Under this scheme, financial assistance of Rs 10 lakh was given earlier. Which has now been increased to Rs 20 lakh. This scheme is especially for those people who want to start a new business. In this scheme, you get a fixed-guarantee loan of Rs 20 lakh.
So if you are facing financial problems in starting a business, then you can take the help of this scheme. We are talking about Pradhan Mantri Mudra Yojana. Under this scheme, the borrower gets the opportunity to take a loan in four different categories. You can choose any of these four categories according to your needs.
According to its website, 70 percent of the beneficiaries of this scheme are women. At the same time, under this scheme, the government has so far allocated Rs 329715.03 crore.
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What is Pradhan Mantri Mudra Yojana?
The Pradhan Mantri Mudra Yojana was started in 2015. The objective of this scheme is to promote employment. Along with this, new entrepreneurs are also to be encouraged. Under this scheme, earlier all applicants used to get a guaranteed loan of up to Rs 10 lakh. The limit of which has now been increased to Rs 20 lakh.
Under this scheme, borrowers can apply for loans under four different categories. These include the Shishu category, Kishore category, Tarun category, and Tarunplus category.
Shishu category – Under this category, applicants can apply for loans up to Rs 50,000. Those people who do not need a large loan can choose this category.
Kishore category – Under this, borrowers can get loans up to Rs 5 lakh.
Tarun category – Under the Tarun category, loans up to Rs 10 lakh are available.
Tarunpulse Category- Under this category, borrowers get a loan of up to Rs 20 lakh.
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How to apply
You can apply for this scheme both online and offline.
Process of applying online
Step 1- First of all you have to go to the website of the bank or financial institution.
Step 2- Download the loan application form from here.
Step 3- After which fill the details asked in the form and submit it.
Step 4- Keep the reference code found in it safely.
Step 5- After a few days you will get a call from the bank officer. After verification, the loan amount will come to your account.
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How to apply offline?
To apply offline, you have to go to such a branch of the bank. Where loan is being offered under this scheme. After this, take the form from the bank officer and fill all the details asked. Along with this, submit the document as well.
After which verification will be done and the loan amount will be credited to your account.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
