Under this Scheme, KVIC is acting as a facilitator for financial aid to potters through RBL bank and also providing training to the artisans, opting for this scheme.
There will be no financial burden on the exchequer and the loan will be repaid by the potter in easy installments.
It is a no-subsidy program.
Under the scheme, 780 potters from Uttar Pradesh, Bihar, Rajasthan and Jharkhand have registered for financial assistance from the bank to begin their own business.
What is Pradhan Mantri Mudra Yojana?
The scheme launched in April, 2015 to provide formal access of financial facilities to the Non Corporate Small Business Sector.
Objective: To promote & ensure bank finance to unfunded segments of the Indian economy.
These loans are classified as MUDRA loans under PMMY.
These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.
Types of loans: Loans are given as per the stage of growth and funding needs of the beneficiary micro unit.
Shishu: covering loans up to Rs. 50,000
Kishore: covering loans above Rs. 50,000 and up to Rs.5 lakh.
Tarun: covering loans above Rs. 5 lakh and up to Rs.10 lakh.
