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Pradhan Mantri Rozgar Yojana 2022

Last Updated 20th Jan 2022

  • Pradhan Mantri Rozgar Yojana functions to provide financial support to the unemployed youth in the country by providing self-employment opportunities.
  • This scheme generates a subsidy of up to 15% of the project cost on the borrowed loans.
  • The affordable interest rates charged and unique features of PMRY make it convenient to the borrowers.
  • As per the PMRY scheme, one can borrow a maximum amount of ₹ 5 Lakh.
  • The PMRY loan tenure ranges from 3 years to 7 years.
  • The benefits of PMRY schemes can be availed only when the beneficiaries are eligible and have passed the 8th standard.
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PMRY Scheme

Pradhan Mantri Rozgar Yojana is a government initiative that caters to the educated unemployed youth of the country. Under this scheme, the government provides PMRY Loans upto ₹ 5 Lakh to the business setups in manufacturing, industry and service sectors.

Features of Pradhan Mantri Rozgar Yojana 2022

Some features of the PMRY scheme are listed as follows:

  • Project cost: PMRY scheme grants loans as per the nature of the business sector. The project costs generated under the scheme based on the sectors are listed below:
    Business Sector Loan Amount
    Business sectors ₹ 2 Lakh
    Industry Sectors ₹ 5 Lakh
    Service Sectors ₹ 5 Lakh

  • Margin: The margin on the PMRY scheme varies across different lenders. The PMRY loan borrowers have to pay margin money of 5% to 16.25% of the project cost.
  • Subsidy: The subsidy amount under the scheme can be up to 15% of the project cost and is capped at ₹ 12,500 per individual. However, the total sum of subsidy and margin money should not cross the mark of 20% of the total project cost.
  • Repayment: PMRY subsidy offers easy repayment options. The loan can be repaid in EMIs through the repayment tenure ranging from 3 years to 7 years.
  • Training: The beneficiaries belonging to the industry sectors are required to go through a training period of 15 to 20 days for their business. The training period for those from the business and service sectors is 7 to 10 days. The training can cost up to ₹ 2,000 per beneficiary.
  • Collateral-free loans: The loan borrowers under the scheme can avail a collateral-free loan of up to ₹ 1 Lakh.

PMRY for the North and Eastern Regions

The Pradhan Mantri Rozgar Yojana is regulated centrally across the country. However, there are certain separate provisions for North and Eastern regions, as listed below:

  • Projects cost: Up to ₹ 2 Lakh.
  • Subsidy: Up to 15% of the project cost with a maximum of ₹ 15,000 .
  • Margin money: Ranging between 5% and 12.5% of the project cost.

Eligibility of Prime Minister Rozgar Yojana

To avail the benefits of the Pradhan Mantri Rozgar Yojana, you must fulfil the following eligibility criteria.

  • Age: Applicants must belong to the age category ranging from 18 years to 35 years. However, the age limit for women and SC/ST applicants can go beyond 35 years. For applicants belonging to the North and Easter regions, the upper age limit has been raised to 40 years.
  • Educational qualification: Previously, the educational qualification was set at 10th standard. However, as per recent modification, individuals who have cleared 8th standard can apply for PMRY.

  • Family net income: The net monthly income of the applicant together with other family members, must not be more than ₹ 40,000 .
  • Residence: The applicant must be a permanent resident for a minimum of 3 years in an area. The residency proof is a compulsory document requirement while making the application.
  • Repayment history: The applicant must not be a loan defaulter at any national bank or financial institute and must not have availed any benefit under any Government financed subsidy-linked scheme.
  • Coverage: Trade, manufacturing and service sectors are covered by the scheme. Any direct agriculture activities like crop raising, manure purchase and so on are excluded.
  • Reservation: Weaker sections such as SC and ST, including women applicants can enjoy reservation under the scheme.

How to Apply for PMRY Loan?

Once you have finalized the project concept or idea for your business or enterprise, you can make the PMRY application in three simple steps.

  • Collect the PMRY application form offline or you can download the form on the PMRY official online portal.
  • Fill in the form with all necessary data.
  • Submit the form at the respective bank or District Industries Centre coupled with the required documents. In case of online application, upload the form with the scanned copies of documents.

Once you have successfully submitted the application form, the respective bank will contact you, and the following steps will be followed.

  • Your application will be reviewed.
  • If your application gets selected, an interview will be scheduled.
  • The final selection is made based on a total of three interviews.

Documents Required for PMRY Scheme

The individuals must produce the following set of documents while applying for Prime Minister Rozgar Yojana.

  • License for driving
  • Date of Birth certificate (SSC Certificate or Transfer Certificate)
  • Proof of residency indicating three years of permanent residency, ration card or other residency proof
  • MRO issued income certificate
  • MRO issued caste certificate (if required)
  • Certificate of EDP training
  • Proposed Project Profile copy
  • Experience certificate, qualification certificate and technical certificate.


How do I apply for the PMRY scheme?

You can apply for the PMRY scheme by contacting any PMRY lender. For the PMRY application, collect the PMRY application form, fill up with necessary data and submit the form at your preferred bank along with the required document. Once, you have submitted the application form; the bank will review the application and schedule an interview.Apart from the offline method, you may also apply for PMRY on the online portal of the PMRY provider.

Who started PMRY?

The Government of India launched the PMRY initiative in 1993 for creating employment opportunities throughout the country.

What is the aim of PMRY?

The aim of PMRY is to assist the unemployed youth of the country in setting up a business for self-employment by providing them with financial support. The scheme provides assistance to eligible youth involved in manufacturing, service or industry sectors.

How long does it take to get a PMRY loan?

Once the application is selected, you will receive training for 15 to 20 days. Once the training period is completed, the loan amount will be disbursed to your bank account.

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