Scheme Of Assistance To Good Borrowers: ‘A’ Category

The “Scheme Of Assistance To Good Borrowers: ‘A’ Category” was launched by the Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), Department of Industries & Commerce, Puducherry. The scheme aims to assist existing units that are classified as 'A' Category Good Borrowers, who are existing assisted units of Medium Scale Industry and Small Scale Industry, to acquire fixed assets and undertake expansion, modernization, or replacement of machinery. The scheme provides loan limits ranging from a minimum of ₹5,00,000/- to a maximum of ₹150,00,000/-. The applications for this scheme are accepted online.

• Financial assistance is available for a minimum amount of ₹5,00,000/- and a maximum amount of ₹150,00,000.
• An interest concession of 1% less than the normal rate is provided for 'A' Category borrowers.
• The loan funds are intended to be used to acquire fixed assets for setting up of new units.
• The loan funds are intended for expansion, modernization, purchase of balancing equipment, and replacement of machinery or equipment of existing units.
• The repayment period is 3 to 5 years, excluding the moratorium period.

Conditions

• Fixed assets in existing units assisted by other institutions or banks must be free from encumbrance.
• Collateral security in the form of immovable property must be offered as per the lending policy of the Corporation.
• The value of immovable property situated in the Union Territory of Puducherry to be offered shall be not less than the amount of term loan sanctioned.
• If the immovable property is situated outside the Union Territory of Puducherry, the value must be not less than 150% of the loan amount in the case of land with building.
• If the immovable property situated outside the Union Territory of Puducherry is only land, the value of the same shall be not less than 200% of the loan amount.

• The applicant must be an existing assisted unit classified as ‘A’ Category.
• The applicant must be an existing assisted unit of Medium Scale Industry or Small Scale Industry classified as ‘A’ Category.
• The existing assisted unit must be in operation for more than 3 years.
• The existing assisted unit must be regular in repayment.
• The existing assisted unit must be regular in repayment without availing re-schedulement.
• The applicant can be an existing assisted unit by other institutions or Banks which satisfies the criteria under Good Borrowers, and its fixed assets must be free from encumbrance.
• The applicant can be an existing transport loanee who has settled the loan promptly.

Online

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

Step 1:**** Registration and Profile Creation

Visit the PIPDIC website. Click "Login". Click the “New customer” link under the “Login” menu, enter a username, email-id, password, and captcha, and then click the "Register" button.

Step 2:**** Email Verification and Login

• Use the registered email-id to log in. An OTP is sent to the registered email address.
• The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard.

Step 3:**** Profile Update

• Upon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard).
• The applicant must provide all required details. Click "Submit".

Application Process (Loan Application)

Step 1:**** Accessing the Loan Application Form

• To initiate the loan application process, the applicant must navigate from the customer dashboard by clicking on the "Applications" tab.

Step 2:**** Reviewing Checklist and Accepting Terms

• A pop-up window displaying a checklist of General Terms and Conditions, interest rate structure, investigation fees, and collateral security norms will appear for review.
• Carefully read this checklist, confirm that all necessary documents have been gathered as requested, and click the “I Agree” button to proceed to the application form.

Step 3:**** Filling the Loan Application Form

Fill the multi-step application form, providing appropriate details in all mandatory fields across the required steps.

Step 4:**** Declaration and Submission

The applicant must carefully read and agree to the comprehensive declaration provided within the application form (covering confirmation of true information, absence of unauthorized borrowing arrangements, and consent to verification) before finally ticking the "I agree to terms" checkbox and clicking the final "Submit" button for the main application form.

Step 5:**** Promoter Bio-Data and Document Upload

The system will redirect the applicant to enter the Biodata of the Promoter, Partner, or Director, which is typically a multi-step process. The necessary KYC and supporting documents must be uploaded by clicking the "Choose File" button next to each field.

Step 6:**** Application Fees Payment

• Once the entire application and bio-data submission is complete, pay the applicable application fee.

• If selecting online payment, the system automatically redirects the applicant to the payment summary page, where they verify their details and make the payment.

Step 7:**** Receiving and Saving Payment Receipt

• Upon successful payment, the user is redirected back to PIPDIC website, where a receipt for the application fee paid is generated.
• The applicant can print this receipt or save it to their computer as a PDF for future reference.

Application Status Tracking and Support

The customer can monitor the status of their submitted application (which will initially show a status like 'UNDER REVIEW') by clicking the "View My application" link on the dashboard and selecting the relevant loan application in the drop-down menu.

Application Fees

• For loans up to ₹25,00,000/-, the application fee is ₹100/-.
• For loans above ₹25,00,000/-, the application fee is ₹200/-.

Grievance Redressal / Help & Support

• The applicant can contact the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited at No.60, Romain Rolland Street, Puducherry 605001.
• The office phone number is 0413-2334361.
• The email address for contact is info@pipdic.com.
• The General Manager (Administration) can be contacted via mobile at 9894653835.