Refinance Scheme for Technology Development and Modernization
State: Puducherry
Ministry: null
Department: Industries and Commerce Department, Puducherry
Category: Banking,Financial Services and Insurance, Business & Entrepreneurship
Beneficiary Type: Business Entity

The scheme aims to assist Sole Proprietorships, Partnerships, Co-operative Societies, Private and Public Limited Companies for meeting the expenditure on purchase of capital equipment, acquisition of technical know-how, and the upgradation of process technology and products.

Benefits:
The assistance under the scheme would be available for meeting the expenditure on the following: 

- Purchase of capital equipment, need based civil works and acquisition of additional land.
- Acquisition of technical know-how, design, drawing and fashion forecast where relevant to specific product group.
- Upgradation of process technology and products with trust on quality improvement comparable with acceptable domestic international standards.

_*The project outlay must not exceed ₹1,00,00,000/-._
_*The preliminary and pre-operative expenses shall not be covered as a part of the cost of the project._
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Eligibility:
The scheme is applicable to the following - 

- Sole Proprietorships
- Partnerships
- Co-operative Societies
- Private Limited Companies
- Public Limited Companies

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Application Process:
[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 ProcessStep 1: Registration and Profile CreationVisit 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 LoginUse 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 UpdateUpon 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 FormTo 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 TermsA 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 FormFill the multi-step application form, providing appropriate details in all mandatory fields across the required steps.
Step 4: Declaration and SubmissionThe 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 UploadThe 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 PaymentOnce 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 ReceiptUpon 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 SupportThe 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 FeesFor 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 & SupportThe 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.

Documents Required:
Copy of Acknowledgement of MSME Registration Certificate Obtained from Industries Department.
Copy of Registered Lease Deed for the Work Premises for the Period Not Less than 8 Years or Consent Letter to Produce Registered Lease Deed for the Work Premises.
Copy of Sale Deed for the Work Premises (In Case the Premises is Owned by the Applicant).
Site and Factory Building Plan with Machinery Layout and Civil Estimate (2 Copies).
Quotation from Selected Supplier for All Machinery and Equipments Proposed with Detailed Specification and Catalogue (Original to be Produced).
Two Comparative Quotations from Standard Suppliers for All Machinery and Equipments Proposed (Original to be Produced).
Comparative Statement for Machinery with Justification for Choosing the Supplier.
Selected Machinery Supplier's Client List with Detailed Postal Address and Copy of Proof for Having Registered as an Approved Supplier with Other Financial Institutions / Banks.
Proof for Sale Price of End Product from the Existing Manufacturer / Dealer.
Quotation / Bill Copies for Each Item of Raw Materials to be Used with Arrangements for Regular Supply.
Manufacturing Process Details with Flow Chart.
Statistics for Demand and Supply Position of Product with Proof, Existing Competitions, Major Consumers Details and Tie-Up Letters for Marketing the Product.
Copy of Partnership Deed and Acknowledgement of Registrar of Firms (In the Case of Partnership Firm) or Memorandum and Articles of Association (In the Case of Private Limited Company).
Bio-Data of All the Promoters (Duly Filled In All Respect as Per the Format Enclosed).
Copies of PAN Card, Voters Identity, Ration Card, Aadhar Card and Bank Pass Book.
Detailed Project Report on the Project.
Consent Letter from Bank for Sanction of Working Capital Loan.
Consent Letter to Offer Collateral Security to the Extent Required by PIPDIC.
Balance Sheet and Profit and Loss Account for Last 3 Years and Bankers Details for Interested Concerns/Existing Unit.
Track Record, Name and Address of Concerns and Type of Consultancy Service Rendered by the Consultant (If Any).
Details of Effluent and Arrangement Proposed for Treatment and Disposal of Effluent (If Any During Process).
Applicable Licence Copies, PPA Approval, Inspector of Factories Approval, Municipal / Panchayat Permission, Pollution Clearance etc. (To be Submitted During Processing or After Sanction).
Original Title Deed, Antecedent Title Deeds, Encumbrance Certificate for 30 Years, Valuation Certificate, FMB Copy, Patta Copy and Legal Opinion Report for Factory Site and Collateral Security Property (To be Submitted During Processing or After Sanction).