PM Employment Scheme Online | Pradhan Mantri Rojgar Yojana 2020 Application Form | Employment Scheme Prime Minister Online Application| PMRY Loan Eligibility
Under the Prime Minister’s Rozgar Yojana, the Government of India is offering a golden opportunity to the jobless youth of our country. So, that they can commence their employment and boost their strength of family and dear friends. Today we are going to give all knowledge about the Prime Minister’s Employment Scheme 2020- its registration process, documents, eligibility, and application, etc.
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Pradhan Mantri Rojgar Yojana 2020
Under the scheme, the central government gives loans to jobless youth of the country by different banks. So, that they can start their own business. The total cost of employment is Rs 2 lakh to start a business by the beneficiaries under Pradhan Mantri Rojgar Yojana. Also, the jobless youth who want to begin their own business but are helpless to start. Due to weak economic situations can avail of this scheme.
PMRY Loan Yojana 2020
The Government of India launches PMRY 2020 to address the growing unemployment of the country.The economically weaker youth of the country whose annual family income from all sources is just Rs.40,000 can avail services. Also, the reservation is for primarily to Scheduled Castes (SC), Scheduled Castes (ST), and Women and Backward Classes (OBC) under this scheme.
The government will also give 10 to 15 days of free trials all jobless youth of the country. So, the youth can run their own business efficiently. Remember, only Jobless youth can get help from the PMRY Loan Scheme 2020.
Key Points Pradhan Mantri Rojgar Yojana
| Parameters | Description |
| Age | 18 to 35 years of age |
| Educational Qualification | At least 8th-class /grade pass |
| Rate of interest | Regular rate determined by the bank |
| Payback time | Three to 7 years after the initial moratorium time has expired |
| Family income | The annual income of the family must not be more than Rs.40,000 |
| Residence | The permanent residence of the beneficiary must be at least three years old |
| Loan defaulter | There should not be a loan defaulter of any nationalized financial institution/bank / cooperative bank |
| Subsidy and Margin Money | The subsidy is limit to 15% of the project cost subject to a ceiling of Rs. 7,500 per borrower |
| Collateral | No collateral for project up to Rs.2 lakh |
| Reservation | Weaker sections (SCs/STs), including women |
Purpose of PM employment scheme
The principal purpose of Pradhan Mantri Rozgar Yojana is to give financial support to the unemployed youth of the country. By providing loans from the banks at a low-interest rate. So, that they can establish their own business, also, work towards reducing unemployment from the country. So, professional people can easily concentrate on the country’s development.
The Prime Minister’s Rozgar Yojana aims to make every jobless person of the country self-reliant and self-dependent. Moreover, not only men of the country, but women are becoming part of the PMRY scheme. Every woman has access to begin their own business.
Interest rates under PM Rozgar Yojana 2020
Different interest rates are chargeable by the government on various amounts under this scheme. As per the existing instructions, if you take a loan under Pradhan Mantri Rojgar Yojana. Then you must pay 12% interest on ₹ 25000. Also, 15.5% interest is more than ₹ 25000 and less than ₹ 1,00,000. As the loan amount increases, the interest rate can also increase.
How much loan sectors can avail under Pradhan Mantri Rozgar Yojana 2020?
Under the Pradhan Mantri Rojgar Yojana 2020, different loan amounts are set for various sectors. Under this scheme, the highest amount of 2 lakh rupees is for the industry sector. Also, a maximum amount of 1 lakh rupees is for the business sector. And, even a maximum of 10 lakh rupees is for the working capital.
Key Facts of Pradhan Mantri Rozgar Yojana
- Following this scheme, the Central Government gives a 10% to 20% subsidy to the beneficiaries.
- This scheme is for economically more backward sections jobless youth and women.
- Under PMRY, the central government gives loans up to 10 lakh to the beneficiaries by banks.
- The annual income of the applicant’s family should not be more than ₹ 40,000.
- For the Scheduled Castes and Scheduled Tribes, this reservation is 22.5 following the Pradhan Mantri Rozgar Yojana. Also, 27% is for the backward classes.
- The total cost of the company started by the jobless youth of the country should not be more than ₹ two lakhs.
Documents required for the Prime Minister’s Employment Scheme 2020
- 18-40 years age group people are eligible to apply for Prime Minister’s Employment Scheme 2020.
- Applicant comprises a passing certificate of 8th class is eligible to apply in this scheme.
- Three years old Permanent residence certificate of the applicant.
- Under this scheme, ten years of age relaxation offers to women, ex-servicemen, handicap, SC / ST category people. That is these people can apply for the next ten years, even after the age of 35.
- Applying under this scheme, the family monthly income of the person must not exceed Rs.40,000.
- The applicant must not own any kind from any bank in his/her previous records.
- Aadhar Card
- Income certificate
- Caste certificate
- Identity card
- Description of the business
- Mobile number
- Passport size photo
How to apply for the Prime Minister’s Employment Scheme 2020?
- First of all, go to the official website of the scheme to apply for the Prime Minister’s Employment Scheme 2020.
- After this, download the application form from the official website of PMRY. After this, fill all the information asked in the application form. The report includes like applicant’s name, Aadhaar number, mobile number, etc.
- After attaching all the documents with the application form, you must go to the bank from which you need a loan and submit it.
- After this, the bank verifies the application form with all documents which take one week. The government official contact with you after one week.
- After verification of the application form and documents. The bank provides a loan to the applicants under this scheme. So, you can start your own business. By this process, your application is complete.
The launches of PMRY is complete financial assistance in starting one’s enterprise in the trade, manufacturing, and services sectors. So, for more details visit the official website of Prime Minister’s Rozgar Yojana.
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