PM Mudra Yojana: Golden opportunity to start your own business, government is giving loan up to 10 lakhs without security

PM Mudra Yojana : Pradhan Mantri Mudra Yojana is a central government scheme. In this loan up to 10 lakhs is given. The objective of this scheme is to create employment along with self-employment. Special discounts are also given to encourage women entrepreneurs under Mudra Yojana.

free loan

The Central Government has started Pradhan Mantri Mudra Yojana (PMMY) to increase self-employment in the country. Small industries are encouraged by giving loans through this scheme. This scheme was started in April 2015. In PMMY, MUDRA stands for Micro Units Development and Refinance Agency. The objective of this scheme is to generate employment along with self-employment.

Three types of loans are given under PM Mudra Yojana, which are Shishu, Kishor and Tarun. In Shishu the applicant can apply for a loan up to Rs.50,000. In Kishor, a loan of 50,001 to 5,00,000 is given to the applicant. At the same time, loans ranging from 5,00,001 to 10,00,000 are given to the person applying under Tarun Yojana. The maximum loan tenure given in PM Mudra Yojana is 5 years.

pm mudra loan

Benefits of taking Mudra loan
The biggest advantage of taking a loan under PM Mudra Yojana is that you do not have to deposit any security to take a loan from a bank or any other individual institution. On this the government guarantees your loan. The processing fee on this is also very less. Also, on taking loans under this scheme, women, scheduled castes, scheduled tribes and people belonging to minority groups are given concession in the interest rate.

For what things loan is given in Mudra Yojana
Loan in Mudra scheme is given to carry forward business activities or to start a new business. This includes the applicant commercial vehicle - tractor, auto rickshaw, taxi trolley, e-rickshaw; Services - Gym, Salon, Sewing shop, Medical shop, Dry cleaning, Photocopying; Food products- pickles, papads, ice cream, biscuits, sweets; Loans are also given under this scheme for agricultural equipment, poultry, fish farming, bee keeping and animal husbandry etc.

Instant loan

Women get big benefits
Under the Pradhan Mantri Mudra Yojana, the government also encourages women entrepreneurs. The terms and conditions of the scheme for women entrepreneurs are the same as for other people. The biggest advantage in this is that loans are given to women at low interest rates.





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