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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

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Date :23/01/2020

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हिंदी में पढ़े
Updated: 23-01-2020 09:52:36 AM

MSME (Micro, Small and Medium Enterprise), loans are mostly offered to start-ups and small business owners. The MSME loan’s repayment tenure varies from lender to lender and the interest rates offered are majorly based on the loan amount, applicant’s profile and business history.

MSME loans are unsecured loans that are offered by banks and NBFCs only if the applicant meets the certain eligibility criteria. MSME loans are defined by Indian Government and RBI, as the loans for business enterprises need support in terms of finance, infrastructure and other areas.

MSME Loans from Popular Banks and NBFCs

Apart from the government-backed schemes, there are a number of private sector banks as well that offer MSME loan at competitive interest rates. Below mentioned are some key banks and NBFCs that offer MSME loans with added benefits:

MSME Loans from Lendingkart Finance 2020
Interest Rate15% onwards
Max. Loan AmountUp to 2 cr
Min. Loan AmountRs. 50,000
Processing FeeUp to 2% of the loan amount
Repayment TenureUp to 36 months
Loan Sanctioning TimeWithin 3 working days
Collateral / SecurityNot required
Pre-payment ChargesNil

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

*Based on the health of your business, revenues and annual turnover

MSME Loans from SBI 2020
Interest Rate10.20% onwards
Loan AmountMax. up to 20 crore, can exceed as per requirements
Processing FeeUpto 2% of the loan amount
Business ExistenceMin. 5 years in same locality/area
Bank Account HistoryCurrent account holder for at least 2 years
Repayment PeriodUp to 120 months

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

*Based on the health of your business, revenues and annual turnover

Business Loans from HDFC Bank 2020
Rack Interest Rate15% onwards*
Loan amountUp to Rs. 50 lakh
Processing FeeUp to 2.50% of the loan amount, Min. of Rs. 2359 & Max. of Rs. 88500
Overdue EMI Interest2% per month on EMI / Principal Overdue
Pre-payment ChargesNil, until repayment of 6 EMIs
Collateral / SecurityNot required

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

*Based on the health of your business, revenues and annual turnover

MSME Loans – ICICI Bank – 2020
Interest Rate16% onwards
Loan offered toPublic Limited Companies, Partnership Firms, Sole Proprietorship Firms, Private Limited Companies
Loan AmountUp to 2 crore
Cash Credit FeatureAvailable
Collateral / SecurityNot required
Eligible Business SegmentMicro Small Enterprise, excluding traders

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

*Based on the health of your business, revenues and annual turnover

MSME Loans from Bajaj Finserv 2020
Interest Rate15% onwards
Processing FeeUp to 3% of the loan amount
Loan TenorMax. up to 60 months
Loan AmountMax. up to Rs. 30 lakh
Loan Sanctioning TimeWithin 24 hours
Collateral / SecurityNot required

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

*Based on the health of your business, revenues and annual turnover

As per the Micro, Small, and Medium Enterprises (MSME) Development Act 2006, these businesses are classified in two categories, service enterprises and manufacturing enterprises.

  • Service Enterprises: The enterprises engaged in providing services come under this category
EnterprisesInvestment in Equipment
MicroDoes not exceed the limit of Rs. 10 lakh
SmallMore than Rs. 10 lakh and up to Rs. 2 crore
MediumMore than Rs. 2 Crore and up to Rs. 5 crore
  • Manufacturing Enterprises: Enterprises that are engaged in manufacturing or production of goods come under this category
EnterprisesInvestment in Equipment
MicroDoes not Exceed the Limit of Rs. 25 lakh
SmallMore than Rs. 25 lakh and Up to Rs. 5 Crore
MediumMore than Rs. 5 Crore and Up to Rs. 10 Crore

MSME Loan Schemes

MSME loans are offered to Micro, Small and Medium Enterprises (MSMEs) by financial institutions that include banks and NBFCs. MSME loans are also offered by government with the help of various schemes which are further discussed. Government Schemes that come under MSME loans include Mudra Loan, CGTMSE, PMEGP, etc. These schemes ensure that the new and existing entrepreneurs in the country get the necessary financial support and funding for their businesses.

