Page 34 - Banking Finance April 2023

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seeds, oil seeds, coconuts, beverages, milk, meat, poultry creating a new opportunity. In the initial year the
and marine products. eligibility is for Rs.10000.00 for one year tenure. If the
vendors are regular in their repayments, they will be
c. Agriculture Infrastructure Fund (AIF): The scheme is
eligible for the next cycle of loan with the enhanced
available to mobilize a medium/long term debt finance
limits in second and third and tranches for Rs.20000 and
facility for investment in viable projects for post-harvest
Rs.50000.00 respectively.
management Infrastructure and community farming
assets. The scheme is helping in improving the e. Self-Employment Scheme for Rehabilitation of
marketing infrastructure to allow farmers to sell directly Manual Scavengers (SRMS): Under the scheme
to a larger base of consumers and in turn increase value identified manual scavengers, one from each family
realization for the farmers. would be eligible for One Time Cash Assistance (OTCA)
of Rs.40,000.00 or any such amount as OTCA as revised
Under the category III for the Business Activity from time to time. If the applicant is eligible under the
Loans, the following 6 schemes are covered: scheme, the manual scavenger and the dependents
shall be provided, free of cost, skill training of their
a. Prime Minister's Employment Generation Programme
choice from trainings organized by the National
(PMEGP): This scheme aims to generate the
SafaiKaramcharis Finance and Development Corporation
employment opportunities in rural as well as in urban
(NSKFDC). The Urban Local Bodies (ULBs) is to provide
areas by setting up of new self-employment business.
mechanized cleaning contracts to them and also issue
The scheme is bringing widely dispersed rural and urban
job guarantee to concerned banks.
unemployed youth and giving them self-employment
opportunities to their own place. It will help to increase f. Stand Up India Scheme (StandUpIndia): The scheme
the wage-earning capacity of artisans and contributing is for provision of collateral free loans to the applicants.
to increase in the growth rate of rural and urban The objective of the scheme is to facilitate bank loans
employment. between 10 lakh and 1.00 crore to at least one
Scheduled Caste (SC) or Scheduled Tribe (ST) borrower
b. Weaver Mudra Scheme (WMS): It aims to provide
with focus on woman borrowers.
adequate and timely assistance from the Banking
institutions to the weavers to meet their credit
requirements. The scheme benefit is available for Under the category IV for the Livelihood Loans, the
weavers, ancillary workers involved in weaving following only one scheme is covered:
activities. Under the scheme the preference will be a. Deendayal Antyodaya Yojana - National Rural
given to weavers identified under third census of Livelihoods Mission (DAY-NRLM): It is flagship program
handloom weavers as well as weavers identified by the of Govt. of India for promoting poverty reduction
state government. through building strong institutions of the poor,
particularly women, and enabling these institutions to
c. Pradhan Mantri MUDRA Yojna (PMMY): This is the
access a range of financial services and livelihoods. It is
most popularized scheme for small business
need base loan either in the form of Term Loan or Cash
entrepreneurs to create an inclusive, sustainable and
Credit. In case of further need, additional loan may be
value based entrepreneurial culture. The main objective
sanctioned even though the previous loan is
of the scheme is to promote the entrepreneurship
outstanding, based on the repayment behavior and
among the new generation aspiring youth. To meet the
performance of the borrower.
requirements of different sectors / business activities as
well as business segments, three different products are
offered named Shishu, Kishore and Tarun. These The Portal and the process:
schemes help in the growth and development of micro To provide the comfort to borrowers, the government in
enterprises. 2018 had launched a portal psbloansin59minutes.com for
d. Pradhan Mantri Street Vendor Aatmanirbhar Nidhi various kinds of the credit products; including MSME, home,
Scheme (PM SVANidhi): For uplifting the economic auto and personal loans. The portal facilitates in-principle
ladder, scheme is formalized for the street vendors for approval of loans for MSMEs and other borrowers in 59

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