Pradhan Mantri Rozgar Yojana or PMRY is a Central Government initiative which aims to provide self-employment opportunities to educated youths who are unemployed. The scheme, launched in 1993, offers unemployed loan to 10 Lakh youth & women.
It provides the necessary financial assistance to help them start their business venture in sectors like service, trade, manufacturing, etc.
Features of Pradhan Mantri Rozgar Yojana
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Eligibility Requirements for Pradhan Mantri Rozgar Yojana
Meet these eligibilities to apply for a loan under the Pradhan Mantri Rozgar Yojana on the official website of PMRY. Several financial institutions also offer personal loan for unemployed individuals to assist them with necessary finance.
Also Read: How Can People with No Income Avail Loan?
Alternatively, you can opt for Loan Against Property from Bajaj Finserv by mortgaging your residential or commercial property. Although not as high as for individuals with a regular income source, a high market value of your property can fetch you a considerable amount.
The Prime Minister Rozgar Yojana (PMRY) is one of the flagship schemes of the Indian Government. It is to create self-employment opportunities sustainable to 10 lakh unemployed and educated youth. Applying for the PMRY scheme in India is easy. Take a look:
The Pradhan Mantri Rozgar Yojana (PMRY) has been implemented since 1993. PMRY is a scheme that has been designed to come up and provide sustainable self-employment opportunities. It is for 1 million educated and unemployed youth in India.
Preference is given to weaker sections, and it also includes women. The scheme covers 22.5% reservation for SC/ST and 27% for OBC. In case SC/ST and Other Backward Classes are not available to apply under the PMRY scheme, states and union territories are allowed to consider other categories of applicants. If you are eligible for the plan, then you can also apply for the Pradhan Mantri Rozgar Yojana online.
The Pradhan Mantri Rozgar Yojana (PMRY) is a lucrative scheme of the Central Government. It aims to provide sustainable self-employment opportunities to 10 lakh unemployed and educated youth.
The selected candidates under the PMRY will be called for training after which certificates will be awarded. The certificates will need to be produced at the bank to get the loan sanctioned loan amount.
For the industrial sector, the ceiling on the training is Rs.1,000 per case. There is a stipend of Rs.500 per case. Funds of contingency will be applicable at Rs.250 per case. It is sanctioned to the states and union territories.
The scheme of the Pradhan Mantri Rozgar Yojana (PMRY) was launched by the Central Government to offer sustainable self-employment prospects. It is given to 10 lakh educated and unemployed youth and women in India.
If you want to start your own enterprise in India, then you can offer financial assistance. It is offered in manufacturing, trade, and service sectors.
For the funds availed under the Pradhan Mantri Rozgar Yojana in India, you are required to make repayments in EMIs. The repayment schedule of the PMRY ranges 3 years to 7 years. It starts after the initial moratorium period in the plan is over.
The Pradhan Mantri Rozgar Yojana (PMRY) is one of the lucrative schemes of the Central Government of India. It offers sustainable self-employment opportunities to 10 lakh educated and unemployed youth and women in India.
The PMRY comes with many benefits such as:
The Pradhan Mantri Rojgar Protsahan Yojana or PMRPY Scheme has been started to incentivising employers to generate new employment, where Government of India will be paying the employers’ Employee Pension Scheme share of 8.33 percent, for new employees for the first three years of their job. In order to avail this scheme, the employees must be registered with the Employees’ Provident Fund Organization, EPFO. This scheme has been started in August 2016. It targets workers who earn wages of less than INR 15000 on a monthly basis. These workers have access to social security benefits of the organized sector.