| Sl.No. | Parameter |
| 1 | Age |
i) 18 to
35 years for all educated unemployed in the country except in the northeastern
region. ii)
18 to 40 years (for all educated unemployed in Northeast States.) iii)
18 to 45 years (for Scheduled Caste/Scheduled Tribes) Ex-Servicemen, physically
handicapped and women. |
| 2 | Educational
Qualification | VIII
th passed. Preference will be given to those who have been trained for any trade
in Government recognized / approved Institutions for duration of at least six
month. |
| 3 | Family
Income | i)
Neither the income of the beneficiary along with that of the spouse, nor the income
of parents of the beneficiary, shall exceed Rs.24, 000/- p.a. ii)
Up to Rs.40, 000/-p.a. for Northeast States. |
| 4 | Residence | Permanent
resident of the area for at least 3 years. |
| 5 | 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. |
| 6 | Activities
Covered | All
economically viable activities including agriculture and allied activities but
excluding direct agricultural operations raising Crop, purchase of manure etc. |
| 7 | 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. |
| 8 | Subsidy
& Margin Money | i)
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 cost so as to make the total of the subsidy
and the margin money equal to 20% of the project cost. For
North Eastern States:
ii) Subsidy @ 15% of the project cost subject
to a ceiling of Rs. 15,000/- for northeastern states. Margin money contribution
from the entrepreneur may vary from 5% to 12.5% of the project cost so as to make
the total of the subsidy and the margin money equal to 20% of the project cost.
|
| 9 | Collateral | No
collateral for project upto Rs.1.00 lakh. Exemption from collateral in case of
partnership project will also be limited to an amount of Rs.1.00 lakh per person
participating in the project. |
| 10 | Rate
of Interest | Normal
rate of interest shall be charged and schedule may range between 3 to 7 years
after an initial moratorium as may be prescribed. |
| 11 | Reservation | Preference
should be given to weaker sections including women. The scheme envisages 22.5%
reservation for SC/ST and 27% for Other Backward Classes (OBCs). In case of SC/ST/OBC
candidates are not available, States/Uts Govt. will be competent to consider other
categories of candidates under PMRY. |
| 12 | Training
| Each
entrepreneur whose loan is sanctioned is provided training as per details given
below -- -
For industry sector :
Duration : 15-20 working days.
Stipend : Rs. 300/-
Trainer's expenditure :
Rs. 700/- -
For service & business sector :
Duration : 7-10 working days.
Stipend
: Rs. 150/-
Trainer's expenditure:
Rs. 350/ |
| 13 | Implementing
Agency | The
District Industry Centres and the Directorate of Industries are mainly responsible
for implementation of the Scheme, along with the banks. |
