In the wake of the COVID-19 lockdown as most of the working sectors in India are facing crunch, so central govt. has decided to revive the economy. This is done by announcement of a Rs. 20 lakh crore economic package for Atmanirbhar Bharat Abhiyan to make India self reliant. In this Aatmanirbhar Bharat Abhiyan package, govt. has announced a number of loan scheme for various sectors. Here we are going to tell you about how to apply online for Atmanirbhar Bharat Loan Schemes.
These loan schemes under the Self Reliant India campaign includes MSME loans, Kisan Credit Card (KCC) loans, Street Vendors loans, Shishu Mudra loans, PM Awas Yojana Credit Linked Subsidy Scheme (PMAY-CLSS) loans etc. Now people can apply for these loan schemes by the Union government of India.
For this, interested applicants will have to fill Atmanirbhar Bharat Loan Schemes application / registration form.
Atmanirbhar Bharat Loan Schemes Apply Online Form
PM Modi’s Vision of Rs. 20 lakh crore package has been announced in 5 tranche economic doses on 13th, 14th, 15th, 16th and 17th May. Below is the direct apply online process to avail benefits of various loan schemes announced in different tranches of Atmanirbhar Bharat Abhiyan package.
MSME Loans
The central govt. has made a a provision of Rs. 3 lakh crore for Micro, Small and Medium Enterprises sector. In this MSME loan scheme, govt. will provide collateral free loans to facilitate MSMEs. These loans will have 4 years tenure and will get moratorium of 12 months from which approx. 12 crore workers would be benefited. These business loans can be used for setting up new enterprise or stepping up (expansion, diversification, modernization, technology up-gradation). These can be for:-
- Acquisition of factory, land and construction of building spaces.
- Purchase of Plant and Machinery including lab equipment, testing equipment, furniture, electric fittings etc.
- Meeting working capital requirements like raw materials, stock-in-progress, finished goods, etc.
- Trade Finance (Bill discounting) for paying the creditors, while awaiting payment from debtors.
- Launch of new product range, expansion of business, warehousing need, credit for marketing and advertising purpose.
- Additional monitory assistance for any eligible purpose.
- To apply online, click at the link – https://www.udyamimitra.in/MSMELoan. At this page, click at the “Please Click here for applying loan on your chosen portal www.udyamimitra.in upto Rs 10 crore under MSME which is accessible by 145+ lenders (Banks / NBFCs / SFBs/ FinTechs)“
- Direct Link – https://site.udyamimitra.in/Login/Register
- You will have choices of wider range of lenders (Banks / NBFCs / SFBs/ FinTechs) who can access your application and according to your geographic location the nearest lender may approach you or a fintech from another city may also touch base you. This means you can apply online 24/7. You can apply even in your spare time at leisure. If you have your budget / documents / information ready, you will find the application forms are easy to fill in.
MSMEs can avail of the MSME Loan scheme until 31 October 2022 . While announcing the first tranche of the governments stimulus package on May 13, Finance Minister Nirmala Sitharaman said that MSMEs, with an annual turnover of Rs 100 crore or less, will be eligible to receive these collateral-free government-backed loans. Moreover, govt. has also announced Subordinate Debt based scheme of Rs. 20,000 Crore for Stressed and NPA MSME to benefit around 2 lakh stressed and NPA MSMEs. A new Fund of Funds worth Rs. 50,000 crore would be created for equity infusion into those who have potential and doing viable business.
The definition of MSMEs would be changed with an increase in investment limit and size along with turnover size. Moreover, the differentiation b/w manufacturing and service MSME will be removed. Now, all the global tender upto Rs. 200 crore to be disallowed and govt. procurement tenders upto 200 crore will no longer be on global tender group. E-market linkage would also be provided across the board in absence of trade fairs to promote e-commerce. Within 45 days, CPSEs and Govt. of India will clear their receivables.
Kisan Credit Card (KCC) Loans
Around Rs. 2 lakh crore concessional credit would be extended for Kisan Credit Card (KCC) Scheme by the central government. Around 2.5 crore farmers to benefit from this KCC scheme. Fisheries and animal husbandry farmers will be included in KCC Scheme. People can take the following benefits by applying online for KCC Scheme.
- The Interest rate offered on the loan may go as low as 2.00%.
- Banks will not seek security on loans up to Rs. 1.60 lakh.
- Crop insurance coverage against a variety of natural calamities is given to the users.
- Farmer is provided insurance coverage against permanent disability, death, other risks is also provided to the farmer.
- The repayment period is decided on the basis of harvesting of crop and its marketing period. Maximum loan upto Rs. 3 lakh can be availed by KCC card holder.
- Farmers that deposit their money in the Kisan Credit Card account will get a high rate of interest. Moreover, farmers are charged simple interest rate when they make prompt payment.
- To apply online, click the link https://pmkisan.gov.in/Documents/Kcc.pdf to open single page Kisan Credit Card (KCC) application form.
CLSS Loans under PM Awas Yojana
Credit Linked Subsidy Scheme (CLSS) loans would be provided under PM Awas Yojana to the lowest strata of middle income group. It includes MIG 1 (Rs. 6 to 12 lakhs per annum) & MIG 2 (Rs. 12 to 18 lakhs p.a). PMAY CLSS scheme which was started in May 2017 and which ends on 31 March 2020 has now been extended till March 2021. Around 3.3 lakh families have already been benefited till now from PMAY CLSS scheme. Now another 2.5 lakh MIG group people will benefit from PMAY CLSS scheme in the next 1 year. This scheme will result in immediate job creation and will also raise demand for construction material such as steel, cement, transport and other house construction materials. To apply online, follow the below mentioned process:-
A) People can apply online for PMAY CLSS MIG through the official website https://pmaymis.gov.in/ and then selecting “Benefits under other 3 components” link under “Citizen Assessment section.
B) Direct Link to Apply Online: https://pmaymis.gov.in/Open/Check_Aadhar_Existence.aspx?comp=b
C) At this page, enter your Aadhar number or Virtual ID and Name as per Aadhar Card and click the “Check” button. If your aadhaar number and name matches, then the PMAY CLSS MIG Loan.
D) For complete process and detailed information, click – PMAY CLSS MIG Loan Application / Registration Process
This extension of PMAY CLSS Scheme for MIG households will lead to investment of over Rs. 70,000 Crores in housing sector in India.
Street Vendors Loan Scheme
There is an adverse impact on the livelihoods of the street vendors due to COVID-19. Government will launch a special scheme within a month to facilitate easy access to credit to street vendors. The Initial working capital upto Rs. 10,000 would now be provided to support nearly 50 lakh street vendors. Digital payments will be incentivized through monetary rewards and enhanced working capital credit would be made available for good repayment behavior. The central govt. will provide liquidity of Rs 5000 crores.
As soon as the official web portal of the Special Loan Scheme for Street Vendors will launch, we will update the apply online process here. Till date, it is known that Rs. 10,000 immediate loans would be provided to street vendors to assist them in their working. All of these would be short term capital loans i.e those which would be provided for a shorter duration to meet daily needs.
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