Merit Loan Scheme for Good Borrowers

About This Scheme

The "Merit Loan Scheme for Good Borrowers" was launched by the Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), Department of Industries & Commerce, Puducherry. The scheme aims to assist the units of PIPDIC whose loan accounts are classified as Standard Assets continuously for 3 years. The assistance is provided for construction of additional building, purchase of additional machineries & equipments essential for expansion/modernisation/diversification and meet the working capital needs. The applications for this scheme are accepted online only.

Eligibility

The scheme is applicable to the following - - Already assisted units of PIPDIC whose loan accounts are classified as Standard Assets continuously for 3 years. - Good Borrowers who have already settled the loan account with PIPDIC.

Benefits

Loan Limit: Maximum amount of loan shall be the equal amount paid by the unit. Interest Concession: 1% less than the normal rate of interest.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.