New Delhi. There is good news from the Central Government for the people and small businessmen who are dreaming of starting their business in the country. The government is providing financial assistance to small entrepreneurs through the Pradhan Mantri Mudra Yojana. In this context, it has been decided to continue the scheme for the next five years and sanction a credit guarantee fund of Rs 5,000 crore for it. This will help small businessmen and MSME sector to move forward.
Pradhan Mantri Mudra Yojana was launched by Prime Minister Narendra Modi on 8 April 2015. The main objective of this scheme is to provide loans without any guarantee to small businessmen, shopkeepers and new entrepreneurs. Till now, loans worth about Rs 33 lakh crore have been distributed under this scheme.
How much loan will be available under Mudra Yojana?
Under this scheme, loans are given in four categories according to the needs of the business. In this, eligible applicants can take loan ranging from Rs 50 thousand to Rs 20 lakh.
Loan Category Amount Available
Infant: Up to Rs 50,000
Kishore: Rs 50,001 to Rs 5 lakh
Tarun: Rs 5 lakh to 10 lakh
Tarun Plus: Rs 10 lakh to Rs 20 lakh
Who can avail the benefits of the scheme?
Pradhan Mantri Mudra Yojana can be availed by such Indian citizens who want to start their own small business in non-agricultural sector or want to expand the existing business. The applicant's bank should not be a defaulter. The loan is approved by the bank after examining the eligibility and business requirements.
How to apply for Mudra Loan?
Interested persons can visit the official website to apply for Mudra Yojana. The application process can be completed according to the information available here. Apart from this, you can also approach the nearest bank branch for Mudra loan.