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i want to get loan from pmry scheme? i want to know about how to get this?? pl. help me??
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In
Personal Loan
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Asked by m.kasiviswanathan -
3 years ago
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Best Answer:
To get loan from pmry scheme you have to fulfull eligibility criteria which is as following:
# Age: For all educated unemployed between the age group of 18-40 years, in general with a 10 years relaxation for SC/STs, ex-servicemen, physically handicapped and women.
# Educational Qualification: 8th passed. Preference will be given to those who have been trained for any trade in Government recognised/approved institutions for a duration of at least six months
# Family income: Neither the income of the beneficiary along with the spouse nor the income of parents of the beneficiaries shall exceed Rs.40000 pa
# Residence: Permanent resident of the area for at least 3 years.
# Defaulter: Should not be a defaulter to any nationalized bank / financial institution/cooperative bank. Further, a person already assisted under other subsidy linked government schemes would not be eligible under this scheme.
# Activities covered: All economically viable activities including agriculture and allied activities but excluding direct agricultural operations like raising crop, purchase of manure etc.
# Project cost: Rs.1.00 lakh for business sector. Rs. 2.00 lakhs for other activities. Loan to be of composite nature. If two or more eligible persons join together in a partnership, project upto Rs.10.00 lakhs are covered. Assistance shall be limited to individual admissibility.
# Subsidy and 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 costs as to make the total of the subsidy and the margin money equal to 20% of the project cost.
# Collateral: No collateral for project upto Rs.1 lakh. Exemption from collateral in case of partnership project will also be limited to an amount of Rs.1 lakh per person participating in the project.
# Rate of interest and repayment schedule: Normal bank rate of interest shall be charged. Repayment schedule may range between 3 to 7 years after an initial moratorium as may be prescribed.
# Training and other assistance: the training expenses and operational expenditure to be covered within the ceiling of Rs.2,000 per case. The existing system of revising the scale of expenditure in consultation with the Finance for various activities and flexibility would be available to the implementing agencies of the state and central levels subjects to condition that over all training and operating expenses remain within the ceiling of Rs.2,000/- per case sanctioned.
# Implementing agency: the District Industries Centres and the Directorate of Industries shall mainly be responsible for scheme implementation along with banks
# Linkages of targets with recovery: Basic minimum targets based on the population and the number of educated unemployed, Additional targets would be linked to the recovery of loans sanctioned, past performance of sanctions or special circumstances prevailing in the state/UT.
# Reservation: Preference should be 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/ST/OBC candidates are not available, States/UTs Government will be competent to consider other categories of candidates under PMRY.
You can check other details on the website:
http://dcmsme.gov.in/publications/pmryprof/ABOUTPMRY.html
3 years ago - By Geetu
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