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Benefits

Purpose

To provide credit support to the artisans or craftsperson engaged in the activities permitted under the schemes.

To provide support for better and modern tools to enhance their capability, productivity, and quality of products.

To provide the beneficiaries an easy access to collateral free credit and reduce the cost of credit by providing interest subvention.

Eligibility

Artisans or craftsperson working with hands and tools and engaged in traditional family-based specified trades, self employed in the unorganized sector.

Minimum Age: 18 years at registration.

Loans available only for government-specified activities.

Must be engaged in the trade at registration time and not have availed similar loans from Central/State Government schemes in the past 5 years (exceptions for repaid MUDRA an SVANidhi loans).

Must undergo Skill Verification and complete 5 days of Basic Skill Traninig to be eligible for the first credit support tranche of up to Rs. 1 lakh.

Post verification, artisans receive Digital ID, PM Vishwakarma Digital Certificate, and PM Vishwakarma ID Card for recognition and scheme benefits.

Only one family member (husband, wife, unmarried children) eligible for registration and benefits.

Government service members and their families are not eligible.

Government agencies will verify all criteria before forwarding the application to the bank via the SIDBI portal.

Other Features

Only applications received through Vishwakarma portal will be entertained.

Udyam Registration No. is mandatory.

No Collateal security requred.

The limit will be secured by CGTMSE coverage .

Working Capital Demand Loan (WCDL) Tranches:
1st Tranche: Upto Rs.1.00 lakh, 18-month tenure.
2nd Tranche: Upto Rs.2.00 lakh, 30-month tenure.

Applicant should be KYC compliant with our Bank,based on Aadhar in CBS.

Nil margin & upfront fees for documentation and inspection.

CIC scoring will be provided by SIDBI and there will be no criterion of minimum score.

ROI- For Standard Accounts-5%, after Interest subvention from Ministry

e-PM Vishwakarma

Loan application can be applied online through PNB website or PNB ONE APP or https://pnbvishwakarma.mypnb.in.

Fast processing without any paper work

No branch visit required.

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