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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

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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.

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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

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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

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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.

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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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हिंदी में पढ़े
Updated: 21-01-2020 10:24:44 AM

 

The Prime Minister’s Employment Generation Programme (PMEGP) is a credit linked subsidy programme initiated in 2008. It integrated two earlier schemes, viz. Prime Minister’s Rojgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP) that were working along similar lines to generate employment among the youth. The integration of these two initiatives helped combine urban and rural efforts and resulted in a more unified approach to set up micro enterprises to increase the number of jobs in the country.

Under this scheme, the beneficiary has to invest only 5-10% of the project cost while the government provides a subsidy of 15-35% of  the project based on different criteria. The participating banks provide the rest of the funds as term loans to the entrepreneur. We look at this in some detail in the below section.

The PMEGP scheme is managed under the aegis of the Ministry of Micro, Small and Medium Enterprises (MoMSME) and the Khadi and Village Industries Commission (KVIC) looks at it on a national level. The state-wise efforts are divided among different directorates and boards, among others. These include various khadi and village industries boards across different states, the state directorates of KVIC, the industries centres in districts across the country, and the banks. The accounts in these banks are essentially the medium through which the funds are distributed after the aforementioned directorates, boards, etc. approve the subsidies to specific persons setting up the micro units.

Some organisations working with the directorates and boards include NGOs, Panchayati Raj institutions, the National Small Industries Corporation, and so on. These organisations help in the implementation of the scheme by identifying beneficiaries, focus areas where investment is required and providing training to the youth to take up jobs or set up micro-units themselves.

Objectives of the Prime Minister’s Employment Generation Programme (PMEGP)
Financial Assistance under PMEGP
Subsidy and Funding under PMEGP
Individuals / Organisations that Meet the Eligibility Criteria for a PMEGP Loan
Documents Required to Apply for a PMEGP Loan
PMEGP Loan Details
Frequently Asked Questions (FAQs) on PMEGP Loan
Section

Objectives of the Prime Minister’s Employment Generation Programme (PMEGP)

The PMEGP has a four-fold objectives:

  1. To create employment in rural, as well as urban areas in India by setting up new self-employment micro enterprises or projects.
  2. To provide a common ground for the widely dispersed traditional artisans and unemployed youth in both rural and urban areas to come together and create self-employment avenues.
  3. To take steps to prevent migration of rural people to cities to seek employment by giving them stable and sustainable employment. This is especially for traditional and prospective artisans and rural and urban unemployed youth who get traditional or seasonal employment and remain unemployed rest of the year.
  4. To increase the income earning capacity of artisans and focus on increasing the growth rate of rural and urban employment.

PMEGP

Financial Assistance under PMEGP

The scheme offers financial assistance to people based on different criteria. However, since the scheme covers micro, small and medium-sized enterprises (MSMEs), there are certain specifications on the amount of projects that qualify and the size of the loan that is offered. For the manufacturing sector, the maximum limit of cost of the project will be Rs. 25 lakh. For units in the business or service sector, this limit will be Rs. 10 lakh. Additionally, the per capita investment should not be more than Rs. 1 lakh in the plains and Rs. 1.5 lakh in the hilly regions.

The amount of contribution required from the borrower is 10% for the General category and 5% for the Special categories, such as SC/ST/OBC, minorities, women, ex-defence employees, physically challenged persons, and people from the North East region, hills and border areas, among others.

The rate of subsidy will be 15% for the General category in urban areas and 25% in rural regions. For the Special categories of people, the subsidy from the government will be 25% for urban areas and 35% for rural locations.

Subsidy and Funding under PMEGP

Beneficiary Categories

Beneficiary’s Share

(of Total Project)

Subsidy Rate

(from Govt.) – Urban

Subsidy Rate

(from Govt.) – Rural

General

10%15%

25%

Special

5%25%

35%

The balance amount of the total project cost is provided by the banks as a term loan to the micro unit entrepreneur. This term loan is more commonly referred to as a PMEGP Loan.

Individuals / Organisations that Meet the Eligibility Criteria for a PMEGP Loan

The PMEGP loan is given to individuals as well as other organisations that meet the specified criteria for such a term loan. The list of such eligible candidates is provided below :

  • Individuals, who are above 18 years of age; the beneficiary individual must have studied and passed at least class 8 if they want to establish a manufacturing unit costing over Rs. 10 lakh or a service unit costing over Rs. 5 lakh with the PMEGP loan.
  • Self-help groups can also take the PMEGP loan provided they have not availed any other benefit under the scheme.
  • Societies that are registered under Societies Registration Act, 1860
  • Production Co-operative Societies
  • Charitable Trusts

There are no income ceilings to avail this loan. The PMEGP loan is only given to new units and is not available for existing units established under PMRY, REGP or any other government scheme. Moreover, any unit that has availed a subsidy under any other scheme is not eligible for the PMEGP loan.

Also Read: PMEGP Online Application Process & Steps to Apply

Documents Required to Apply for a PMEGP Loan

The following documents are needed to apply for a PMEGP Loan.

  • Caste or community certificate, or any other relevant document from a competent authority, which shows that the applicant is eligible for a PMEGP loan under one of the specific applicant categories
  • A claim to the subsidy to which they are eligible
  • In case of a society or an institution, a certified copy of the bye-laws is also needed
  • The cost of the project with a break-up of the capital expenditure and the working capital requirements for one cycle
  1. In case, there is no need for any working capital, then an approval of such breakup is required from the regional office or Controller of the bank branch.
  2. Applicants can include the cost of leasing or renting any work-shed or workshop, provided the total of such rent / lease is not for more than 3 years.
  3. The cost of land cannot be included in the project cost.
  4. 10% of the project cost should comprise the applicant’s own contribution for general category; for the weaker section, 5% of the project cost should be one’s own contribution.

