PM Mudra Yojana: Government will now provide loan up to Rs 20 lakh for starting your own business. This scheme is a central government scheme in which loan is available under three categories.
PM Mudra Yojana: Many schemes are being run by the government, which benefit millions of citizens of the country, in these schemes, schemes are being run for women, children, youth, so that they can improve their future by taking advantage of these schemes. Both the central government and the state government run different schemes.
One such scheme is PM Mudra Yojana, which is a central government scheme, in this scheme the government gives loans to start a new business and to take forward the old business. Three types of loans are provided under this scheme. Let us know all the information about this scheme in detail
There are three types of loans available under Mudra Loan
PM Mudra Yojana provides three types of loans – Shishu Loan, Kishor Loan and Tarun Loan. Under the Shishu category, loans up to ₹50,000 are taken and under the Kishor category, loans ranging from ₹50,000 to ₹5 lakh are given while under the Tarun category, loans ranging from ₹5 lakh to ₹10 lakh are given. This loan is taken to start and expand business.
Who gets a loan of up to 20 lakhs?
Under PM Mudra Yojana, a loan of up to 20 lakhs is given to those people who have already taken a loan of up to 10 lakh rupees in the Tarun category and have repaid it on time. The government gives them an additional loan of up to ₹20 lakh so that they can run their business well.
Who is eligible for the scheme?
PM Mudra Yojana provides non-agricultural micro and small enterprise loan. Enterprises involved in agriculture related activities can also apply for this scheme. Apart from this, individual entrepreneurs, private limited companies and public companies can also apply for it.
Benefits of the scheme
PM Mudra Yojana provides loans without guarantee. No processing fee is charged for giving loans under this scheme. Under this scheme, small businesses are given loans up to Rs 10 lakh. Under this scheme, entrepreneurs who have repaid a loan of Rs 10 lakh get a loan of up to Rs 20 lakh. Agriculture related activities such as dairy industry and poultry farming are also included in this scheme. Micro and small scale industries are promoted under this scheme. Women are also equally eligible to apply under this scheme.
