Indian Government Schemes for Small Businesses and Startups [Video]

1. Pradhan Mantri Mudra Yojana (PMMY)

Launched in 2015, PMMY aims to provide collateral-free loans up to ₹10 lakhs to non-corporate, non-agricultural small/micro enterprises.
The scheme categorizes loans into three categories based on loan amount:
Shishu (up to ₹50,000)
Kishor (up to ₹5 lakhs)
Tarun (up to ₹10 lakhs)
Loans under PMMY are provided by banks, NBFCs, and MFIs.
The interest rates on PMMY loans are determined by the lending institution.

2. Stand-Up India Scheme

Launched in 2015, Stand-Up India aims to promote entrepreneurship among Scheduled Castes (SCs), Scheduled Tribes (STs), and women by facilitating bank loans between ₹10 lakhs and ₹1 crore.
The scheme is implemented through Scheduled Commercial Banks (SCBs).
Loans under Stand-Up India are collateral-free.
The interest rates on Stand-Up India loans are determined by the lending institution.

3. Prime Minister Employment Generation Programme (PMEGP)

Launched in 2008, PMEGP is a credit-linked subsidy scheme that aims to generate employment opportunities in rural and urban areas.
The scheme provides subsidies of up to 35% on the project cost for micro enterprises and up to 30% for khadi and village industries.
The maximum project cost for manufacturing units is ₹50 lakhs and for service units is ₹20 lakhs.
Loans under PMEGP are provided by banks, NBFCs, and MFIs.
The interest rates on PMEGP loans are determined by the lending institution.

4. Credit Guarantee Scheme

The Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE) was launched in 2000 to provide guarantees to banks and financial institutions on loans extended to micro and small enterprises (MSEs).
The scheme covers loans up to ₹5 crore.
The guarantee cover is up to 75% for loans up to ₹2 crore and 80% for loans above ₹2 crore.
The scheme is implemented by the National Credit Guarantee Trustee Company Limited (NCGTC).

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