PMRY – Full Form, Scheme, Loan, Apply Online


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Pmry - (Pradhan Mantri Rozgar Yojana)

Pradhan Mantri Rozgar Yojna (PMRY)

The Pradhan Mantri Rozgar Yojna is a scheme that was first launched in the year 1993. This is an initiative taken by the Indian Government with the aim of providing opportunities for self – employment. The target demographic of the scheme are the educated unemployed youths of the country.
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The Pradhan Mantri Rozgar Yojna is a loan scheme that can be taken up by the educated youth of the country. Using this loan scheme, the youth in the financial assistance and support need to start their own start-up or business venture in sectors such as service, manufacture, and trade.

Objective of PMRY

The Pradhan Mantri Rozgar Yojna swerves to accomplish mainly 2 objectives. The first being to generate an incentive for employers to generate new employment in their establishments. The Government of India will be paying 8.33% EPS contribution of the employer for the new employment.

The second objective of PMRY is to facilitate a large number of educated unemployed individuals to gain employment in their field. By doing so, these workers will gain the direct benefit of getting access to social security benefits which come with working in the organized sector.

Features of PMRY

The features of Pradhan Mantri Rozgar Yojna are as follows:

  • Coverage: the PMRY scheme offers business, service and industry sector coverage of Rs.2, Rs.5, and Rs.15 lakh respectively.
  • Collateral: this scheme offers collateral-free loan up to Rs.1 lakh.
  • Repayment: when it comes to repayment, the beneficiary has an extended repayment tenure of 3 to 7 years from the time of moratorium.
  • Additional training: those who apply for the PRMY scheme and borrow from it will receive a 15 to 20 day training period. This training period is to help the individual know the ins and outs of setting up their own business. The training aims to equip the borrowers with the right knowledge of where and how to invest their fund in establishing their business/organization successfully.
  • Body: The main body of this Government Scheme is the Development Commissioner which is under the Ministry of Small Scale, Rural, and Agro Industries.
  • EMIs: The borrower can receive their loan fund in EMIs (Equated Monthly Instalments). This eases their ability to establish and initialize their business. Similarly, the loan amount can be repaid in similar EMIs such that it does not cause the newly established firm/business to face financial pressure or deficit.
  • Implementation: The Pradhan Mantri Rozgar Yojna is implemented at the State level.
  • Exception: This scheme is implemented in all cities except the 4 metropolitan cities of Chennai, Delhi, Mumbai and Kolkata.
    These 4 metropolitan cities are the ones who are in charge of implementing the PRMY scheme all across the country.
  • Monitoring: Upon availing the PMRY, the State Lever PRMY Committee is in charge of monitoring the progress of the scheme. The committee checks the progress every quarter from the day of implementation.
  • Subsidy: The Pradhan Mantri Rozgar Yojna also provides a subsidy which is 16% of the cost of the project for which the loan is being taken. The maximum cost for the project is capped at Rs.12,500 for each individual.

PMRY Implementation in the North-Eastern Regions of India

The north-eastern regions of Indian consists of places like Himachal Pradesh, Jammu and Kashmir, Uttaranchal, and other such north-eastern regions of India.

These places have special measures and relief norms under which the residence of these regions can avail the Pradhan Mantri Rozgar Yojna.

  • Subsidy: the subsidy component for these regions is at 15% and has an upper cap of Rs.15,000.
  • Assistance: The assistance eligibility which comes with the project has a costing of up to Rs.2 lakh.
  • Percent of Margin Money: The amount of margin money can vary from applicant to applicant. Depending on the cost of the project it can range from 5% to 12.5%.

Eligibility Criteria

The eligibility for the Pradhan Mantri Rozgar Yojna scheme are as follows:

  • The target employees of the PRMY are those who have a per month earning of less than or equal to Rs.15,000. Those who have a monthly wage of more than Rs.15001 are not eligible for the PMRY scheme.
  • Educated employees and unemployed people must be between the ages of 18 and 35 years.
  • The minimum educational qualification must be an 8th standard pass.
  • The applying individual must be a permanent resident of his or her area for 3 to 7 years.
  • The family income of the beneficiary should be less than Rs.40,000 per month.
  • For employers to be eligible, they must have added new employees to their establishment. These new employees must have an Aadhaar seeded Universal Account Number and have not worked in any prior Employer’s Provident Fund Organization or EPFO.
  • The registered EPFO must have a Labor Identification Number or LIN; allotted under the Shram Suvidha Portal.
  • The applicant should have permanent residency in the area for a minimum for 3 years.

