Scheme for Small Road Transport Operators (SRTOs)
State: Puducherry
Ministry: null
Department: Industries and Commerce Department, Puducherry
Category: Business & Entrepreneurship, Transport & Infrastructure
Beneficiary Type: Individual

The scheme aims to extend financial assistance for acquiring new transport vehicles, including goods and passenger vehicles. It provides term loans covering up to 70% of the vehicle cost, excluding road tax and insurance, repayable over a max. of 58 monthly instalments.

Benefits:
- Financial assistance is provided up to 70% of the cost of the vehicle.
- The calculation for the financial assistance excludes the cost of road tax and insurance.
- The assistance is intended to meet the expenditure towards the cost of the chassis and body building for new transport vehicles (Goods and Passenger vehicle).
- The maximum repayment period is 58 monthly instalments.
- The repayment period includes a moratorium period of a maximum of 3 months.
- 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.

**Financial Norms:** [https://pipdic.in/financial_norms](https://pipdic.in/financial_norms)
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##### ***Conditions***

- _The proposed vehicle must be hypothecated._
- _Collateral security in the form of immovable property must be offered as per the lending policy of the Corporation._
- _If the immovable property used for collateral security is situated in the Union Territory of Puducherry, its value must be not less than the amount of the term loan sanctioned._
- _If the immovable property is situated outside the Union Territory of Puducherry, the value of the property offered shall be not less than 150% of the loan amount if it includes land with a building._
- _If the property offered outside the Union Territory of Puducherry is only land, its value shall not be less than 200% of the loan amount._
- _For units promoted by Women, Scheduled Caste, Scheduled Tribe, or Differently abled persons, the required value of the immovable property offered as collateral security is reduced and fixed at 50% of the loan amount._
- _The valuation of the properties to be offered as security must be assessed by engaging Chartered Engineers or valuers from the approved panel of the Corporation._

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Eligibility:
- The applicant must be a resident of Puducherry.
- The applicant must be seeking financial assistance for acquiring new transport vehicles, which include Goods vehicles and Passenger vehicles.
- The applicant must not be seeking financial assistance for second-hand vehicles.

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Application Process:
[Online]
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:
Documents Required At The Time Of Filing Loan ApplicationCopy Of the Proceedings Obtained From The Transport Department.
Copy Of the Ration Card.
Copy Of the Aadhaar Card.
Copy Of the Birth Certificate.
Copy Of the Nativity / Residence Certificate.
Copy Of the Community Certificate (In Case Of Scheduled Caste / Scheduled Tribe).
Copy Of The Permanent Account Number Card.
Copy Of The Bank Pass Book.
Copy Of The Driving Licence.
Copy Of The Partnership Deed (In The Case Of Partnership Concern).
Original Quotation For Vehicle / Chassis / Body Building Works.
Copy Of the Registration Certificate Book (For Existing Vehicle).
Consent Letter to Offer Collateral Security To the Extent Required By Pondicherry Industrial Promotion Development And Investment Corporation Limited / Copy Of Documents For The Collateral Security Property.
Documents Required During Processing Time Or After Sanction Of LoanOriginal Title Deed.
Antecedent Title Deeds.
Encumbrance Certificate For 30 Years.
Valuation Certificate Obtained From Approved Panel Valuer Of Pondicherry Industrial Promotion Development And Investment Corporation Limited.
Field Measurement Book Copy.
Patta Copy.
Legal Opinion Report For Collateral Security Property.