MYSY FAQ: Frequently Asked Questions

Mukhyamantri Yuva Swarojgar Yojana — a Uttar Pradesh state government self-employment scheme for youth.

Generally, one project can draw subsidy/margin money under only one self-employment loan scheme, not both. See our MYSY vs CM-YUVA comparison.

The scheme itself does not charge a government application fee — you should never need to pay anyone to submit your MYSY application on the official portal.

Timelines vary by district and bank workload — from online submission to loan disbursement can reasonably take a few months when there are no complications.

No — MYSY's age limit is fixed at 18–40 years.

Collateral requirements depend on the bank's own policy and the loan amount — this isn't fixed by the MYSY scheme itself, so confirm with your sanctioning bank branch.

Standard bank loan-default consequences apply, as with any bank loan — and a default would also affect your eligibility for future government scheme loans.

MYSY is aimed at setting up new units — check with the portal or your district office if you're expanding an existing unit rather than starting fresh, since the scheme is oriented toward new self-employment ventures.

MYSY covers manufacturing/industry and service-sector businesses — see our business ideas guide for examples of each.

Status is tracked through the Directorate of Industries UPMSME portal where you applied (diupmsme.upsdc.gov.in) — you can also contact the official helpline (155343) for updates.