The ministry said on Friday, by increasing the loan limit, we want to advance the overall objective of the Mudra scheme.
Pradhan Mantri Mudra Yojana; Emerging entrepreneurs get loans up to Rs 20 lakh News In Hindi: The government has doubled the loan limit under the Pradhan Mantri Mudra Yojana (PMMY) to Rs 20 lakh to promote entrepreneurship. The Finance Ministry has issued a notification in this regard. According to this, the new category of Tarun Plus is for loans above Rs 10 lakh and up to Rs 20 lakh. This facility will be available to those entrepreneurs who have successfully paid the previous deeds under Tarun category.
The ministry said on Friday, by increasing the loan limit, we want to advance the overall objective of the Mudra scheme. This growth is beneficial for budding entrepreneurs. This will help in their development and expansion. The move is in line with the government's commitment to promote a strong entrepreneurship ecosystem.
Finance Minister had announced in the budget
While presenting the Union Budget 2024-25 on July 23, 2024, Finance Minister Nirmala Sitharaman had said that the current limit of loan under PMMY will be increased from Rs 10 lakh to Rs 20 lakh. Prime Minister Modi launched the scheme on April 8, 2015. , Its objective is to provide easy and guarantee-free micro loans up to Rs 10 lakh to non-agricultural, small and micro and non-corporate entrepreneurs.
Under the Grand Scheme, banks provide loans in three categories for the expansion of enterprises. Under the Shishu category, loans up to Rs 50,000 and under the Kishore category between Rs 50,000 and Rs 5 lakh are given without any guarantee. Under Tarun category, loans up to Rs 10 lakh are provided to businessmen. These loans are provided by member lending institutions (MLIs), banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries.
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