Daijiworld Media Network- Mangalore (SN/SP)

Mangalore, Feb 19: The central government has introduced the Prime Minister’s Employment Generation Programme (PMEGP) under which, loans are provided upto Rs 5 lac without insisting on  any minimum education qualification on the part of the applicant, said M V Hemant Kumar, joint director, District Industries Centre at the scheme awareness programme held at the NGO auditorium here on Wednesday February 18.

The event was jointly organized by Khadi and Village Industries Board, Khadi and Village Industries Commission and District Industries Centre.

This is the simple scheme to provide loans to the unemployed and educational qualification is not at vital for considering loans under the scheme, he said.

The person must have passed at least the eight standard examination so as to be eligible for a loan of upto Rs 10 lac. Altogether maximum of Rs 25 Lac will be provided as loan. But the borrowers must be above 18 years of age whereas there no bar on maximum age, Kumar added.

The scheme is not available for the families who already have availed of loans under government schemes. The general category borrowers need to contribute10 percent of the capital and other categories must employ five percent of capital investment in advance, he explained.

Speaking after inaugurating the programme, Vajrakshi P Shetty, president of the taluk panchayat said that the information on the scheme must be disseminated to the entire village through the gram panchayats.

Formulating a plan is not sufficient, but it must be ensured that it  reaches and benefits the genuine beneficiaries she said.

G Bhaskar Prabhu, officer, district Khadi Village Board, welcomed the gathering.

R Kantaraj, executive officer, taluk panchayat, Uday Kumar Holla, manager, Lead Bank, M G Mohan Kini and K Praveenraj Udupa, assistant manager, NABARD, were present on the occasion.