Signing of MOU between Khadi and Village Industries Commission (KVIC) and NATIONAL CENTRE FOR EXCELLENCE OF RSETIs on 20th February 2015

Ministry of MSME through KVIC is implementing the Prime Minister’s Employment Generation Programme (PMEGP) for generating employment opportunities through setting up of micro enterprises in rural and urban areas of the Country by extending credit-linked subsidy to the eligible beneficiaries. The scheme has been receiving encouraging response from all the stake holders namely unemployed youth, Banks and implementing agencies i.e. KVIC, KVIB and DIC.

One of the weak links in implementation of PMEGP is the lack of business skills & skills related to the projects of the beneficiaries, which has resulted in higher rate of rejection of Bank loan applications affecting the viability of PMEGP project.

To overcome this weakness, it was decided to enter into an MoU between KVIC and NATIONAL CENTRE FOR EXCELLENCE OF RSETIs for convergence in arranging for Entrepreneurship Development Programme to PMEGP beneficiaries and also to link the trainees who have undergone training in skill development at RSETIs with PMEGP scheme and also.

In addition, the Monitoring Cell will arrange for active facilitation in the matter of training, preparation of project reports, credit linkage with Banks and extend handholding support to the trained candidates for a period of two years.

Accordingly, an MoU was signed by Shri B. H. Anil Kumar, CEO & Commissioner for Khadi and Village Industries (KVIC) and Joint Secretary, MSME and Shri K. N. Janardhana, National Director for RSETIs, NATIONAL CENTRE FOR EXCELLENCE OF RSETIs on 20th February 2015 at UdyogBhawan, New Delhi in the august presence of ShriKalraj Mishra, Hon’ble Union Minister of MSME, Govt. of India, ShriMadhavLal, Secretary, Ministry of MSME, Dr D Veerendra Heggade, Hon. Co-Chairman, National Advisory Committee on RSETIs, officials of Ministry of MSME, CMDs and Top Executives of Banks and KVIC. This arrangement is expected to benefit a large number of unemployed youth to start their own enterprise.