Atmanirbhar Bharat Loan Schemes 2020 Application Forms

Atmanirbhar Bharat Loan Schemes 2020 Application / Registration Forms (Check how to fill  application / registration forms, apply online for MSME loan, KCC loan, street vendors loans, mudra shishu loans, PMAY CLSS home loan scheme)

Due to nationwide lockdown, most of the business sectors are experiencing a major setback. Owing to this, the central government has decided to come up with effective plans to revive the economy. For this, rupees 20 lakhs economic packages will be offered in the name of the Atmanirbhar Bharat Abhiyan scheme. This shall help the Indian citizens to become self-reliant. Under this, citizens can avail of different loan schemes for different sectors.

The different types of schemes are MSME loans, Street Vendors loans, Shishu Mudra loans, Kisan Credit Card (KCC) loans, PM Awas Yojana Credit Linked Subsidy Scheme (PMAY-CLSS) loans and others. Citizens of India can opt for the schemes through Union government of India.

However, the interested candidates who wish to avail of the scheme benefits need to apply for it through the official portal. They need to fill up the registration form with correct details. The Minister of Finance and Corporate Affairs of India, Nirmala Sitharaman has announced for the economic assistance of rupees 20 lakhs on the 17th May 2020. 

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Atmanirbhar Bharat Loan Schemes 2020 Apply Online Form

The scheme by PM Modi will be given in 5 doses as on the 13th, 14th, 15th, 16th and 17th of May, 2020. Under the scheme package, the government is inviting the online application process for the interested applicants.

MSME loans –

Under the above-said scheme, the central government has detailed about offering financial help to the micro, small and medium-sized businesses with rupees 3 Lakhs. The collateral-free loan will be offered to the above said enterprises for four years with a moratorium of one year. As a result of this, a total of 12 crores workers engaged in different sectors will be benefitted. The business loan decided by the central government will also benefit the startups in modernization, upgrade, and appropriate business modification. Some of the conditions for which the loan will be given are listed below.

  • Factory purchase, building construction, land acquisition and the like
  • Investing for items related to plant and machinery such as testing items, electric fixtures, furniture, lab utensils, equipment and others
  • The financial assistance shall help to facilitate stock-in-progress, finished items, buy raw materials and other items.
  • It shall also offer monitory help for different business purposes
  • In case of launch of new products, warehouse needs, business expansion, marketing and other business purpose, the financial help will be given
  • Money will be given to make payments to the creditors

The interested candidates have to visit the link and click on the correct loan option to apply online. Through this, the applicants get almost rupees 10 crores for the business assistance.

Following this, the page will show up where candidates can apply for the MSME loans entering the correct details. However, depending on the geographic location, you can select from the given options that can access your online application. In this way, it would be easy for you to select a suitable lender who can offer you financial help. The online application is available for round the clock. Fill up the online form with the correct details based on which you will be given the financial help under the above-said scheme.

Different types of MSME loan

  • The MSME loan scheme is available up to 31st October 2020. Finance Minister Nirmala Sitharaman said that the MSME with annual turnover rate of rupees 100 crores or less are eligible to get the government free loans on the first batch on the 13th of May, 2020.
  • The Subordinate debt based scheme has come up for NPA MSME covering up for almost 2 lakhs business enterprises. For this, a total of rupees 20, 000 crores have been given by the central government.
  • For the business owners with suitable potentiality, a total of rupees 50, 000 crores funds would be created by the higher authorities for equality.

The MSMEs would be given financial help depending on the amount of investment and the turnover size. With these, there will be no such difference between the service providing MSME and the manufacturing units. In addition to this, it has been announced that any global tender up to rupees 200 crores will not be considered. Even, there will be the use of e-market linkage that shall help promote the E-commerce business.

Kisan Credit Card (KCC) Loans

On the purpose of extension of Kisan Credit Card (KCC) scheme initiated by the central government, a total of 2 lakh crores will be offered. This will cover up for almost 2.5 crores farmers that include husbandry and fishery farmers. To avail of the scheme benefits, the applicants have to go through the online registration procedure.