MUDRA Loan (Micro Unit Development and Refinance Agency)

MUDRA (Micro Unit Development and Refinance Agency) was introduced to provide support to the small business owners. MUDRA yojana is further classified between three categories named as Shishu, Kishore and Tarun.

In the Shishu category, an MSME loan is provided up to Rs. 50,000 to a Start-Up enterprise. In the Kishore category, a loan of up to Rs. 5 lakh is provided to the companies that have been running for a while and want to get more established. In the Tarun category, the MSME loan is provided up to Rs. 10 lakh to companies that are established and are looking for expansion. The maximum repayment tenure is of 60 months for all Mudra loan categories.

CGTMSE (Credit Guarantee Funds Trust for Micro and Small Enterprises)

CGTMSE (Credit Guarantee Funds Trust for Micro and Small Enterprises) was introduced to establish a strong credit relief system and promote a better credit flow for the MSME sector. Under the CGTMSE scheme, the loan is backed without any external collateral or third party guarantee.

Here, the MSME loan sanctioned by the Member Lending Institution (MLI) is backed by the scheme which provides the guarantee cover for a large portion of the loan amount. Under CGTMSE scheme, both new and existing medium, small, and micro enterprises, including service enterprises are eligible for a maximum credit cap of Rs. 2 crore.

CGTMSE also offers rehabilitation assistance to the units. Any MSME unit that is in a bad condition due to the factors beyond the control of management is supported by the CGTMSE rehabilitation assistance. The maximum credit cap of Rs. 1 crore is offered to the dilapidated MSME units.

Also Read: Small Scale Industries (SSI) – Registration Process, Features, Benefits

Eligibility of CGTMSE Scheme

CGTMSE scheme is offered to various institutions which are as follows:

CGTMSE scheme aids all new and existing medium, small, and micro enterprise borrowers who fulfil the conditions mentioned below:

  • The trust guarantees up to 75% of the defaulted principal amount for all categories and up to 85% of the defaulted principal amount for selected category of borrowers. The maximum guarantee cap is kept at Rs. 62.50 lakh / Rs. 65 lakh for the credit facilities up to Rs. 50 lakh
  • Associated charges such as penal interest, commitment charge, and service charge including any other levy / expenses are not covered by the scheme
  • Small and micro enterprises owned and / or operated by women are also eligible for a guarantee cover of 80% and all the credit/loans in the North East Region (NER) for credit facilities are eligible for a guarantee of Rs. 40 lakh. Other aspects such as retail trade, educational institutions, agriculture, training institutions, and self-help groups (SHGs) are not eligible for guarantee cover under the scheme

PMEGP (Prime Minister’s Employment Generation Programme)

PMEGP is a credit linked subsidy program which was integrated with two other schemes, namely, Prime Minister’s Rojgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP), to generate employment among the educated youth of the country. Under PMEGP scheme, the beneficiary has to invest close to 5-10% of the project cost while the government grants a subsidy of 15-35% of the project. The participating banks offer the rest of the funds as term loans to the business owners.

Subsidy and funding under PMEGP

Beneficiary CategoriesBeneficiary’s Share

(of Total Project)

Subsidy Rate

(from Govt.) – Urban

Subsidy Rate

(from Govt.) – Rural

General10%15%25%
Special5%25%35%

To avail PMEGP loan, individuals and organizations should meets certain criteria which are listed below:

  • Age Criteria: Min. 18 years & Education Qualification: 8th class passed for individuals
  • Must be a part of Self-Help Group (SHG)
  • Societies that are registered under Societies Registration Act, 1860
  • Production Co-operative Societies
  • Charitable Trusts

Sub-Schemes offered under Mudra Loan Yojana: Mudra loan or Mudra Yojana comes with sub-schemes designed for specific business needs and requirements. The section includes sub-schemes such as:

