Thu. Jun 30th, 2022
PMRY Loan

In 1993, Prime Minister’s Rojgar Yojana or PMRY was created to focus on skill-based self-employment generation. The educated, unemployed youth, including women who lack resources for investing in a venture, are the target group for PMRY. This group stands to receive self-employment opportunities through subsidized financial assistance provided through PMRY to start their own ventures in the sectors of business and service, manufacturing, and trade.

The Ministry of Small Scale, Rural and Agro, Industries administers the scheme, while the Directorates of Industries and District Industries Centers (DIC) supervises the implementation. The Gramodaya Scheme or the Self-Employment for Educated unemployed Youth (SEEUY) was eventually merged with PMRY.

Also Read: Everything You Wanted To know About PMEGP Loan

What Is The PMRY Loan Entails

The PMRY loan is a centrally sponsored scheme that covers both urban centers and rural areas. The PMRY loan has seen several amendments and modifications in its cost, eligibility and subsidy limits. Under this term loan, the target is to employ youth with the establishment of at least 7 lakh micro-enterprises. The scheme applies to all kinds of industrial, business, and service ventures. This includes agriculture and related operations, but is exclusive of direct agricultural activities like farming, buying fertilizer or manure, etc.

The PMRY loan subsidy amount is limited to 15% of the project cost. This is limited to an upper ceiling of ₹12,500 per borrower. The margin money provided may vary from 5% to 16.25% of the total project cost to make the combined subsidy and margin contribution stand at 20% of the project cost.

Eligibility And Parameters of PMRY Loan:

  1. The age limit for availing this scheme is between 18-35 years. This age limit is extended to 45 years for people belonging to the SC/ST category, women, the physically challenged, and ex-servicemen.
  2. The minimum educational qualification required is 8th standard passed.
  3. The family income of the borrower should not exceed the limit of ₹1 lakh per annum. This includes the income of the spouse and parents of the borrower.
  4. The borrower should be a permanent resident of the area for at least 3 years.
  5. The PMRY Loan Limit Is:

    Business sector-₹2 lakh maximum

     Service sector-₹5 lakh maximum

    Industry sector-₹5 lakh maximum

    Partnerships are eligible under this scheme with the limit of ₹10 lakh maximum cover.

    The collateral requirement is nil for projects upto ₹2 lakh. This remains the same for partnership projects too. Collateral exemption limit for projects under Small Scale Industries (SSI) is ₹5 lakh.

    The rate of interest is subject to the quantum of loan and government guidelines.

    The tenure of the loan is between 3-7 years. The repayment schedule will be based on the moratorium period decided on case basis.

    Training and operational expenditures should be within ₹2,000 per borrower.

    Defaulters of nationalized banks and financial institutions and beneficiaries of other Government subsidy schemes are not eligible.

    DICbears the training expenses at the rate of ₹1,000 per borrower in the industrial sector and ₹500 per borrower in the business and service sector. This is inclusive of the stipend.

    Exemptions

    The subsidy limit for Uttaranchal,Himachal Pradesh, North-Eastern states, and Jammu & Kashmir regions is ₹15,000 per borrower. Self-help groups have the same limit per beneficiary with an upper ceiling of ₹1.25 lakh. The coverage of viable ventures is extended to small tea gardens, fishing, poultry, piggery, sericulture, and horticulture.

    It is notable that for PMRY loan eligibility, besides the minimum educational qualification requirement, those youth who have undergone trade-related vocational training through a government recognized and approved institutions will be given preference over others. Also, the scheme gives preference to weaker sections, including women and comprises reservations of 22.5% SC/ST and 27% for Other Backward Class (OBCs).

    Applying For PMRY Loan

    All banks that are connected with government schemes can be approached for availing this loan

    Here’s how to apply for the loan:

       Download the PMRY loan application form online.

    Fill all details in the form and include the necessary documents:

    Proof of Date of Birth (Secondary SchoolCertificate (SSC) or TC from the applicant’s school)

    Certificates of academic and technical qualifications

    Ration card or any other proof of residency for three years, i.e. residential certificate issued by MRO

    Experience certificate, if applicable.

    Income certificate issued by MRO (Mandal)

    Caste certificate issued by MRO if applicable

    Driving License in case of the candidates applying for motor vehicles.

    Copy of the Proposed Project Profile

    Submit the completed form along with documents to the concerned bank branch and wait for communication from their end.

    As an initiative towards poverty alleviation, employment generation and asset creation are the prime strategies of PMRY. This scheme is a step to empower the economically weak by making them self-dependent. This is an evolving scheme that focuses on specific aspects and target groups, just as Indifi has customized financial solutions. PMRY is an opportunity that provides sustainable employment opportunities with an eye on the development of skill and rural infrastructure.




