What is Pradhan Mantri Matsya Sampada Yojana (PMMSY)?

Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a scheme to bring about is designed to address crucial gaps in fish production and productivity, quality, technology, post-harvest infrastructure, management, modernization and strengthening of value chain, traceability, establishing a robust fisheries

Can I avail a loan under the PMMSY scheme for fish farming?

Yes, you can apply for a loan under PMMSY scheme for fish farming, production and infrastructure management.

Is the PMMSY scheme only for commercial fish farming or can individuals also apply?

Both individuals and commercial fish farmers can apply for Pradhan Mantri Matsya Sampada Yojana (PMMSY). There are other criteria’s as well, check the list below:Fisheries development corporationsSHGs/ JLGs in fisheries sectorFisheries co-operativesFisheries federationsOther private firms

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Scheme for Financing Pradhan Mantri Matsya Sampada Yojana (PMMSY)

Benefits
Features
Eligibility Criteria
Document Required
Fees & Charges
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
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	Hypothecation of movable structures/equipment/machinery/purchased or created out of banks finance. Mortgage of fixed assets land and buildings Hypothecation of stock and book debts Personal guarantee of proprietors/partners/promoters/directors etc. Charge on fixed and current assets created out of bank finance Any other security acceptable to bank
Rate of Interest	For limit up to Rs 2 crores: One Year MLCR + 100 basis point. For limits above Rs. 2 crores: Rate of interest ranging from MCLR + SP + 0.30% p.a. to MCLR + SP + 2.25% p.a. based on internal credit rating and immovable security coverage)
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.

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What is Pradhan Mantri Matsya Sampada Yojana (PMMSY)?

Pradhan Mantri Matsya Sampada Yojana (PMMSY) is a scheme to bring about is designed to address crucial gaps in fish production and productivity, quality, technology, post-harvest infrastructure, management, modernization and strengthening of value chain, traceability, establishing a robust fisheries management framework and fishers' welfare.
Can I avail a loan under the PMMSY scheme for fish farming?

Yes, you can apply for a loan under PMMSY scheme for fish farming, production and infrastructure management.
Is the PMMSY scheme only for commercial fish farming or can individuals also apply?
Both individuals and commercial fish farmers can apply for Pradhan Mantri Matsya Sampada Yojana (PMMSY). There are other criteria’s as well, check the list below:

Fisheries development corporations

SHGs/ JLGs in fisheries sector

Fisheries co-operatives

Fisheries federations

Other private firms including LLP companies, partnerships and sole proprietorships.