Pradhan Mantri Rozgar Yojana (PMRY)

• Project Cost Covered under PMRY Scheme (Loan Amount)
  

  Sector	Project Cost
  Business Sector	Rs. 2 lakh
  Service Sector	Rs. 5 lakh
  Industry Sector	Rs. 5 lakh

• PMRY is a centrally sponsored scheme with repayment tenure from 3 years to 7 years
• Training provided to borrowers for 15-20 days to ensure the setting up of their businesses
• Primary body of this scheme is Development Commissioner (Small-Scale Industries) under Ministry of Small Scale, Rural and Agro, Industries
• Commissioner/Director of Industries implements the scheme at the State level except the four metropolitan cities of the country
• Every quarter, State Level PMRY Committee monitors the progress of the scheme
• Implementing agencies of this scheme are the metropolitan cities of the country
• To expand their coverage areas of small tea gardens, fishing, poultry, piggery and horticulture
• Easy Equated Monthly Instalments (EMIs) for borrower’s business initialization

Relief Norms and Measures for North Eastern Region

• Subsidy component @15% with an upper ceiling of Rs. 15,000
• Assistance Eligibility for project costing up to Rs. 2 lakh
• Margin money may vary from 5% to 12.5% of the project cost

Step 1: Visit the official website of Prime Minister’s Rozgar Yojana.
Step 2: Download the application form and fill it with complete details.
Step 3: Submit the duly filled form to the respective bank those which come under PMRY scheme and then the concerned bank will get in touch with you.

Copies of the following documents are required to apply for Pradhan Mantri Rozgar Yojana (PMRY):

• Driving License
• EDP Training certificate
• Copy of the Proposed Project Profile
• Experience, qualification, and technical certificates
• Proof of Date of Birth (SSC certificate or TC from school where studied)
• Residence proof for 3 years, ration card or any other proof of residency
• Income certificate issued by MRO (Mandal Revenue Officer)
• Caste certificate issued by MRO, if applicable

• The upper age limit has been raised by 10 years beyond 35 years for SCs/STs and women
• Educational qualifications for eligibility under the scheme has been reduced to 8th class from 10th class
• The upper limit of project cost has also been increased from Rs. 1 lakh to Rs. 2 lakh
• The scheme will cover agriculture and allied activities and exclude direct agricultural operations, such as manure and its purchase, raising crop, etc.
• Group financing eligibility up to Rs. 5 lakh
• The upper age limit increased up to 40 years in seven North Eastern States of India

What is the age criteria to enroll for PMRY?
The minimum age of the applicant should be 18 years and maximum 35 years; in case the applicant is from North-eastern states then the maximum age is 40 years and for people falling in SC/ST category then it is 45 years.

What is the minimum qualification required to enroll under PMRY?
The applicant should have studied and passed VIII standard to be eligible.

Is there any requirement of collateral to be submitted?
There is no requirement of collateral for project up to Rs. 1 lakh.

What is the subsidy offered under PMRY?
The subsidy offered under PMRY is 15% of the project cost, maximum of Rs. 7500.

Are there any income criteria to meet before enrolling for PMRY?
The annual family income shall not exceed Rs. 40,000 to get enrolled under PMRY.

What is the repayment schedule offered under PMRY?
The repayment schedule to be followed by the applicant should be between 3 to 7 years after initial moratorium period.

For how long is the training provided to the borrowers?
The training is provided for 15-20 days to ensure that their businesses get settled and started.

What is the maximum time duration that I need to reside permanently before applying?
You need to have stayed for at least 3 years at the same location to be eligible for PMRY.

Also Read:
PMEGP Loan – Interest Rate, Eligibility, Documents
SIDBI – Schemes, Interest Rates, Eligibility & Steps to Apply for Loan
KVIC – Objective, Functions & Scheme Detail
Pradhan Mantri Mudra Yojana
CGTMSE – Loan Eligibility, Fees and Coverage
NABARD Schemes – Interest Rate, Subsidy, Loan & Funds Under Nabard
Mahila Samridhi Yojana – Interest Rate, Eligibility, Documents
MSME Loan – Interest Rate, Eligibility, Documentation
MSME Registration – Benefits, Process, Fees, Eligibility, Documents Required
Most Successful Small Business Ideas
Small Business Loans – Eligibility, Interest Rates & Top Providers
Startup Business Loans – Benefits, Eligibility, Types
Stand-up India Scheme