Loan for business: How to apply for loan under PM Vishwakarma Yojana; check loan amount, eligibility, application process 

Pradhan Mantri Vishwakarma Yojana: As of 5 pm on Tuesday, approximately 2.59 crore individuals have submitted applications to avail of the benefits offered by the Pradhan Mantri Vishwakarma Yojana. Following three rounds of verification, the registration process for around 23.97 lakh applicants has been successfully completed. Detailed information regarding this progress can be accessed on the official website of the Pradhan Mantri Vishwakarma Yojana at pmvishwakarma.gov.in.

The PM Vishwakarma Yojana, implemented by the Government of India, aims to offer comprehensive assistance to artisans and craftsmen. This scheme provides artisans with collateral-free credit, skill training, and low-interest loans without requiring any guarantee. Additionally, beneficiaries of the PM Vishwakarma Yojana receive toolkit incentives, marketing support, and incentives for digital transactions.

PM Vishwakarma Yojana

According to the government, the PM Vishwakarma Scheme 2024 has been designed with the objective of enhancing the quality, scope, and accessibility of products and services offered by craftsmen. 

This initiative aims to provide economic empowerment to various skilled workers including laundry workers, potters, tailors, goldsmiths, blacksmiths, weavers, and sculptors. The scheme will benefit traditional artists and craftsmen such as weavers, goldsmiths, blacksmiths, potters, tailors, sculptors, washermen, masons, garland makers, and many others, totaling 30 lakh individuals nationwide.

Under the Vishwakarma Scheme, a platform will be created to facilitate brand promotion and market connections.  

Loan amount

The PM Vishwakarma Yojana offers aspiring entrepreneurs a loan of Rs 1 lakh in the initial phase to kickstart their new business. Subsequently, in the second phase, there is an opportunity to access an additional Rs 2 lakh. 

Additionally, financial assistance of Rs 15,000 is provided. This scheme facilitates a loan of up to Rs 3 lakh at a mere 5 percent interest rate with the objective of fostering entrepreneurship.

Eligibility

For eligibility under the benefits of the scheme, the applicant must be over 18 years of age. 
Candidates belonging to over 140 castes within the Vishwakarma community are eligible under this scheme. 

It is necessary for the applicant to possess a valid caste certificate. 

Businesses related to the scheme should not be operational and no loans should have been obtained at the time of registration for the Pradhan Mantri Vishwakarma Yojana. 

Registration and benefits under the scheme are limited to one family member, with 'family' defined as including the husband, wife, and unmarried children. 

Government employees and their family members are not eligible to receive benefits under this scheme. 

Similar credit-based schemes such as PMEGP, PM Swanidhi, and Mudra Yojana are also not eligible for benefits under the Vishwakarma Yojana.

How to apply

To apply for this scheme, individuals can visit the official website at pmvishwakarma.gov.in. 

The application process will necessitate various documents such as Aadhaar card, PAN card, income and caste certificate, identity card, residence certificate, passport-size photo, bank passbook, and mobile number. 

These documents are essential in ensuring that citizens receive the appropriate financial assistance. The advantages of this scheme can be conveniently accessed from the comfort of one's home, without any associated fees.

Steps to register online

1: You must first visit the PM Vishwakarma Yojana website.
2: To apply for this scheme, go to the official website’s home page and click the Apply button.
3: After that, log in to the CSC portal using your user ID and password. where you will be able to access the application form for this plan.
4: You must first validate this application by entering your Aadhaar number and mobile number. Following that, you must fill out the application form in accordance with the guidelines displayed on the screen.
5: For certain essential documents, you might need to upload scanned copies online. You will then have the choice to download the PM Vishwakarma Certificate; select it and get your certificate downloaded.
6: Your Vishwakarma Digital ID, which you will need to apply for this scheme, is contained in this certificate.
7: Once this is done, you need to click the Login option and provide your registered cellphone number to log in.
8: Following this, the primary application form for this plan will appear before you. You will be requested to provide a variety of information in this, which you must carefully fill out in order to apply for the scheme.
9: Now Enter the Bank Account Details of Artisan ( Account Number Bank Account Name, IFSC Code, Bank Branch Name)
10: Enter Credit Support Details ( Enter Amount and Bank Account).
11: Enter Digital Incentive Details (Artisian UPI ID, UPI ID Linked Mobile Number)
12: Enter Skill Training and Tool Kit Details
13: Accept the Declaration and Terms and Conditions