The Government of India has launched a new scheme called the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). This is a Central Sector Sub-scheme with a total budget of ₹6,000 crore, running from 2023-24 to 2026-27.
The scheme mainly focuses on fishers, fish farmers, vendors, and micro/small enterprises working in fisheries and aquaculture. Its goal is to formalize the fisheries sector, provide easy loans, offer insurance benefits, and create more jobs in this industry.
Main Objectives of PM-MKSSY
- Formalization of the unorganized fisheries sector – Every fish worker will get a digital work-based identity for easier access to government benefits.
- Easy access to loans – Fishers, farmers, and fisheries-related businesses will get better access to institutional credit and working capital loans at lower costs.
- Aquaculture insurance – Fish farmers buying insurance will receive one-time incentives.
- Support for micro-enterprises – Financial grants will be given to improve value chains and create more jobs.
- Supply chain development – Encouraging micro and small enterprises to ensure safe fish production, better storage, and quality standards.
Major Components of PM-MKSSY
- Formalization & Loan Support – Helping fishers and small fisheries businesses get bank loans easily.
- Aquaculture Insurance – Incentives for those who opt for insurance cover.
- Support to Microenterprises – Grants to improve efficiency in fish production, processing, and marketing.
- Fish Safety & Quality Assurance – Promoting hygienic and safe fish products in the market.
- Monitoring & Reporting – Strong system for tracking scheme progress.
Funding & Financial Support
- The scheme is 100% funded by the Central Government.
- Benefits are directly transferred to beneficiaries through DBT (Direct Benefit Transfer).
- Small grants will be provided under Component 1-A for preparing project reports and securing loans.
Who Can Benefit? (Eligible Beneficiaries)
- Fishers, fish farmers, fish workers, and fish vendors.
- Micro & Small Fisheries Enterprises like proprietorships, partnerships, companies, societies, LLPs, cooperatives, federations, SHGs, and startups.
- Fish Farmers Producer Organizations (FFPOs) & Farmer Producer Organizations (FPOs).
- Women entrepreneurs in aquaculture.
- Any other group notified by the Department of Fisheries.
National Digital Fisheries Platform (NFDP)
To make things digital and transparent, the government has launched the National Digital Fisheries Platform (NFDP) in September 2024.
Through NFDP:
- All fishers and aquaculture workers will be given a digital identity.
- Beneficiaries can apply online for loans, insurance, and incentives.
- Over 3 crore fishers and farmers will be registered on the platform by 2026-27.
- SBI and other banks are linked with NFDP, so applications can be directly tracked by branches.
Official Websites:
Loan & Financing Options under PM-MKSSY
Beneficiaries can apply for different types of loans through NFDP:
- Kisan Credit Card (KCC) – Fisheries → For working capital needs.
- Agri & Food Enterprise Loan → For working capital if no scale of finance is available.
- Mudra Loan for Fisheries/Processing → For fish seed, feed, storage, vehicles, insurance, etc.
- Agri & Food Enterprise Term Loan → For capital expenses in fisheries.
- ATL Fishing Processing Loan → For individuals to expand fish processing units.
While applying, beneficiaries must select Scheme Code 9330 – PM Matsya Kisan Samridhi Sah-Yojana.
Benefits of PM-MKSSY in Simple Words
- Zero hassle loan access for fish farmers and vendors.
- Digital identity card for all fish workers.
- Insurance support to reduce risks in aquaculture.
- Financial incentives & grants for fisheries businesses.
- Better fish quality & hygiene standards in markets.
- Job creation in rural and coastal areas.
Frequently Asked Questions (FAQs) on PM-MKSSY
1. What is PM-MKSSY?
The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a Central Sector Sub-scheme under PMMSY launched by the Government of India. It aims to formalize the fisheries sector, provide easy access to loans, promote aquaculture insurance, and support micro & small enterprises in fisheries.
2. Who is eligible for PM-MKSSY?
Eligible beneficiaries include:
- Fishers, fish farmers, fish workers, and vendors
- Micro & small enterprises (proprietorships, partnerships, LLPs, companies, cooperatives, SHGs, FFPOs, startups)
- Fisheries-related organizations like Farmer Producer Organizations (FPOs)
Special focus is given to women entrepreneurs in fisheries and aquaculture.
3. What are the benefits of PM-MKSSY?
- Zero balance banking support through institutional credit
- One-time incentives for aquaculture insurance
- Performance grants for fisheries enterprises to improve efficiency & jobs
- Financial assistance via Direct Benefit Transfer (DBT)
- Access to loans for working capital and infrastructure through KCC Fisheries, Mudra, and other loan products
4. How to apply for PM-MKSSY loan?
Beneficiaries can apply online through the National Digital Fisheries Platform (NFDP):
- Visit www.nfdp.dof.gov.in
- Register and create a digital ID
- Submit loan application online, which will be forwarded to the nearest bank branch (e.g., SBI)
- The bank will process and update loan status directly in the NFDP portal.
5. What is NFDP in PM-MKSSY?
The National Digital Fisheries Platform (NFDP) is a digital platform launched to onboard 3 crore fishers, farmers, workers, and vendors by FY 2026-27. It acts as a one-stop solution for applying for loans, availing insurance, checking performance grants, and accessing fisheries-related services.
6. What is the funding pattern of PM-MKSSY?
The scheme is 100% funded by the Central Government. All financial benefits are transferred directly to beneficiaries via DBT (Direct Benefit Transfer).
7. What type of loans are available under PM-MKSSY?
Loans under PM-MKSSY are provided for both working capital and capital expenditure. Some products include:
- Kisan Credit Card (KCC) Fisheries – Working capital needs
- Mudra Loans – For fish farming, feed, equipment, vehicles, sheds, etc.
- Agri & Food Enterprise Loans – For enterprises engaged in fisheries processing & supply chain
- Term Loans – For infrastructure & processing units
The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) is a game-changer for India’s fisheries sector. By providing easy loans, insurance, and digital identity, it ensures financial security for fishers and boosts fisheries businesses.
If you are a fisher, fish farmer, vendor, or running a small business in fisheries, this scheme can help you grow with government-backed financial support.