Employment Loan Scheme: If you are an educated youth but you are not getting employment. In such a situation, if you want to start your own business but you do not have sufficient amount available for it, then do not worry. Today we have brought such information for you through which you can start your own business. Let us tell you that a scheme has been started by the Central Government for educated youth, whose name is Employment Loan Scheme. You can take loan under this scheme. If you also want to take advantage of this scheme then stay with us.
Loan being given by the central government
In our country, Pradhan Mantri Rojgar Yojana (PMRY) was started in the year 1993 by the Central Government to provide permanent self-employment opportunities to one million educated unemployed youth and women. This scheme provides financial assistance to people to start their business in trade and service sector.
The target of PMRY will be to establish 7 lakh small businesses in service and trade sector in 2 years and 6 months. The objective of small scale industries (SSI) is to utilize local resources and use technology for production. They earn profits from industry and local market. Under this scheme, unemployed youth are provided loans to start their own business.
Necessary eligibility for employment loan scheme
- Only unemployed people can apply for this scheme.
- The age of the applicant should be between 18 to 35 years.
- The applicant should be at least 8th pass.
- The applicant must be a permanent resident of a specific area for at least 3 years.
- The annual income of the applicant’s family should not exceed Rs 2 lakh.
- The applicant should have a clean payment record and should not be a defaulter of any financial institution.
Various benefits available in employment loan scheme
- PMRY is a scheme run by the Central Government.
- Beneficiaries are given training for 15-20 days to ensure that they start their businesses properly.
- The main body of this scheme is the Development Commissioner under the Ministry of Small Scale, Rural and Agro Industries.
- Commissioner/Director of Industries implements this scheme at the state level except four metropolitan cities of the country.
- Every quarter, the state level PMRY committee examines the progress of the scheme.
- The implementing agencies of this scheme are metropolitan cities of the country.
- The aim of this scheme is to increase the areas of small tea gardens, fish farming, poultry farming, pig farming and horticulture.
- There is a provision of easy equated monthly installments (EMI) for the beneficiary to start his business.
प्रधानमंत्री मुद्रा लोन योजना
Documents required for loan
- driving license
- EDP Training Certificate
- A copy of the proposed project profile
- Experience, Qualifications, and Other Certificates
- Proof of date of birth (SSC certificate or school TC)
- Proof of 3 years residence, ration card or other
- Income certificate issued by MRO (Divisional Revenue Officer)
- caste certificate
For employment loan scheme How to apply
- To apply for the scheme, first apply for PMRY. official website will go on.
- Now you will have to download the application form from the website and enter correct information in it.
- Now the form will have to be submitted in the bank which is listed under PMRY (Pradhan Mantri Rozgar Yojana).
- The information filled in your form will be verified by the bank.
- Once everything is correct, the concerned bank will contact you.
- In this way you can apply for employment loan scheme.