Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY)
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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Most Important Terms & Conditions (MITC)
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Benefits
- This Scheme valid for a period of 5 years from FY 2020-21 to 2024-25
- Need based funding looking at the requirement of the project/borrower.
- Low Processing Charges
- Credit Guarantee coverage will be available for eligible borrowers under Credit Guarantee Fund Trust (CGTMSE) scheme for loan upto Rs. 2 crore.
- Provisions for availing subsidy both from Centre & state/UTs together will be limited to 40% of the project/unit cost for general and 60% for SC/ST women.
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Features
Financing under this scheme will cover activities for sustainable development of fisheries sector as under:
- Development of Inland Fisheries and Aquaculture
- Development of Marine fisheries including Mariculture and seaweed cultivation
- Development of fisheries in North-Eastern and Himalayan States/Union Territories
- Development of ornamental recreational fisheries.
- Technology Infusion Adaptation
- Post-harvest and cold chain infrastructure
- Market/Marketing Infrastructure
- Development of deep-sea fishing vessels for traditional fishermen.
- Aquatic health Management
- Monitoring, Control and Surveillance (MCS)
- Strengthening of safety and security of fishermen
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Eligibility Criteria
Eligible Beneficiaries:
Fishers, fish farmers, fish workers and fish vendors, fisheries development corporations, SHGs/JLGs in the fisheries sector, fisheries cooperatives, fisheries federations, entrepreneurs and private firms (i.e., sole proprietorship, partnership, LLP companies, and co-operative societies etc.), fish farmer produce organizations/companies.
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Land Record
- Quotation/Invoice (if available)
- IT Returns (if available)
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Fees & Charges
Processing charges:
- Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
For Working Capital (Fresh/Review)
Fund Based:
- Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250/- Lakh or part thereof +GST
- Above Rs 10 Lakhs- Rs 350/lakh or part thereof maximum Rs 35.00 Lakhs
Non Fund Based:
- 50% of charges Applicable for Fund Based Limit (Cap for Priority Sector Rs 17.50 lakhs and for exporters Rs 7.50 lakhs
For Term Loan
- Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.
Inspection Charges:
- Agriculture exposure upto Rs. 3.00 Lakhs- Nil
- Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
- Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
- Above Rs 1 Crore - Rs 5000
Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Most Important Terms & Conditions (MITC)
Quantum of Limit | Need based Funding |
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Validity of Scheme | As per Govt. directives, the Scheme will be implemented in all states and union territories for a period of 5 years from FY 2020-21 to 2024-25 |
Type of Facility | Cash Credit /OD/Demand Loan/ Term Loan LC & BG |
Loan tenure | The term loan to be payable in 3-15 Years (including the moratorium period of Minimum of 6 months and Maximum of 2 years period.)% |
Repayment | Repayment can be fixed monthly/ quarterly/ half yearly/ yearly based on the cash flow of project. |
Margin | 15% |
Moratorium Period | Moratorium period of minimum of 6 months and maximum of 2 years period based on project |
Security |
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Rate of Interest |
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Funding Pattern | Centrally Sponsored Scheme (CSS): In case of Beneficiary orientated i.e individual /group activities sub components/activities under CSS component to be implemented by the states/UTs the government financial assistance of both Centre & state/UTs together will be limited to 40% of the project/unit cost for general and 60% for SC/ST women. |