For availing benefits under the Scheme, a ‘family’ is defined as consisting of the husband, wife and unmarried children.

How To Apply For PM Vishwakarma Scheme?

Any individual willing to avail the benefits of the Scheme, may register on the portal www.pmvishwakarma.gov.in.