State Level Bankers Committee

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Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Pradhan Mantri Jan-Dhan Yojana (PMJDY) under the National Mission for Financial Inclusion was launched initially for a period of 4 years (in two phases) on 28th August 2014. It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension. The Bank accounts opened under PMJDY do not require minimum balance.

Under Central Government initiative, banks have conducted special campaigns for coverage of all the adult population for financial inclusion. Any adult citizen found to be not having a bank account may be directed to the nearest banking outlet for opening bank account to enable him/her to avail the various benefits and also for DBT (Direct Bank Transfer) benefits of Central and State Governments.

PMJDY has provided a platform for the three social security schemes viz. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY) and Pradhan Mantri Mudra Yojana (PMMY).

The Government has decided to extend the comprehensive PMJDY program beyond 28.8.2018 with the change in focus on opening accounts from “every household” to “every adult”, with following modification:

  • Existing Over Draft (OD) limit of Rs. 5,000 revised to Rs. 10,000.
  • onditions attached for active PMJDY accounts availing OD upto Rs. 2,000.
  • limit for availing OD facility revised from 18-60 years to 18-65 years.
  • accidental insurance cover for new RuPay card holders raised from existing
    Rs.1 lakh to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

  • The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit.
  • Aadhar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable.
  • Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason.
  • The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme.
  • The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

Pradhan Mantri Suraksha Bima Yojana(PMSBY)

  • The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit, on an annual renewal basis.
  • Aadhar would be the primary KYC for the bank account.
  • The risk coverage under the scheme is Rs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.
  • The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment.
  • The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

Atal Pension Yojana (APY)

  • • APY aims to help workers in the unorganized sector save money for their old age while they are working and guarantees returns post retirement.
  • Indian citizens in the age group 18 – 40 and having a valid bank account is eligible to join the scheme.
  • APY is a periodic contribution based pension plan and promises a fixed monthly pension of Rs 1000/ Rs 2000/ Rs 3000/ Rs 4000 or Rs 5000.
  • Monthly contribution depends upon the fixed amount of monthly pension one wants and the age when one starts contributions. Pension starts at 60 years of age.

Prime Minister’s Employment Generation Programme (PMEGP)

Prime Minister’s Employment Generation Programme (PMEGP) is a credit linked subsidy programme administered by the Ministry of Micro, Small and Medium Enterprises, Government of India. Khadi & Village Industries Commission (KVIC), is the nodal agency at national level for implementation of the scheme. At state level the scheme is implemented through KVIC, KVIB and District Industries center.


  • To generate employment opportunities in rural as well as urban areas through setting up of self employment ventures.
  • To provide continuous and sustainable employment to a large segment of traditional and prospective artisans and unemployed youth, so as to help arrest migration of rural youth to urban areas.


  • The scheme is applicable to all viable (technically as well as economically) projects in rural as well as urban areas, under Micro enterprises sector.
  • The maximum cost of the project admissible under manufacturing sector is Rs.25 lakhs and business/services sector is RS.10 lakhs.
  • Only one person from family is eligible for obtaining financial assistance under the scheme.
  • Assistance under the Scheme is available only for new projects
  • General category beneficiaries can avail of margin money subsidy of 25 % of the project cost in rural areas and 15% in urban areas. For beneficiaries belonging to special categories such as scheduled caste/scheduled tribe /women the margin money subsidy is 35% in rural areas and 25% in urban areas.

Eligible Entrepreneurs / Borrowers

  • Any individual, above 18 years of age
  • The beneficiaries should have passed at least VIII standard, for setting up of project costing above Rs.10 lacs in the Manufacturing Sector and above Rs. 5 lacs in the business /Service Sector,
  • Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other Scheme).
  • Institutions registered under Societies Registration Act,1860
  • Production Co-operative Societies
  • Charitable Trusts.

Selection of beneficiaries

  • The beneficiaries will be identified & selected at the district level by a Task Force consisting of representatives from KVIC/State KVIB/ State DICs and Banks and headed by the District Magistrate / Deputy Commissioner / Collector concerned.

Pradhan Mantri MUDRA Yojana (PMMY)

  • Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises.
  • These loans are classified as MUDRA loans under PMMY.
  • These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.
  • The borrower can approach any of the lending institutions mentioned above or can apply online through this portal.
  • Under the aegis of PMMY, MUDRA has created three products namely 'Shishu', 'Kishore' and 'Tarun' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.
  • Nature of Facility : Working Capital and Term Loan
  • Purpose : Business purpose, capacity expansion, modernization
  • Target Group : Business Enterprises in Manufacturing, Trading and Services sector including allied agricultural activities.

