PRIME
MINISTER ROZGAR YOJANA (PMRY)
The
Government of India has instituted a PMRY scheme in 1993.
Under this Scheme, any educated unemployed youth having passed
VIII Std. and above in the age group of 18-35 years in general
with a relaxation of 10 years for SC/STs, ex-serviceman, physically
handicapped, and women, can avail of a loan upto 1 lakh for
a business sector without producing a collateral security
and Rs. 2 lakh for other activities.
ELIGIBILITY
Any
unemployed educated person living in any part of the country
either rural or urban fulfilling the following conditions,
is eligible for PMRY Scheme.
i)
Age For all educated unemployed in the age group of 18-35
years general, with 10 years relaxation for SC/STs, ex-servicemen,
physically handicapped and women.
ii)
Educational VIII th passed. Preference will be given to Qualification
those who have been trained for any trade in Govt. recognised/approved
institutions for a duration of atleast six months.
iii)
Family income Neither the income of the beneficiary along
with the spouse nor the income of parents of the beneficiaries
shall exceed
Rs. 40,000/- p.a.
iv)
Residence Permanent resident of the area for at least 3 years
v)
Defaulter Should not be a defaulter to any Nationalised Bank/financial
institution/Co-operative Banks Further a person already assisted
under other Subsidy linked Govt. schemes would not be eligible
under this scheme.
ACTIVITIES COVERED
All
economically viable activities including agriculture and allied
activities such as horticulture, piggery, poultry, fishing
etc., but excluding direct agricultural operation like rising
crop, purchase of manure etc.
PROJECT COST
Rs.1.00
lakh for business sector. Rs. 2.00 lakh for other activities,
loan to be of composite nature. If two or more eligible persons
joins together in a partnership, project upto Rs. 10.00 lakhs
are covered. Assistance shall be limited to individual admissibility.
SUBSIDY
& MARGIN MONEY
Subsidy
will be limited to 15% of the project cost subject to ceiling
of Rs.7.500/-per entrepreneur. Banks will be allowed to take
margin money from the entrepreneur varying from 5% to 16.25%
of the project cost so as to make the total of the subsidy
and the margin money equal to 20% of the project.,
COLLATERAL
SECURITY
No
collateral security for project upto Rs 1.00 lakh.. Exemption
from collateral in case of partnership project will also be
limited to an amount of Rs. 1.00 lakh per person participating
in the project.
RATE
OF INTEREST & REPAYMENT SCHEDULE
Normal
bank rate of interest shall be charged. Repayment schedule
may range between 3 to 7 years after an initial moratorium
of 6 to 18 month as may be prescribed.
IMPLEMENTING AGENCY
The
District Industry Centre (DIC) and the Directorate of Industries
shall mainly be responsible for scheme implementation along
with Lead Banks.
RESERVATION
Preference
is given to weaker sections including women. The scheme envisages
22.5% reservation for SC/ST and 27% for other Backward Class
(OBCs). In case SC/AST/OBC candidates are not available, State/UTs
Govt. will be competent to consider other categories of candidates
under PMRY.
DISBURSEMENT
OF LOAN UNDER PMRY
i)
Receipt of loan application from the beneficiary requesting
for financial assistance under the scheme.
ii)
Scrutiny of the application including checking of project
report and ensuring their all the required documents as required
under the guidelines of the scheme, are in order.
iii)
Put up the case papers for acceptance/perusal of the GM(DIC)
through Asstt. Director (PMRY) .
iv)
Preparation of checklist.
v)
Once minimum 25 applications are received, the date for interviewing
the beneficiary is fixed by the Chairman GM(DIC).
vi)
The Task Force Committee after interviewing the beneficiary
finds that the case is viable and is as per the guidelines
of PMRY the same is recommended to the concerned Bank in the
service area for sanctioning the loan.
vii)
On sanctioning the loan, the Bank informs the DIC about it
and requests to impart training to the beneficiary.
viii)
Name of the beneficiary is recommended for training to EDC
or SISI depending upon the location of the activity
ix)
On receipt of the certificate of completion of training, the
concerned Bank is informed, for disbursement of loan.
Any
person desiring to avail of the benefits of PMRY should contact
the General Manager (DIC), or Assistant Director ( PMRY) Directorate
of Industries & Mines, Udyog Bhavan, Panaji-Goa
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