ERS

The scheme aims to financially assist the well performing SSI units for the purchase of identifiable items of equipment / machinery for diversification / modernization / expansion / replacement and also balancing equipment. The applications for this scheme are accepted online through PIPDIC portal.

The scheme “Equipment Refinance Scheme” was launched by the Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), Department of Industries & Commerce, Puducherry. The scheme aims to financially assist the well performing SSI units for the purchase of identifiable items of equipment / machinery for diversification / modernization / expansion / replacement and also balancing equipment. The applications for this scheme are accepted online through the PIPDIC portal.

• The applicant must own a well performing Small Scale Industrial unit.
• The unit must have been in operation for the last four years.
• The unit must have earned profit during the preceding two financial years.
• The unit must have declared dividend during the preceding two financial years.
• The applicant must not have defaulted to any Institution or bank.
• The scheme objective must be the purchase of identifiable items of equipment or machinery for diversification/modernization/expansion/replacement or for balancing equipment.

• A need-based loan limit of up to ₹90,00,000/- is available.
• Interest Rates:

◦ For loans up to ₹25,00,000/-, the interest rate is 10% per annum.

◦ For loans above ₹25,00,000/- and up to ₹50,00,000/-, the interest rate is 11% per annum.

◦ For loans above ₹50,00,000/-, the interest rate is 12% per annum.

• A concessional rate of interest of 0.5% less than the normal rate is charged for units promoted by Women, Scheduled Caste, Scheduled Tribe, or Differently abled persons.