Sarkari Yojana
Merit Loan Scheme for Good Borrowers
About Merit Loan Scheme for Good Borrowers
The Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), Department of Industries & Commerce, Puducherry, launched the “Merit Loan Scheme for Good Borrowers”. It helps PIPDIC-assisted units whose loan accounts have stayed classified as Standard Assets for 3 years in a row. Help is given for putting up additional buildings, buying additional machinery & equipment needed for expansion/modernisation/diversification, and meeting working capital requirements. Applications are taken online only.
Scheme Overview
State Government
Business Entity
Scheme Details
Eligibility Requirements
To qualify for Merit Loan Scheme for Good Borrowers, applicants must satisfy the following conditions:
The scheme covers the following -
Units already assisted by PIPDIC whose loan accounts…
Units already assisted by PIPDIC whose loan accounts have been classified as Standard Assets without a break for 3 years.
Good Borrowers who have already closed their loan…
Good Borrowers who have already closed their loan account with PIPDIC.
Benefits Provided
Merit Loan Scheme for Good Borrowers provides the following benefits to eligible applicants:
Loan Limit:
The loan cannot exceed the amount the unit has paid. Interest Concession: Interest is charged at 1% below the normal rate.
Documents Required
Applicants should keep the following documents ready before starting the application:
A requisition letter (a formal application form is…
A requisition letter (a formal application form is not needed).
Audited financial statements for the past 3 years
Audited financial statements for the past 3 years.
Income Tax (IT) Returns
Income Tax (IT) Returns.
Collateral security documents (immovable property must be offered…
Collateral security documents (immovable property must be offered as collateral security).
Original title deeds in the party's name
Original title deeds in the party's name.
Antecedent title deeds (deeds executed between vendors and…
Antecedent title deeds (deeds executed between vendors and third parties) for 30 Years if possible, or 20 Years (certified copy or original).
Original Encumbrance Certificate of the property covering 30…
Original Encumbrance Certificate of the property covering 30 Years before the date of the Sanction Order.
Original valuation certificate of the property, assessed by…
Original valuation certificate of the property, assessed by a Chartered Engineer on the Corporation's approved panel.
Patta of the property
Patta of the property.
Original Field Measurement Book Copy (FMB Copy) of…
Original Field Measurement Book Copy (FMB Copy) of the property.
Original receipt of the latest tax paid
Original receipt of the latest tax paid.
Original Chitta Nagal of the property
Original Chitta Nagal of the property.
Settlement Register copy of the property
Settlement Register copy of the property.
Original Adangal Certificate (where the properties are agricultural…
Original Adangal Certificate (where the properties are agricultural lands).
Original certificate from the Village Administrative Officer proving…
Original certificate from the Village Administrative Officer proving the owner's possession.
For properties in the names of deceased persons,…
For properties in the names of deceased persons, a Legal Heir Declaratory Decree from the competent court in Puducherry (for Puducherry property) or a Legal Heir Certificate from the Tahsildar, Tamil Nadu (for Tamil Nadu property).
How to Apply
Online Application
Applicants can apply for Merit Loan Scheme for Good Borrowers through the online application process outlined below.
User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf How to Apply: https://pipdic.in/how_to_apply Applicant Login: https://pipdic.in/customer_login Application Link: https://pipdic.in/forms Grievance Form: https://pipdic.in/grievance_form Registration Process
Registration and Profile Creation Go to the PIPDIC…
Registration and Profile Creation Go to the PIPDIC website. and press "Login". Under the "Login" menu, select the "New customer" link, type a username, email-id, password and captcha, and press "Register".
Email Verification and Login - Log in with…
Email Verification and Login
Log in with the email-id you registered; an OTP will be emailed to that address.
Type the OTP and press "Login" to open the customer dashboard.
Profile Update - After logging in, open "Edit…
Profile Update
After logging in, open "Edit Profile" in the top right corner of the dashboard to update your profile.
Fill in every required detail and press "Submit".
Application Process (Loan Application)
Accessing the Loan Application Form - From the…
Accessing the Loan Application Form
From the customer dashboard, open the "Applications" tab to begin the loan application.
Reviewing Checklist and Accepting Terms - A pop-up…
Reviewing Checklist and Accepting Terms
A pop-up appears with a checklist covering General Terms and Conditions, the interest rate structure, investigation fees and collateral security norms.
Read the checklist carefully, make sure every document asked for is ready, and press "I Agree" to move to the application form.
Filling the Loan Application Form Work through the…
Filling the Loan Application Form Work through the multi-step form, entering suitable details in every mandatory field at each step.
Declaration and Submission Read and accept the detailed…
Declaration and Submission Read and accept the detailed declaration within the form, which confirms that the information is true, that there are no unauthorised borrowing arrangements and that you consent to verification; then tick the "I agree to terms" checkbox and press the final "Submit" button of the main form.
Promoter Bio-Data and Document Upload You are then…
Promoter Bio-Data and Document Upload You are then taken to a page for entering the Biodata of the Promoter, Partner, or Director, usually over several steps. Upload the KYC and supporting documents using the "Choose File" button beside each field.
Application Fees Payment - When the application and…
Application Fees Payment
When the application and bio-data have been fully submitted, pay the application fee that applies.
With online payment, you are taken automatically to the payment summary page to check your details and pay.
Receiving and Saving Payment Receipt - After the…
Receiving and Saving Payment Receipt
After the payment succeeds, you return to the PIPDIC website, where a receipt for the application fee is generated.
Print the receipt or save it as a PDF on your computer for later reference.
Application Status Tracking and Support
To follow a submitted application (its status first shows as something like 'UNDER REVIEW'), click "View My application" on the dashboard and pick the loan application from the drop-down menu.
Application Fees
Loans up to ₹25,00,000/- carry an application fee of ₹100/-.
Loans above ₹25,00,000/- carry an application fee of ₹200/-.
Grievance Redressal / Help & Support
Applicants may write to the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited, No.60, Romain Rolland Street, Puducherry 605001.
The office can be called on 0413-2334361.
Emails can be sent to info@pipdic.com.
The General Manager (Administration) is reachable on mobile at 9894653835.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.