| SN | PARAMETERS | GUIDELINES OF e-PM VISHWAKARMA |
|---|---|---|
| 1. | Purpose / Type of facility | To provide credit support to the artisans or craftsperson engaged in the activities permitted under the schemes.Working Capital Demand loan (WCDL) |
| 2. | Eligibility | All the applications allocated to the Bank on PM Vishwakarma portal |
| 3. | Loan Amount & Tenure of Loan | 1st Tranche – Maximum loan amount up to ₹1.00 lac with tenure of 18 months. 2nd Tranche – Maximum loan amount up to ₹2.00 lac with tenure of 30 Months. |
| 4. | Eligibility for Second Tranche | i. The beneficiaries who maintain a standard loan account, adopted digital transactions in their business and have undergone Advanced Skill Training of 15 days will be eligible for 2nd tranche. ii. First tranche loan shall be fully repaid andiii. 2nd tranche shall not be granted before six months of the disbursement of first tranche loan |
| 5. | Margin | Nil |
| 6. | Assessment of Limit | Loan amount requested by the borrower subject to maximum amount permitted under the respective tranche as per scheme guidelines. |
| 7. | Collateral Security | The limit will be secured by CGTMSE coverage, the cost of the guarantee fee will be borne by the Government. |
| 8. | Rate of Interest | Fixed ROI @ 13.00% p.a., However, for the standard account ROI @ 5.00% will be charged to the beneficiary and for remaining 8%, Bank at Head Office level will claim interest subvention from Ministry. For NPA accounts, ROI @ 13.00% p.a. shall be charged to Borrower account as no interest subvention will be received for the NPA accounts till the time the account remains in NPA category |
| 9. | Credit Information Report (CIR) | No default in CIR |
| 10. | Disbursement | The loan amount will be disbursed in the operative account of the borrower. |
| 11. | Other features | ➢ Fully digitalized sanction ➢ Instant disbursal in few minutes ➢ No Physical documentation ➢ No processing fees/ No Margin |