Quantum of loan (Min/Max)

  • Maximum loan amount : Upto Rs 10 lacs
  • Loans upto Rs.50,000 are categorised as SHISHU
  • Loans from Rs.50,001 to Rs.500,000 are categorised as KISHORE
  • Loans from Rs.500,001/- to Rs.10,00,000/- are categorised as TARUN

Stand Up India

  • Stand Up India Scheme facilitate bank loans between 10 lakh and 1 crore to at least one scheduled caste (SC) or Scheduled Tribe, borrower and at least one women per bank branch for setting up a Greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.


  • SC/ST and/or women entrepreneurs; above 18 years of age
  • Loans under the scheme is available for only Greenfield project. Greenfield signifies, in this context, the first time venture of the beneficiary in the manufacturing, services or trading sector
  • In case of non-individual enterprises, 51% of the shareholding and controlling stakes should be
  • held by either SC/ST and/or Women entrepreneur
  • Borrower should not be in default to any bank or financial institution

Startup India Scheme

Startup India Scheme is an initiative by the Government of India for generation of employment and wealth creation. The goal of Startup India is the development and innovation of products and services and increasing the employment rate in India. Benefits of Startup India Scheme are Simplification of Work, Finance support, Government tenders, and Networking opportunities.

1. Simplification of Work

  • This initiative simplifies the work for the new entrants in order to motivate them. This includes following steps taken by the government:
  • Firstly, the government has set-up Startup India hubs where all the works related to incorporation, registration, grievance handling, etc.
  • Secondly, an application and an online portal is set-up by the government to facilitate registration from anywhere and anytime.
  • Thirdly, the patent acquisition and registration is now fast for the startups.
  • Lastly, according to the Insolvency and Bankruptcy Bill, 2015 facilitates fast winding up of the startups. A new startup can wind-up itself within 90 days of the incorporation.

2. Finance Support

  • In order to motivate the startups, the government provides various financial supports. These steps taken by the government are as follows:
  • The government has set up a corpus of Rs.10,000 crores for 4 years (Rs.2500 crore each year). From such fund, the government invests in variousstartups.
  • Special funds are provided, investment in which leads to exemption from the income tax on
  • the Capital Gain.

Income tax exemption is available for the startups for the first 3 years after the incorporation.

3. Financial Benefits

  • Most of the startups are patent based. It means they produce or provide unique goods or services. In order to register their patents, they have to incur a heavy cost which is known as the Patent Cost.
  • Under this scheme, the government provides 80% rebate on the patent costs. Moreover, the process of patent registration and related is faster for them. Also, the government pays the fees of the facilitator to obtain the patent.

4. Income Tax Benefits

  • Startups enjoy a good amount of benefits under the Income Tax head. The government exempts their 3 years income tax post the incorporation year.
  • But they can avail it only after getting a certificate from the Inter-Ministerial Board. Also, they can claim exemption from tax on Capital Gains if they invest money in specified funds.

5. Registration Benefits

  • Everyone believes that incorporation and registration of business are far more difficult than running it. It is because of the long and complex steps of registration.
  • Under the Startup India scheme, an application is there to facilitate registration. A single meeting is arranged to at the Start-up India hub. Also, there is a single doubt and problem-solving window for them.

6. Government Tenders

  • Everyone seeks to acquire Government tenders because of high payments and large projects. But it is not easy to acquire the government tenders.
  • Under this scheme, the startups get priority in getting government tenders. Also, they are not required to have any prior experience.

7. Huge Networking Opportunities

Networking Opportunities means the opportunity to meet with various startup stakeholders at a particular place and time. The government provides this opportunity by conducting 2 startups fests annually (both at domestic as well as the international level).

  • Startup India scheme also provides Intellectual Property awareness workshop and awareness.
  • Registration of the Startup can be done only from following types of companies:
  • Partnership Firm
  • Limited Liability Partnership Firm
  • Private Limited Company

Prime Minister’s Awas Yojana (PMAY)

  • The Pradhan Mantri Awas Yojana (PMAY) scheme was launched by the Government of India to boost the affordability of houses against an inflated real estate sector. The scheme aims to achieve its objective of “Housing for All” by 31 March 2022, the 150th birth anniversary year of Mahatma Gandhi, by constructing 20 million houses across the nation.
  • Based on the areas that it caters to, this Yojana has two parts – Urban and Gramin.
  • The Credit Linked Subsidy Scheme providing interest subsidy upto 6.50% (depending of the income category) is available under this scheme.

The following individuals and families are eligible for this scheme:

  • Economically Weaker Section (EWS) – Families with an annual income up to Rs. 3 Lakh.
  • Low Income Group (LIG) – Families with an annual income between Rs. 3 Lakh and Rs. 6 Lakh.
  • Middle Income Group I (MIG I) – Families within an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
  • Middle Income Group II (MIG II) – Families with an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
  • Women belonging to EWS and LIG categories.
  • Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Class (OBC).
  • He/she must not own a house to fulfill the Pradhan Mantri Awas Yojana eligibility.