PM Mudra Yojana: The Government of India runs many different types of schemes for the citizens of the country. Different types of schemes are introduced by the government keeping in mind the needs of people from different sections. For some time now, the central government has been bringing various schemes to promote self-reliant India. In this, the Mudra Loan Scheme was started in the year 2015 to promote the youth towards self-reliant India.
Under this scheme, the government provides a loan of up to Rs 10 lakh for business. In the recently presented budget, Finance Minister Nirmala Sitharaman has announced to increase the loan amount from Rs 10 lakh to Rs 20 lakh in the Mudra Loan Scheme. Who can get the benefit under the Mudra scheme and what mistakes should be avoided. Let us tell you.
Three types of loans are given under Mudra Yojana
Three types of loans are given under the Pradhan Mantri Mudra Loan Yojana run by the Government of India. The first loan is Shishu Loan in which a loan of up to 50 thousand rupees is given. The second loan is Kishor Loan in which a loan of up to 5 lakh rupees is provided. The third and the biggest loan is Tarun Loan in which an amount of up to 10 lakh rupees is given. Which has now been increased to 20 lakh rupees. Let us tell you that a loan of 20 lakhs can be availed only by those people. Who have repaid the earlier Tarun loan on time.
These people get loan under Mudra Yojana
The applicant applying for Pradhan Mantri Mudra Loan Yojana must be a citizen of India. The applicant should not have any previous bank default history. The type of business for which the Mudra loan is being taken should not be a corporate organization. The applicant applying for the loan must have a bank account and along with this his age should be more than 18 years. If any of these conditions for the loan are not fulfilled then the loan will not be given.
How to apply for a loan?
To take a loan under the Pradhan Mantri Mudra Yojana, the applicant will first have to visit the official website of the scheme, mudra.org.in. After this, the loan page will open where all three types of loans, Shishu, Kishor and Tarun, will appear. You will have to choose the category according to your choice. After this, an application form will appear in front of you, after downloading which you will have to fill the form completely.
After filling the form, you will have to attach some related documents with it which will include things like PAN card, Aadhar card, address proof, ITR and passport size photo. After this, you will have to submit the application to the nearest bank. Your application will be verified by the bank. After that you will be given the loan within a month.