Golden opportunity to start your own business! Government is giving loan of ₹ 20 lakh, apply without delay like this

PM Mudra Yojana: Startup culture is growing very fast in India. New ideas related to business among the youth have given further impetus to this tradition. However, it has also been seen many times that people want to do business and they also have excellent planning. But, due to financial constraints they are not able to progress in it. If you are also planning any business and money is becoming a hindrance in it, then this news is definitely for you. In this situation the central government can help you.

Actually, under the government scheme PM Mudra Yojna, you can get financial help to start a business and that too up to Rs 20 lakh. In order to provide more benefits to the beneficiaries, it was announced in the budget to double the limit of loans available under different categories. The most important thing is that this is PM Mudra Loan given by the government.

Government will give loan up to Rs 20 lakh

During the budget speech of FY2024-25, Finance Minister Nirmala Sitharaman had announced to double the loan limit under PM Mudra Yojana to Rs 20 lakh. Earlier, the limit of Mudra loan under Pradhan Mantri Mudra Yojana (PMMY) was up to Rs 10 lakh. If we look at the notification issued in this regard, a new category of Tarun Plus was added to the scheme.

PM Mudra Yojana was started in 2015

PM Mudra Yojana was started by the Modi government in the year 2015 and it was introduced especially for those who want to start their own business. Any citizen of the country can apply for this Mudra Scheme for Business Startup. One thing to keep in mind is that this loan is given to start non-corporate and non-agriculture business. Under this government scheme, by April 2025, loans worth more than Rs 33.65 lakh crore had been distributed through 52.37 crore loans.

This loan is available in 4 categories

Under PM Mudra Scheme, the government gives loans in four categories. The first one is Shishu Loan, the second one is Kishore Loan, the third one is Tarun Loan and the fourth one is Tarun Plus Loan.

• Loan up to Rs 50 thousand under Shishu Loan for business
• Loan from Rs 50000 to Rs 5 lakh under Kishore Loan
• Loan of Rs 5 lakh to Rs 10 lakh on application under Taran Loan.
• Loan from Rs 10 lakh to Rs 20 lakh under Tarun Plus Loan

It is noteworthy that loans above Rs 10 lakh and up to Rs 20 lakh are available to those applicants who have previously successfully repaid the loan taken under Tarun category.

No guarantor required in the beginning

The special thing about this scheme of the government is that if you take a child loan, then you have to give any kind of guarantee or guarantor while applying for it. Apart from this, there is no processing charge. Talking about the interest rates of this government loan, according to the SBI website, it is 3.25% more than EBLR or usually 9 to 12 percent.

Documents required for loan

The minimum age limit to apply for PM Mudra Loan is 18 years. If you are applying for this government loan, then make sure that you do not have any bank default history. If we talk about the documents required for this, then Aadhar card It is necessary to have Aadhar Card, PAN Card, residence certificate, passport size photograph, a business plan, KYC document and income proof.

Also read: Expensive houses and layoffs in IT sector! Home sales decreased by 14% in 7 big cities, will prices reduce now?

Where can I apply?

You can apply for loan under Mudra Yojana by visiting your nearest bank or online application Facility is also provided. For more information related to this you can visit.