Particulars Scheme Guidelines
Aims & Objectives of Scheme
  • Harnessing of fisheries potential in a sustainable, responsible, inclusive and equitable manner.
  • Enhancing of fish production and productivity through expansion, intensification, diversification and productive utilization of land and water.
  • Modernizing and strengthening of value chain - post-harvest management and quality improvement.
  • Doubling fishers and fish farmers’ incomes and generation of employment.
  • Enhancing contribution to Agriculture GVA and exports.
  • Social, physical and economic security for fishers and fish farmers.
Implementation period FY 2020-21 till FY 2024-25
Funding Pattern
  • Under Centrally Sponsored Scheme, beneficiary orientated i.e. individual/group activities sub-components/activities to be implemented by the States/UTs, the Government financial assistance of both Centre and State/UTs governments together will be limited to 40% of the project/unit cost for General category and 60% of the project/unit cost for SC/ST/Women.
  • The Government financial assistance will in turn be shared between Centre and State/UTs in the following ratio:
    • The North Eastern & the Himalayan States: 90% Central share and 10% State share.
    • Other States: 60% Central share and 40% State share.
    • Union Territories (with legislature and without legislature): 100% Central share (No UT Share).
  • The remaining 60% of the project cost/unit cost for general category and 40% for SC/ST/Women can be financed by the bank.
Beneficiaries of the Scheme
  • Fishers
  • Fish farmers
  • Fish workers and Fish vendors
  • Fisheries Development corporations
  • SHGs/Joint Liability Groups (JLGs) in fisheries sector
  • Fisheries cooperatives
  • Fisheries Federations
  • Entrepreneurs and private firms
  • Fish Farmers Producer Organizations/Companies (FFPOs/Cs)
  • SCs/STs/Women/Differently abled persons
  • State Governments/UTs and their entities including
  • State Fisheries Development Boards (SFDB)
  • Central Government and its entities
Implementing Agencies
  • Central Government and its entities including National Fisheries Development Board
  • State/UT Governments and their entities
  • State Fisheries Development Boards
  • Any other End Implementing Agencies as decided by Department of Fisheries.
Eligible Activities Eligible activities and unit cost for financing are available in the detailed scheme guideline, which is accessible by using the following link; Book PMMSY Framework
Scope for Bank Finance
  • In case of beneficiary orientated i.e. individual/group activities, the Government financial assistance of both Centre and State/UTs governments together will be limited to 40% of the project/unit cost for General category and 60% of the project/unit cost for SC/ST/Women.
  • The remaining 60% of the project cost/unit cost for general category and 40% for SC/ST/Women can be financed by the bank.
  • Our bank is already having separate schemes for financing Fisheries and Related Activities, such as Marine Fisheries and Inland Fisheries, Matsya Suraksha, Matsya Parirakshan, Matsya Samruddhi, Agriculture Term Loans like construction of cold storage, silos etc, and other development loans.
  • Branches to finance the loans under appropriate products based on the line of activity, requirement and eligibility of the borrower, duly adhering to the extant guidelines.
Quantum of Finance As per the extant scheme guidelines of the bank.
Repayment As per the extant guidelines of the bank, based on the line of activity.
Margin 15% to 25% of the project cost depending upon purpose and quantum of loan. For Deep Sea Fishing Vessels: 25%-33%
Rate of Interest Competitive rate of interest is available on loans under the scheme
Security
Loan Quantum Security to be stipulated
For loan up to Rs.2,00,000/-
  • Hypothecation of assets created out of our finance.
  • Compulsory coverage for Credit Guarantee under CGFMU, wherever the account is eligible to be covered under CGFMU.
For Loans above Rs. 2,00,000/- and up to Rs.10,00,000/-
  • Hypothecation of assets created out of our finance.
  • Mortgage of land where primary activities are under taken and which forms a part of developmental activity and connected with the activity.
  • If the developments are undertaken on the leased land and where legislation permits mortgage of lease hold rights, mortgage of leased hold right may be insisted.
  • Compulsory coverage for credit Guarantee under CGFMU, wherever the account is eligible to be covered under CGFMU.
For loans above Rs.10,00,000/-
  • Hypothecation of assets created out of our finance.
  • Mortgage of landed properties.