Pradhan Mantri Mudra Yojana, the Indian Government scheme initiated in the year 2015 by Prime Minister. The scheme is especially for those who wants to start their own business. Whether its is small vendor business or industrial business, this scheme helps the needy person. You can get 50,000 to 10 lakhs of an amount under this scheme.
There are three categories under Pradhan Mantri Mudra Yojana, they are as follows:
- Shishu: Loan up to Rs 50,000
- Kishor: This is the mid-level scheme and loan ranging from Rs 50,000 to Rs 5 lakh
- Tarun: Loans ranging from Rs 5 lakh to Rs 10 lakh
Benefits/ Advantages of Pradhan Mantri Mudra Yojana:
- Whether it is a small business or Pradhan Mantri Mudra Yojana provides loan according to the applicant.
- The scheme provides you a loan of 50,000 to 10 lakhs of an amount.
- You will be benefited the loan scheme without any guarantor.
- You will be not charged any kind of fees in processing Pradhan Mantri Mudra Yojana scheme.
- The interest rate would be applicable as per the RBI guidelines
- The money lenders that helps needy people financially, the exploitation of such lenders will be reduced and stopped.
- Mudra bank loan Yojana comes with the Mudra card that would be like the credit card. The loan applicants can use this Mudra card for optimum use at times of urgent necessities
- Security free loan
- Borrowers would not charge any processing fee which is ideally in the range of 1% to 2%.
Who can avail loan facility?
- The person looking for loan and aplying for it must be an Indian citizen.
- The loan is approved in rural and even urban areas.
- The allowance is dependent on different areas like small retailers, manufacturing and trading enterprises, women entrepreneurs etc.
- The maximum loan sactioned can be upto Rs 10 lakhs.
also as official says:
Advantage MUDRA: Formalizing the Informal
- Apex Refinancer
- MUDRA Architecture Indigenously Conceived for Indian context
- Inclusion of Last Mile Financiers – a game changing idea
- Help expand Access to finance for micro enterprises
- Lower Cost of Finance
- Credit plus Approach
- Mass Entrepreneurship Development and Growth
- Employment Generation, Higher GDP Growth
Hence get the benefits of Pradhan Mantri Mudra Yojana and start your business. Many people have got the benefits by this scheme, you can be the one to make worth use of Pradhan Mantri Mudra Yojana.