Pradhan Mantri Rozgar Yojana Loan Online

Source:- https://www . indiainformations . com/info/sarkari-yojana/pradhan-mantri-rojgar-protsahan-yojana/

For any country in the world, the biggest challenge is to create employment in the proportion of the population. So our government is constantly trying to solve this problem. In this order, the Pradhan Mantri Rozgar Protsahan Yojana was started on October 2, 1993, for the diagnosis of unemployment. Given the success of this, the present central government has presented a revised form of this plan, which is now known as the Pradhan Mantri Rozgar Yojana. Pradhan Mantri Rozgar Yojana loan online form is also available. This scheme basically aims to develop the backward citizens of the country.

Parameters of the Pradhan Mantri Rozgar Yojana

Source:- http://governmentyojana . com/pradhan-mantri-rozgar-yojana-pmrpy/

Parameters of the Pradhan Mantri Rozgar Yojana:

Below are the Parameters of the Pradhan Mantri Rozgar Yojana (PMRY):

Ages

All the educated unemployed youth of the general category 18-35 years

Although 40 years for the North Eastern region

10 years age relaxation for Scheduled Castes / Scheduled Tribes, ex-servicemen, physically handicapped and women (however for up to 45 years of age)

Educational Qualification

The Applicant has to have the 8th pass qualification. Those youth who have been trained for at least six months in any business in government recognized / approved institutions will be given the first Preference.

Family Income

Income of beneficiary with wife / husband and parents should not be more than INR 40,000 / – per year

Residence

The permanent inhabitant of the particular area for at least 3 years. However, there is a relaxation for married males in Meghalaya & for married women in the rest of the country. In this case, the residency conditions apply to the in-laws or spouse.

Defaulter

There is no defaulter in any nationalized bank / financial institution. Further, under the government-sponsored schemes other than the subsidy, the aided person will not be eligible under the scheme.

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Activities Involved

All economically practicable activities comprising agriculture & associated activities however not including direct agricultural activities such as purchasing fertilizer, raising the crop, and so many more.

Project Cost

The highest limit on project cost is INR 1 lakh for the business sector and INR 2 lakh for the service and industry sector.

The loan shall be of mixed form i.e. both the term loan and operating capital. If two or more eligible persons join together, then up to INR 10 lakhs projects can be included. However, the cost will depend on individual acceptability.

Subsidy and Margin Amount

The subsidy will be limited to 15% of the project cost, whereas the ceiling of INR 7500 / – Per entrepreneur (INR 15,000 / – for North Eastern areas). The margin amount will be 5% to 16.25% of the project cost so that the sum of the gratuity and margin amount is equal to 20% of the project cost.

Collateral Security

1 lakh for all areas and there will be no collateral security in the case of partnership firms; exemption from collateral security is INR 1 lakh per person participating in the project will be limited. However, under the small scale industry, INR 2 lakh for different individuals will be provided. There will be no collateral security for the projects, whereas in the case of a partnership, each lending accounts, INR 5 lakhs.

Interest Rate and Repayment Schedule

As per the guidelines applicable from time to time, interest rates will be levied on the basis of the amount of loan. The repayment schedule will be between 3 to 7 years after the initial moratorium period of 6 to 18 months depending on the activity.

Training and Other Assistance

Training is an integral part of the plan and its expenditure will be raised by the DIC. The training expenditures & operational expenses will be covered under the maximum amount of INR 2,000/- per event.

The present system of reviewing the scale of expenses in session with the Economics for numerous activities as well as flexibility would be obtainable to the applying agencies of the Central and State levels subject to the circumstance that the overall training & operating expenditures remain under the maximum amount of INR 2,000/- per sanctioned case.

Implementing agency

The District Industry Center (DIC) and Directorate of Industry along with the banks will be responsible for implementing the scheme.

Linkages of Objectives with Retrieval

Basic minimum objectives based on the inhabitants & the figure of educated jobless. Additional objectives would be associated with the retrieval of loans approved, past presentation of approvals or special conditions prevailing in the UT / State.

Sub-terms of service

According to the plan, 27% of the SC / ST population will be covered by 22.5% and the Other Backward Classes (OBC). But, weaker sections, comprising women, should also be given preference.

Eligibility Criteria for Pradhan Mantri Rozgar Yojana (PMRY)

Source:- https://globemixer360 . com/youth-problems-unemployment/

Eligibility Criteria for Pradhan Mantri Rozgar Yojana (PMRY)

These are the eligibility criteria for the Pradhan Mantri Rozgar Yojana (PMRY). Check out the criteria carefully

All the educated unemployed youth are eligible for the scheme

The applicant has to be a permanent inhabitant of the particular area for minimum of 3 years

The limit of minimum age is 18 years and

The limit of maximum age is 35 years

However, for the North East section, the limit of age is extended up to 40 years

For ST / SC / OBC, women, physically handicapped and ex-servicemen, the limit of age is extended up to 40 years

The applicants have to be at least 8th standard passed

Those youth who have been trained for at least six months in any business in government recognized / approved institutions will be given the first Preference.

Income of beneficiary with wife / husband and parents should not be more than INR 40,000 / – per year

Procedure For Pradhan Mantri Rozgar Yojana Loan Online Offline

Source:- http://governmentyojana . com/pradhan-mantri-rozgar-yojana-pmrpy/

Procedure For Pradhan Mantri Rozgar Yojana Loan Online/Offline:

Once the applicant’s project is selected for the loan, the applicant has to fill the form from the bank and filling the form; submit the necessary documents along with all the form and photograph to the local bank.

After this, the applicant has to appear in the bank at the time required for the evaluation of the documents by the bank and for the interview.

After completion of the loan process, 15% of the cost of the project is available under the scheme and 5% of the candidates have to be invested with them.

Use the OFFICIAL WEBSITE to make applications online for the Pradhan Mantri Rozgar Yojana loan online.

You can also print out the Pradhan Mantri Rozgar Yojana Form from Here.

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