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Last updated: 07 Nov, 2020  

msme-THMB-2010.jpg MSME ministry cautions entrepreneurs against frauds over PMEGP

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SME Times News Bureau | 06 Nov, 2020

The Ministry of MSME on Friday alerted the general public and potential entrepreneurs against cheating in the name of Prime Minister’s Employment Generation Programme.

In a statement issued, Ministry of MSME has informed that some instances are reported to the Ministry that potential entrepreneurs / beneficiaries are being approached by private persons or agencies offering loans under PMEGP Scheme and handing over loan sanction letters and cheating the entrepreneurs by charging money from them.

Ministry has warned the unscrupulous elements against cheating general public in its name and it has been informed that the Ministry has already taken up the matter with the police authorities for proper investigation and action.

Prime Minister's Employment Generation Programme (PMEGP) is a central sector credit linked subsidy scheme being implemented by the Ministry of MSME since 2008-09 to assist first generation entrepreneurs for setting up of micro enterprises across the country.

Under the PMEGP Scheme, the entire process of application and fund flow right from receipt of application to sanction and release of loan by banks to the applicants has been made online through only one Government portal run by Khadi and Village Industries Commission.

The portal can be accessed at https://www.kviconline.gov.in/pmeepeportal/pmegphome/index.jsp. The whole process is totally free of cost.

No Private Party/Agency/ Middlemen/ Franchise, etc. is engaged or authorized for promoting and sanctioning PMEGP Projects or providing any financial assistance under PMEGP scheme.

Instances of potential entrepreneurs / beneficiaries being approached by private persons or agencies offering loans under PMEGP Scheme and handing over loan sanction letters and cheating the entrepreneurs by charging money from them is totally illegal and absolutely fake.

General public is therefore advised to remain cautious of such unscrupulous elements.

 
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