PMEGP e-portal provides access to the applicants to apply for the PMEGP registration online by filling and submitting the application form online at https://www.kviconline.gov.in/pmegp.jsp

PMEGP loan helpline number is 1800 3000 0034 and to get state-wise contact number, applicants can visit the official website by clicking here. https://www.kviconline.gov.in/pmegpeportal/pmegphome/index.jsp

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

PMEGP Loan Details

The below sections look at different aspects of the PMEGP Loan, from percentage share of each party in the allocation of funds to interest rate and tenure.

  • PMEGP Loan Allocation: Here is a look at the breakup of the money that is given under a PMEGP Loan
  1. Once the application is approved, the bank allocates 95% of the project cost (for weaker sections of society) or 90% (for general applicants).
  2. Of this, 15-35% is the margin money or subsidy that is provided by the government. The amount of margin money that will be taken by banks will be proportional to the actual capital expenditure availed by the applicant. The rest of the margin money that is proportional to the amount not availed will be returned to the Khadi and Village Industries Commission (KVIC).
  3. The rest of the funds (i.e. 90/95% of funds allocated less 15-35% subsidy) is provided by the bank as a term loan or PMEGP loan.
  • Rate of Interest: The rate of interest on the PMEGP loan will be at a normal rate as applicable to the MSE sector.
  • Tenure of the PMEGP Loan: After an initial moratorium (that usually does not exceed 6 months), the bank may provide a repayment schedule of 3 years for the borrowers to pay back the PMEGP loan
  • Margin Money / Subsidy: The margin money is kept in a separate savings account that is linked to the loan account, and locked in for a period of 3 years, after which it is adjusted with the PMEGP loan or released 
  • Working Capital Requirements: The PMEGP loan requires that the working capital expenditure be equal to the cash credit limit at least once in the three years after the margin money is locked in. Moreover, it should not be less than 75% utilisation of the sanctioned limit.
  • Indicative Sectors for Which PMEGP Loan is Given: The PMEGP loan is given for enterprises in the following sectors:
  1. Agro-based Food Processing
  2. Forest-based Products
  3. Hand Made Paper and Fibre
  4. Mineral-based Products
  5. Polymer and Chemical-based Products
  6. Rural Engineering and Bio-Tech
  7. Service and Textile

Frequently Asked Questions (FAQs) on PMEGP Loan

Here are a few common queries that people have on a PMEGP loan:

Q. Who can take a PMEGP loan?
Ans. PMEGP loan can be taken by individual entrepreneurs, Self-Help Groups (SHGs), Institutions, Co-operative societies and Trusts.

Q. Are there any age restrictions on taking a PMEGP loan?
Ans. The Prime Minister’s Employment Generation Programme (PMEGP) mandates that applicants be at least 18 years of age. There are no upper age limits, though banks may use their own criteria to prescribe an upper age limit.

Q. Are there any education restrictions on taking a PMEGP loan?
Ans. The beneficiary must have studied and passed class 8, if they want to establish a manufacturing unit costing over Rs. 10 lakh or a service unit costing over Rs. 5 lakh with a PMEGP loan. This implies that in case the cost of the manufacturing unit is less than Rs. 10 lakh or that of the service unit is less than Rs. 5 lakh.

Q. Can a person living in an urban area take a PMEGP loan?
Ans.Yes, he or she can. The PMEGP loan scheme is available to all eligible applicants, no matter where they stay. There are certain restrictions, however, on how much subsidy one can get. For instance, the subsidy for the general category is 15% in urban areas, while it is 25% in rural. For the weaker sections of society, it is 25% in urban areas and 35% in rural.

Q. What is the maximum PMEGP loan I can get?
Ans. The maximum cost of project allowed is Rs. 25 lakh in the manufacturing sector and Rs. 10 lakh in the business or service sector.

Q. What is margin money under a PMEGP loan? How does it benefit me?
Ans. Margin money refers to the subsidy you get from the Khadi and Village Industries Commission (KVIC). It is the amount that the government contributes to your business under the PMEGP loan. This margin money is given to the bank and is subject to a lock-in period of 3 years.

Q. Will the bank give me the margin money?
Ans. Yes, the bank gives you the margin money after the lock-in period, provided you have used your funds, as per the guidelines provided by the bank.

Q. Are there any guidelines on fund utilisation?
Ans. The PMEGP loan requires that the working capital expenditure be equal to the cash credit limit at least once in the 3 years after the margin money is locked in. Moreover, it should not be less than 75% utilisation of the sanctioned limit.

Q. What is the project cost?
Ans. The project cost is the break-up of the capital expenditure and the working capital requirements for one cycle. It also includes the cost of leasing or renting any work shed or workshop, provided the total of such rent / lease is not for more than 3 years. 10% of the project cost should comprise of the applicant’s own contribution for the general category and 5% of the project cost should be one’s own contribution for the special category. The cost of land cannot be included in the project cost.

Q. I do not have any working capital expenses. Will I be able to get a PMEGP loan?
Ans. Yes, you can. You need an approval of the breakup without working capital from the regional office or controller of the bank branch.

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