By indifi

55 thoughts on “Top Facts About PMRY Loan”
    1. Sir, you can apply for a business loan through our online application form on indifi dot com
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    1. To get a collateral-free business loan you can visit our website: indifi dot com
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    1. Sir, agar app apne business ko badana chahte h toh aapko hum business loan de sakte h. Uske lie hamari website pe jaiye indifi dot com or application form bhairie, hamari taraf se apko call ayega, jab aap woh form bharoge.

    2. Sir, you can apply for a business loan through our online application form on indifi dot com
      After filling the form our customer care executive will contact you for further queries and documents.

    1. Sir, agar app apne business ko badana chahte h toh aapko hum business loan de sakte h. Uske lie hamari website pe jaiye indifi dot com or application form bhairie, hamari taraf se apko call ayega, jab aap woh form bharoge.

    1. Sir, agar app apne business ko badana chahte h toh aapko hum business loan de sakte h. Uske lie hamari website pe jaiye indifi dot com or application form bhairie, hamari taraf se apko call ayega, jab aap woh form bharoge.

    2. Sir, agar hum business loan de sakte h. Uske lie hamari website pe jaiye https://www.indifi.com/ or application form bhairie, hamari taraf se apko call ayega, jab aap woh form bharoge.

    1. Sir, Please visit our website: indifi dot com and fill the loan application form and soon our customer care will call you regarding your need and eligibility.

  1. Dear sir,
    we are trading plastics products and machinery , we want to mfg plastics products at vasai
    we want to buy used recondition machinery for we need loan upto 50lakhs

    for new business
    pls let us know the details how can i avail msme loan
    i am having only gumata licence
    awaiting for your valuable reply

    thanking you

    for forum enterprises

    1. Sir, Please visit our website: indifi dot com and fill the loan application form and soon our customer care will call you regarding your need and eligibility.

    1. Sir, Please visit our website: indifi dot com and fill the loan application form and soon our customer care will call you regarding your need and eligibility.

    1. Sir, Please visit our website: indifi dot com and fill the loan application form and soon our customer care will call you regarding your need and eligibility.

  2. Kindly advice am going to start new business shortfall of lil bit liquidity is there any possibilities
    Of business start up loan.

    1. Sir, Please visit our website: indifi dot com and fill the loan application form and soon our customer care will call you regarding your need and eligibility.

  3. I want loan for my business it’s private limited company service oriented business Computer training institute can I apply for PMRY Yojana loan . says:

    It’s urgent I want for expansion of my business

  4. सर मैंने वेल्डर ट्रेड से आईटी आई किया है और आपके माध्यम से १० लाख लोन लेना है दिलाने कि कृपा करें मेरा व्हाट्स एप न.९६९५५४८७३८ है कृपया पूर्ण जानकारी भेज दे अभी बेरोजगार हूं प्रतीक्षा में
    महेश कुमार
    ४३३तलैया नैनागढ़ नगरा वार्ड ६ झांसी
    Email mk05041969@gmail dot com

  5. Sir I have urgent cash 25000 it’s possible sir iam going to new job refer via consultancy I pay consultancy fees only it’s possible sir 25000 I given you next 6 month please help me sir

  6. Sir mera garment shop he mujhe kaam ko or bhadana h matlab saman bharne ke liye mujhe loan chahiye kya possible h aaj se pehle mene bus muthoot se loan liya h kya loan possible hoga

  7. Sir I need to Stuart new businesses i need business loan. I have to start new business is it possible to get a loan from any bank for newly started business

  8. Respected Sir…
    I was looking a good partner bank to suggest me the banking loans, PMRY scheam and other Govt scheams.. ive a shop of Agriculture Equipment like Sprinkler Pipea, Drip Irrigation Pipea and fitting and other more equipment related to Agriculture in a small scale…
    Plz help me out to expand my business, to build my dream of a Lateral manufacturing factory… PlZ PlZ…
    PlZ suggets me how can I get Govt facelities….

    Thank You..
    Dhanyawad..

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  10. The process of applying for a business loan with Indifi is really simple and transparent Moreover, small businesses can also avail quick and simple business loans from Indifi based on their business transactions

  11. Indifi is a leading online lending platform providing online business loans in India to MSME businesses. The process of applying for a business loan with Indifi is really simple and transparent. A business owner just needs to fill his basic business and KYC details.

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  13. Indifi provides Unsecured Business Loans which are not just focused on Large Scale Organisatuuioins but to MSMEs. We provide hassle-free, quick, and fast business loans to all those who are need to expand their businesses. We have also, better benefits to certain business segments such as Food, Travel, Ecom, etc. Those who are associated with these businesses will get a better loan amount at an attractive business. We also provide unsecured loans without any involvement of a third party or vendor. Laon Process at completely digital and no physical documentation is required. It is a completely transparent process and user friendly. We provide a dedicated Relationship Manager for assistance and queries of the client.

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