PMEGP Consumer Complaints

PMEGP Consumer Complaints

If any financing has done wrong to you with the name of PMEGP Loan you can look for PMEGP Consumer Complaints by checking our our suggestions in this article. PMEGP is the Prime Minister Employment Generation Programme. It is launched by the government of India to provide credit subsidies to young entrepreneurs. It is so that they can live a sustainable life and generate employment for themselves and others. The main aim of this money-lending scheme is to promote employment opportunities among the youth.

The Indian Government is worried about employing in the rural and urban areas. Thus it has started this scheme to generate more employment in the country for better living for individuals. If an individual begins a new venture not only does he generate employment for himself but also a few others.

Thus people of both urban and rural areas get this benefit. The government now offers subsidies under the PMEGP loan scheme up to 35%. You can also get a loan that is Rs 10 Lakh for a service or business. Also avail Rs 25 Lakh for a manufacturing house.

You can choose one among the two schemes under this subsidy plan. They are the Prime Minister Rojgar Yojana and The Rural Employment Generation Programme. They both lay efforts for providing job opportunities to the job seekers in India. It is by providing financial assistance for establishing ventures for them.

Now while procuring this credit linked subsidy scheme, the beneficiary has to deposit only 5 to 10% of the total project cost. The rest of the amount is assured by the bank. The beneficiary has to undergo several formalities to avail of the sum amount from the bank.

PMEGP Consumer Complaints

Now since the online banking facilities are available for your ease and thus you can avail your loan at the same rate of interest with fewer formalities and time-saving features. The more the online PMEGP loan facilities, the more are the chances of PMEGP Consumer Complaints. The loans are readily available. It is all due to the exposure of the internet that things come to your doorsteps and you need not waste time and stress out by going to banks and meeting one and then the other bankers for formalities under the PMEGP loan.

PMEGP Online Apply

  • You can apply online from the official website of PMEGP. There are other websites also which assist you to apply for a PMEGP loan. Check out the process to apply for a PMEGP loan.
  • Go to the official website of PMEGP and fill in the form that comes your way. You need to include all important and correct details in the form.
  • You need to follow the complete guideline on the PMEGP loan application and add the required details according to the form and your information.
  • Once you add the relevant details, click on save to save your data and also to save the details you have added.
  • Now you must save your data you need to submit the required documents online and go for the final submission of the loan application form.
  • After your application is complete, and finally submitted, the applicant ID number and password will be received on your registered mobile number or e-mail.

You can check out various articles on complete details about PMEGP.

Consumer Complaints Against PMEGP Online Apply

It is stated by the PMEGP official that the scheme has been implemented for the transparent and timely conduct of this scheme. It is also stated that once the timely submission of a loan application is made, the applicant may have some grievance or complaint against the concerned department, thus immediate implementation of grievance redressal is mandatory for the smooth functioning of the scheme.

For receiving and addressing the grievances of PMEGP applicants, a timely grievance board is set up online. You can find it on the E-Portal of PMEGP. The grievances mostly arise from the technical issues of the portal and may even be related to some financing banks or against implementing agencies.

The grievance that is received by the agency has to be resolved in three days. Any dissatisfied applicant can raise his grievance and get it resolved. The credentials for grievance remain the same ID and password that you use on the online portal of PMEGP.

If the bank or financial institution doesn’t resolve the grievance within the specified period, it reaches out to the competent authority of that particular department of the concerned bank or agency for further action.

It has also been specified that all lending agencies must be there online to check out the issues raised by the applicants daily and resolve them accordingly.

PMEGP Awareness To Consumers

 As you are an applicant know that PMEGP came into action on 1st July 2016. It is in action online only and thus every applicant has to apply for it online only. The E-Portal is in existence and is in working under the KVIC.

PMEGP cautions the applicants by stating that there is no private party, bank, financing body, agency or any middlemen that KVIC has involved to grant this credit linked subsidy scheme to applicants.

No other body is hired to sanction or grant the funds. No agency has been hired to promote the P-MEGP loan to the applicants. Thus if any applicant gets in touch with any unauthorized body that doesn’t fall under PMEGP official KVIC, KVIB and DIC, are responsible for the loss. You need to be alert because it is all your risk and responsibility. KVIC or PMEGP has no responsibility if you are misled and you only have to bear the consequences.

PMEGP Fraud Outcomes

Although PMEGP has issued advertisements and cautious notice against middlemen or other lending agencies,  in this context still the number of frauds is increasing daily. Several people are being trapped and misled by the fraudsters. The applicants are being cheated by the name of PMEGP.

People exchange their numbers, e-mails and other details online and get cheated by the fraudulent criminals. People become victims and then approach KVIC, KVIB and DIC for solutions.

PMEGP Suggestions for Complaints

PMEGP advises individuals to beware of such traps. It states that the implementing agencies must request the victim or the sufferer to file an FIR before the Cyber Crime Branch of the police station of that area, against that agency so that appropriate action is taken against that agency at the right time to prevent further fraud and to provide justice to the sufferers.

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