PMMSY: Construction of Fish Retail Markets including Ornamental Fish/Aquarium Markets - Haryana 2026

The PM-MKSSY Component 1B offers a one-time incentive to eligible individuals and enterprises who have secured institutional Read More... credit for fisheries and aquaculture activities. This aims to boost formal credit uptake and support loan repayment for these businesses. Read less

Details

The fisheries sector in India is getting a boost with the Pradhan Mantri Matsya Kisan Samridhi Sah-yojana (PM-MKSSY). Specifically, Component 1B of this scheme is designed to make it easier for people involved in fisheries and aquaculture to get formal loans. It provides a special one-time incentive to encourage them to adopt aquaculture insurance.

What is PM-MKSSY Component 1B?

This is a central government scheme, part of the larger Pradhan Mantri Matsya Sampada Yojana (PMMSY). Managed by the Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying, its main goal is to bring more fisheries-based businesses into the formal financial system. Component 1B focuses on giving a financial push to those who use institutional credit for their fishing and aquaculture work.

Who Benefits from This Scheme?

This scheme is for fisheries microenterprises and individuals who are actively involved in fisheries or aquaculture activities. If you've taken a loan from a bank or other recognised financial institution for your business, you might be eligible for this incentive.

Why This Scheme is Important

The PM-MKSSY Component 1B plays a crucial role in formalising the fisheries sector. By providing a one-time incentive, it encourages businesses to embrace formal credit and insurance. This helps improve their financial stability and repayment capacity, ultimately contributing to the growth and sustainability of the sector.

Objective

The PM-MKSSY Component 1B offers a one-time incentive to eligible individuals and enterprises who have secured institutional credit for fisheries and aquaculture activities. This aims to boost formal credit uptake and support loan repayment for these businesses.

Benefits

The scheme provides a subsidy for the construction of fish retail markets, including ornamental fish or aquarium markets. The project cost is ₹1,00,00,000/- per unit.The subsidy provided is:

40% of the project cost is for beneficiaries belonging to the General Category.

60% of the project cost is for beneficiaries belonging to the Scheduled Caste (SC) or Women categories.

Sources and references

Guidelines

Eligibility Criteria

You must be a fisheries microenterprise or an individual actively involved in fisheries or aquaculture.
Your business or personal activities must be related to fisheries or aquaculture.
You must be registered on the National Fisheries Digital Platform (NFDP).
You must have already availed institutional credit from a recognised financial institution.
You need a bank account that is linked with your Aadhaar number to receive funds via DBT.
You must provide proof that your loan was sanctioned and disbursed.
You must agree to the verification and validation checks conducted by the Department of Fisheries.

How To Apply

First, ensure you are registered on the National Fisheries Digital Platform (NFDP). If not, you will need to register by providing your mobile number and verifying it with an OTP.
Log in to your NFDP account.
Navigate to the application section for the PM-MKSSY Component 1B incentive.
Fill in all the required details accurately.
Upload all the necessary documents as specified.
Submit your application through the online portal.
Your application will be reviewed and validated by Credit Intermediaries and the Department of Fisheries.
The Project Management Unit (PMU) will provide the final approval.

Official Application Link: Please visit the National Fisheries Digital Platform (NFDP) website for the application.

Documents Required

Aadhaar Card: Used for identity verification and to ensure successful DBT transfer.
Bank Passbook or Statement: Must be for an Aadhaar-seeded bank account to receive the incentive.
Loan Sanction Letter: Proof that your loan was approved by a recognized financial institution.
Loan Disbursement Proof: A statement or receipt showing that the loan amount has been credited to your account.
Depository Account Statement: Required if applicable to your financial arrangements.
NFDP Registration Acknowledgement: Proof of your registration on the National Fisheries Digital Platform.
Self-Declaration Form: A form as prescribed by the scheme, confirming your details.
Other Documents: Any additional documents that might be requested during the validation process.

FAQ’s

What is the main goal of the PM-MKSSY Component 1B?

The primary aim is to encourage fisheries and aquaculture enterprises to take up formal credit and insurance. It offers a one-time incentive to help with loan repayment capacity.

Can I apply if I took a loan for something other than fisheries or aquaculture?

No, the incentive is exclusively for institutional credit availed for fisheries and aquaculture-related activities.

How will I receive the incentive money?

The incentive is directly transferred to your verified bank account through the Direct Benefit Transfer (DBT) system.

Is it possible to get this incentive more than once?

No, this is a one-time, non-recurring incentive. You can only receive it once for a specific eligible activity and applicant.

What information do I need for registration on the NFDP?

During NFDP registration, you'll need your mobile number for OTP verification, your name as per Aadhaar, Aadhaar number, bank account details, contact information, and your address.

Do I need to provide proof of my loan disbursement?

Yes, you must submit evidence of loan disbursement, such as a bank transaction statement showing the credit from the financial institution.

Who approves the applications for this incentive?

The applications are verified by Credit Intermediaries and the Department of Fisheries. The final approval comes from the Project Management Unit (PMU).

What is the role of the National Fisheries Digital Platform (NFDP)?

The NFDP is the central online platform where you need to be registered to apply for the incentive. It also serves as the portal for submitting your application and tracking its status.

Is my Aadhaar number crucial for this scheme?

Yes, your Aadhaar card is required for identity verification, and your Aadhaar-seeded bank account is essential for receiving the incentive through DBT.

Will my application status be visible online?

Yes, after logging into the NFDP portal, you can check the 'My Applications' section to see updates like 'Submitted,' 'Under Review,' 'Approved,' or 'Disbursed.'

What happens if I haven't received my loan sanction letter?

The loan sanction letter is a mandatory document. You will need to obtain this from the financial institution that provided you with the loan to be eligible.

Does this incentive depend on my business performance after taking the loan?

No, the incentive is solely linked to the initial sanction and disbursement of the loan. There are no performance benchmarks required after the loan is provided.