Pradhan Mantri Credit Scheme for Powerloom Weavers (PMCSP) from the Ministry of Textiles, Government of India under PowerTex India effective from 01.04.2017 to 31.03.2020
To provide financial assistance viz., Margin Money Subsidy and interest reimbursement as against the credit facilities (Term Loan) availed under Pradhan Mantri Mudra Yojana (PMMY) to the decentralized powerloom units / weavers. Margin Money Subsidy as against the credit facilities (Term Loan) availed under Stand-up India Scheme by the SC, ST and Women Entrepreneur of the decentralized powerloom units / weavers to meet their credit requirements such as for investment needs (Term Loan) and for working capital etc.
There are two components in the Scheme i.e.
Category-I under Prime Minister MUDRA Yojana (PMMY) and
Category-II under Stand-up India Scheme.
Category – I (under PMMY) : The eligible units are
Existing individual power loom units or
New individual / group enterprises involved in weaving activity.
Category – II (under Stand-up India Scheme): The eligible units are
Only new power loom units established by a person who belongs to a Scheduled Caste (SC) or Scheduled Tribe (ST) or is a woman entrepreneur.
In case of non-individual units at least 51 % of the shareholding and controlling stake should be held by either an SC (or) ST (or) women entrepreneur.