PM MUDRA Scheme 2023: Pradhan Mantri MUDRA Yojana (Pradhan Mantri MUDRA Yojana) provides loans without guarantee to those starting small industries! Till now if someone wanted to start his own industry! So he had to go through a complicated process after going round the banks. And the bankers used to search for property in the form of mortgage. But through Pradhan Mantri Mudra Yojana (PMMY), such a person who wants to open a small industry for his livelihood! Loans are provided to them without any guarantee!
PM MUDRA Scheme 2023
The Prime Minister launched Pradhan Mantri MUDRA Yojana in April 2015 to start small industries. This scheme is provided to small entrepreneurs with loans up to ₹ 10 lakh without any guarantee! MUDRA is a subsidiary of Small Industrial Bank of India (SIDBI). In the scheme (PMMY) whose job is to fund and support all SEM business! So that they can develop! Mudra loans can be taken from any micro financial institution, commercial, private and public sector banks, regional rural banks, scheduled urban cooperative banks and state cooperative banks.
Objective of Pradhan Mantri Mudra Yojana
Pradhan Mantri MUDRA Yojana has two main objectives, first not to provide loans for self-employment and secondly to create employment through small enterprises! If you also want to start the industry! And facing the problem of capital! So you can make your dream come true by taking loan through Pradhan Mantri Mudra Yojana (PMMY)!
PM MUDRA Scheme 2023
This is the thinking of the government behind this Pradhan Mantri Mudra Yojana! That many entrepreneurs who want to start their own self-employment! And they have a plan too! But due to lack of money, they are not able to start their own business. By the way, people can start their self-employment by taking advantage of this scheme (PMMY)! And can create employment!
Focus on women under Pradhan Mantri Mudra Yojana
Emphasis has also been laid on the upliftment of women under Pradhan Mantri Mudra Yojana. The special thing about this scheme (PMMY) is that three out of four borrowers are women.
There are 3 types of loans under Mudra Yojana
Shishu Loan: In Pradhan Mantri Mudra Yojana (Pradhan Mantri MUDRA Yojana), the applicant is given loan up to 50000 / – ₹ under the Shishu loan! In the lock down, the government has given an interest subsidy of 1500 crores under the Shishu loan. Government of India will provide 2% discount to those who get fast loan for a period of 12 months.
Kishore Loan: Loans ranging from 50000 ₹ to 500000 ₹ are given under Kishore Loan in the scheme (PMMY)!
Tarun Loan: Loans ranging from ₹ 5 lakh to ₹ 10 lakh are given under Tarun Loan!
Interest charged under Mudra Yojana
No fixed interest amount has been fixed under Pradhan Mantri Mudra Yojana! Different banks can set different interest under Mudra loan. Scheme (PMMY) Interest is also determined on the basis of the nature of the business taking the loan and the risk under it! Normally the minimum interest rate is 12%.
Benefits of Pradhan Mantri Mudra Yojana
Loans are given without guarantee under Mudra Yojana (PMMY). Means those unemployed youth who want to start their self-employment, but they do not have any property to take loan, they can easily get loan without any guarantee under this!
There is no processing charge for the loan under this scheme!
Loan repayment period can be extended up to 5 years under Mudra Yojana.
In Pradhan Mantri Mudra Yojana (Pradhan Mantri MUDRA Yojana), the person taking the loan gets a currency card! So that from time to time it can spend as per the requirement.
Pradhan Mantri Mudra Yojana Eligibility: PM MUDRA Scheme 2023
Any Indian citizen who wants to start his own industry! He can take loan under Pradhan Mantri Mudra Yojana (PMMY)! If you want to increase your self employment! And they don’t have such! So you can take a loan of up to ₹ 10 lakh under Pradhan Mantri Mudra Yojana!