CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
The Government of India has taken many initiatives to boost the village industries and the production and market of Khadi. It has set up a separate commission in this regard to boost the employment opportunities as well as assist in procuring and processing of Khadi and other village industries.
Khadi and Village Commission was set up by the Government of India with a view to assist in building up reserves of raw materials for supply to the producers as well as their processing and thereby creating employment opportunities in the rural sector.
The Government provides loans or grants to the eligible applicants to meet their business needs.
About Khadi and Village Industries Commission
The Government of India has launched the Khadi and Village Commission as part of the Ministry of the MSME. This commission was launched mainly for the promotion and upbringing of the khadi industry and various other village industries. Some of the objectives of the KVIC are mentioned below,
The various functions of the KVIC in pursuing their objectives are mentioned below.
The eligible agencies that can provide assistance to the borrowers in the form of term loans are listed below.
The eligible applicants that can avail the benefits of the KVIC assistance in the form of term loans are the following individuals or non-individuals. The main criterion for individual applicants is the minimum age of 18 years and minimum education of 8th standard.
The other eligible non-individuals are,
The documents required for loans under KVIC are listed below.
The government has provided many means or forms of assistance under KVIC in the form of various schemes that are best suited for the borrowers’ individual needs. Some of the schemes of the KVIC are mentioned below.
This is the flagship scheme of the KVIC that aims to generate ample employment opportunities for the rural as well as urban areas. The assistance is provided in the form of Government subsidies and the basis of the allocation of these subsidies is the category of the beneficiaries (general or special)n as well as the Location of the beneficiary (urban or rural). The borrowers have to come up with the prescribed minimum margin money for loans under PMEGP. These loans are for a minimum lock-in period of 3 years and a maximum period of 7 years at a rate of interest ranging from 11% to 12% depending on various factors as per the lender and Government guidelines.
The percentage of subsidy and the margin money to be furnished are mentioned below.
Margin money to be provided
The maximum amount of loans under this scheme is Rs. 25,00,000 for manufacturing sector and Rs. 10,00,000 for service or business sector.
Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
This scheme was launched in the year 2005 as part of boost to the MSME sector. It was aimed at providing a common platform for the traditional artisans and industries in generation of competitive atmosphere and to provide long-term sustainability to them. The maximum financial assistance under SFURTI is Rs. 8,00,00,000.
Interest Subsidy Eligibility Certificate (ISEC)
This is one of the prime schemes under the KVIC for the MSME sector. It is applicable for all the eligible and registered institutions under KVIC. The scheme provides finance at a concessional rate of 4% per annum for working capital requirements. It mobilizes funds from the banking institutions to bridge the funding gap in relation to budgetary allocations.
Market Promotion Development Assistance
This scheme is aimed to provide promotional services and developmental opportunities or assistance to the Khadi and village industries. The assistance provided under this scheme is in the following percentage.
Khadi Reform and Development Programme (KRDP)
This scheme was launched with the aim to
The main focus of this scheme is on Repositioning of Khadi and to link it to market requirements as well as to provide selective subsidy.
1. How to apply for loans under KVIC?
The applicants can apply for the loans under KVIC by directly approaching the commission.
2. What are the main objectives under KVIC?
Some of the main objectives of KVIC are generation of a strong and active rural community, generation of self reliant and self sufficient village or rural units, employment generation in rural areas, to promote artisans and handicrafts thereby producing saleable products.
3. Is PMEGP part of KVIC?
PMEGP is a Government scheme launched to provide easy financing options with subsidies from the Government and is governed or implemented by KVIC.
4. What is KVIB?
Khadi and Village Industry Boards (KVIB) is one of the implementing agencies in the State under the KVIC.
5. What is the maximum financial assistance under SFURTI?
The maximum assistance provided to eligible applicants under SFURTI is Rs. 8,00,00,000.
Atal Innovation Mission
Bank Credit Facilitation Scheme
Coir Udyami Yojana
Mahila Samriddhi Yojana
National Skill Development Corporation
National Small Industries Corporation
Pradhan Mantri Kaushal Vikas Yojana
Pradhan Mantri Mudra Yojana
Pradhan Mantri Rojgar Yojana
Prime Minister Employment Generation Programme
Small Industries Development Bank Of India
Stand Up India Scheme
Unemployed Youth Employment Generation Programme
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application