Steps to Apply Online for the Pradhan Mantri Rozgar Yojna

In order to apply for the PMRY, the following steps need to be followed:

Step 1: Visit the official Pradhan Mantri Rozgar Yojna website at

Step 2: Download the application file for the scheme and proceed to fill it out with the correct and relevant information –

Step 3: Scan and upload the required documents as images and attach them with the filled out application form.

Step 4:  Submit the filled application form along with the desired documents to the respective bank. After successful submission, the bank will get in touch with you with the details of the loan in due time.

Scheme Details Doc –

Documents Required

In order to apply for the PMRY, the following documents need to be gathered:

  • Proof id identity (driver’s license, PAN card, passport, etc.)
  • Proof of Date of Birth- SSC certificate/ TC from school from which the applicant has graduated
  • MRO issued caste certificate (if applicable)
  • Certificate of Income
  • Proof of residency for a minimum of 3 years.
  • EDP Certificate of Training
  • Certificate of experience, qualification and technical skills.
  • Copy of the Proposed Project Profile

Changes made to the Pradhan Mantri Rozgar Yojna

Over the years, there have been certain changes to the PMRY. These changes have been made to better accommodate the needs of the potential applicants. These changes also offer better eligibility opportunities to the diverse community spread all over the country.

  • The upper age limit for the people of the north-eastern regions of Indian has been raised from 35 years to 40 years.
  • For those women and those belonging to the Scheduled caste or Scheduled Tribe, the maximum age to apply for the scheme has been raised from 35 years to 45 years.
  • The financing for group eligibility has been increased to a modest Rs.5 lakh.
  • The minimum educational qualification for availing the PMRY is now an 8th standard graduate instead of a class10 graduate.
  • The Pradhan Mantri Rozgar Yojna will now also include allied activities and agriculture except for direct agricultural activities like use of manure and its purchase, raising of crops etc.
  • The previous upper limit for a project cost was rs.1 lakh. This amount has been increased to Rs.2 lakh.
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PMRY Loan Scheme FAQs:

1. Can avail benefits of PMRY at the same time as other Government subsidies?

No, if a government subsidy is already assisting you, then you cannot be eligible for the Pradhan Mantri Rozgar Yojna.

2. What activities are covered by the PMRY Scheme?

the PMRY covers all economic activities, including that of agriculture. Though, direct agricultural activities like purchasing of manure or raising of crops are excluded from the scheme.

3. Is there any exemption of collateral in a partnership?

in case of a partnership, the exemption of collateral will be limited to an account of Rs.1 lakh per person who is participating as partners in the project.

4. Is there any special rate of interest for the PMRY scheme?

No. The normal rate of interest will be charged for the loan under the Pradhan Mantri Rozgar Yojna.

5. Is there any reservation factor to the scheme?

The PMRY scheme allows for 22.5% reservation for those who are identified and SC and ST. at the same time 27% of reservation is saved for those from Other Backward Classes. Overall in terms of reservation, the women and the weaker sections of society should be given preference.

6. Is there any expense for the training?

For the industry sector, training has a stipend of Rs.300 and a training expense of Rs.700 per beneficiary. For the Service and business sector, the stipend sits at Rs.150 with the training expenditure being Rs.350 each.

7. What is the minimum education qualification needed to be a beneficiary of the PMRY scheme?

the minimum educational requirement is 8th standard pass. Though, those with training in a particular trade from a Government Recognized Institute for at least 6 months will be given more preference.

8. How long does one need to be s permanent resident to be eligible for the PMRY scheme?

To be eligible for the PMRY scheme, a minimum of 3 years of permanent residency is called for. Though this s relaxed for married men in Meghalaya and married women all over the country.

9. How long are the training period for the PMRY scheme?

The training periods for the scheme are: ~ 15 to 20 working days for those setting up in the industry sector ~ 7 to 10 working days for those setting up in the Business or service sector.

10. After submission of the application form, how long for the bank to get in touch with me with the loan?

After successful submission of the PMRY application form to the respective bank, it takes an average of 4 working days for the bank to get in touch with the applicant with the PMRY loan.

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