PM Mudra Yojana: Schemes are brought by the Central Government and State Governments for all sections of the society. The purpose of these schemes is to provide help to them and help them in business. One such scheme is of the Central Government, in which loan facility is provided to small traders. Finance Minister Nirmala Sitharaman gave information about this scheme in her budget speech. He told how many people have benefited from this scheme till now. Today we are telling you what is this PM Mudra Yojana and who will benefit from it.
What is Mudra Yojana?
Pradhan Mantri Mudra Yojana (PMMY) was launched to provide loans up to Rs 10 lakh to non-corporate, non-agricultural small/small enterprises. This scheme started on 8 April 2015. People doing small business can take advantage of this scheme. Overall, through this scheme, the government provides help to small businessmen for their financial expenses and to expand their business.
Loan is available in three categories
Mudra loan is available in three ways. Loans are given under Shishu, Kishor and Tarun. Under the Shishu Yojana, a loan of up to Rs 50 thousand is available, under the Kishore Yojana, a loan of Rs 50 thousand to Rs 5 lakh is given and under the Kishore Yojana, a loan of Rs 5 lakh to Rs 10 lakh is given. These three categories have been created to meet the needs of different sectors and businesses. This loan is given to businessmen at cheap interest rates, hence many businessmen are taking advantage of this scheme.
To apply for the scheme, you will have to go to the bank and fill the form, here you will be asked for some documents and if everything is fine, the loan will be issued to you. While giving information in his budget speech, the Finance Minister has said that till now 43 crore loans have been sanctioned under this scheme. A total loan of Rs 22.5 lakh crore has been given.