  • The interest rate may fall to even 2.00%
  • The banks will not offer security on any loans up to rupees 1.60 lakhs
  • Insurance coverage will be offered for any crop damage due to natural calamities
  • Coverage for reasons such as death, disability, or related risks will be offered to farmers under the above said scheme
  • The tenure of loan repayment would be decided on the harvesting crop and the extent of marketing of the crops. A single card holder can get up to a maximum of rupees 3 lakhs of loan amount
  • The farmers depositing money under the Kisan Credit Card account will be given high interest rate. This apart, any prompt payment will be charged based on simple interest rate.
  • To go through online application, one has to go through the link and click on the application form under the Kisan Credit Card
  • Farmers belonging to the age group of 18 to 75 are eligible to apply under the above said scheme. When the candidate is 60 years of age, he or she could have a co-borrower who will be treated as legal heir.
  • In the scheme, farmers, tenants, oral lessees, owners and sharecroppers are eligible to avail of the benefits.

Other than this, additional initiatives have been targeted by the central government for the help of the poor farmers. Some of these are listed below.

  • PM Matsya Sampada Yojana–Rupees 20,000 crores
  • Farm Based Infrastructure –Rupees 1 lakhs crores
  • Micro Food enterprises–Rupees10,000 crores
  • FMD Livestock Disease Control Scheme- Rupees 13, 000 crores
  • Animal Husbandry Infrastructure Development Fund – Rupees 15000 crores
  • Promotion of Bee keeping – Rupees500 crores
  • Promotion of herbal cultivation – Rupees 4000 crores
  • TOP to Total: Operation Greens – Rupees500 crores

CLSS Loans under PM Awas Yojana

The Credit Linked Subsidy Scheme will be offered to individuals belonging to the poor sections of the society under the PM Awas scheme. It includes both MIG 1 with rupees 6 to rupees 12 per annum and MIG 2 including rupees 12 top rupees 18 lakhs yearly. The scheme was scheduled to end on 31st March, 2020 but extended till 31st March, 2021. Under this, a total of 3.3 lakhs of families can avail of the benefits. In addition, 2.5 lakhs of MIG candidates can get the perks within the coming year. Therefore, by successful implementation of the scheme, it will create employment opportunities; there will be increased demand for steel, transport, cements and other construction related items. The procedure to apply through online registration form is given below. 

  1. Visit the portal CLick here and choose the ‘Benefits under other 3 components’ option. It is available under the ‘Citizen Assessment Section.’
  2. On the home page of the link, one has to enter virtual ID, name, Aadhaar details, and then click on the check option.
  3. To get the detailed information, one has to click on the PMAY CLSS MIG Loan Application / Registration Process link

However, the extension of the scheme aiming for the MIG people will require an additional rupees 70, 000 crores to cover up for the housing sector in India.

Details of the Street Vendors Loan Scheme

The street vendors are worst affected due to the outbreak of the pandemic of COVID-19. Due to this, the central government has come up with the Street Vendors Loan Scheme offering financial help. An initial amount of rupees 10, 000 will be given that would cover up almost 50 lakhs of poor street sellers. However, a total amount of rupees 5000 crores would be offered by central government under the scheme. The financial help would be offered by means of digital payment and monetary rewards would be introduced. Even for better repayment by the vendors, high credit facility will be offered.

However, the official portal related to the scheme is yet to be launched by the authorities and as soon as it comes up the online procedure would also be declared. As of now, an immediate help of rupees 10, 000 would be given to the workers and these would be given as short term loans as it would be given for short tenure so that they can fulfill their requirements.

Shishu Loans under MUDRA Yojana

The MUDRA small business are badly impacted due to the pandemic outbreak and extended lockdown sessions. As they are unable to repay the monthly EMIs, the above said loan has been granted by RBI. Under the scheme rupees 1500 crores loan assistance will be given. It is offering loans of rupees 1.62 lakhs crores and charges 2% interest for the prompt payees who are able to return within 12 months.

However, the interested candidates willing to avail of the benefits under Atmanirbhar Bharat Abhiyan package have to opt for online registration.

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