  • Credit for Micro Enterprises: This sub-scheme focuses on maximizing the involvement of micro enterprises in the economic development. The additional benefits cover a large number of beneficiaries running micro enterprises. The major segments of the population that are involved in land transport, food production, textile, and community services may take advantage of the scheme and set up their own small business unit
  • Mahila Uddyami Scheme: This scheme is designed specifically for women entrepreneurs. It has an objective of encouraging women, groups of women, joint liability groups, and self-help groups of women to set up micro business entities. Under this scheme, special interest concessions are also granted
  • Refinance Scheme for Banks: Mudra Yojana also refinances MSME loan amounts of up to Rs. 10 lakh extended by the banks to the borrowers. However, only manufacturing and service sector MSME unit owners can obtain the benefits of this refinancing scheme
  • Micro-Credit Scheme: Micro-credit schemes focus on Micro Finance Institutions (MFIs) and provide them with the financial support to make their lending operations available for individuals, group of individuals, or micro business entities
  • Mudra Card: This is an extraordinary product that makes the funds from the MSME loan easily accessible to the cardholder and also offers significant flexibility. Mudra Card can be used as a credit card for the assigned overdraft limit and it can also be used as a debit card for ATM withdrawals
  • Credit Guarantee Fund: The credit guarantee fund is created to reduce the risk for lending institutions. The fund provides loans worth more than Rs. 1 lakh crore to manage the risk faced by lending institutions
  • Equipment Finance Scheme: This scheme is designed to help micro enterprises expand their business. Technically advanced equipment can be purchased through finance with the help of this scheme. It can help organizations in increasing their production and expand their horizons of profitability and sustainability

Also Read: Leading Business Loan Options for Women

Documents Required for MSME Loan

  • Duly filled Application form
  • Identity Proof: Passport, driving licence, PAN card, Voter’s identity card
  • Residence Proof: Passport, lease agreement, trade license

    , telephone and electricity bills, ration card and sales tax certificate

  • Age Proof: Passport, Voter’s identity card, Photo PAN card

Also Read: MSME Registration – Benefits, Process, Fees, Eligibility, Documents Required

Financial Documents:

  • Last 12 months’ bank statement
  • Business registration proof
  • Proprietor(s) PAN Card Copy
  • Partnership deed copy
  • Company PAN card copy
  • P&L and balance sheet copy of last 2 years
  • Sales tax documents
  • Municipal tax document
MSME Toll Free No: 18001237376

General Enquiries: 011-23063288/011-23063643

Frequently Asked Questions (FAQs)

Ques. Is MSME registration voluntary or compulsory?
Ans. MSME registration is totally voluntary and businesses do it to utilise the benefits offered under it.

Ques. Is credit score important for MSMEs in getting MSME loan?
Ans. Yes, possessing a good credit score is always an added advantage for MSMEs.

Ques. What is the validity of the Provincial Registration Certificate (PRC)?
Ans. The validation of a Provincial Registration Certificate (PRC) is for 5 years.

Ques. What is the support available for technology upgrades?
Ans. The Government of India and MSME ministry runs a Credit Linked Capital Subsidy scheme (CLCSS) that supports the MSME enterprises in the country for technology upgrades. The schemes provide 15% capital subsidy to the eligible MSME enterprises to improve and upgrade the technology as per the industry standards. The maximum subsidy availed by an enterprise cannot go beyond the limit of Rs. 15 lakh. To avail these services, individuals can approach the nearest nodal agency / financial institution.

Ques. Is there any provision for cluster development under the government schemes?
Ans. Under the Micro Small Enterprises – Cluster Development Programme (MSE-CDP), the support is provided for diagnostic study. The government is also trying to manage soft interventions such as creating general awareness, counselling, motivation, exposure visits, trust building, market development, and participation in seminars, workshops, and training programmes on technology upgrades.

Ques. What is the limit for MSME?
Ans. The maximum amount that can be availed under MSME scheme is up to Rs. 2 crore. However, the actual amount depends on applicant’s profile and varies from bank to bank.

Ques. Is there any validity of MSME certificate?
Ans. The validity of MSME certificate is of 5 years.

Ques. What is the benefit of tool-rooms provided by the ministry?
Ans. The MSME Ministry provides high-tech tool-rooms to the MSME enterprises so that their products and services create a niche for themselves in the market. The tool-room initiative from the MSME ministry also provides skilled manpower to the enterprises for increasing their cap.

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