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Pradhan Mantri Mudra Yojana: If you want to start your business this festive season but are short on cash, this may be useful news for you. In fact, in the last 9 years, the Modi government has launched many schemes for various sections. One of these is Pradhan Mantri Mudra Yojana (PMMY). Under this scheme, the government provides loans of up to Rs 10 lakh to people with affordable interest rates on minimum documents to start their own business. Tell us in detail….
What are the details of the scheme
Let us tell you that with the aim of promoting entrepreneurship among the new generation of youth, the government prioritizes loans in the infant category. After this, juvenile and youth category loans are given. Talking about the interest rate, it is decided by the lending institutions as per the guidelines of RBI. Mudra card is also available under the scheme. It is like a debit card. To apply under this scheme, one should have documents like passport size photo, ID, address proof. For detailed information, you can apply by visiting https://www.mudra.org.in/offerings.
Also Read- 15th installment of PM Kisan will be coming on this day! 2000 rupees will be sent to your account, check the details
Loans up to 10 lakhs
Under the Modi government’s PMMY scheme, you can easily get loans up to Rs 10 lakh from banks, non-banking financial companies (NBFCs), small financial institutions (MFIs). You can take this loan in three categories. These categories are – Infant, Juvenile and Adolescent. Let us tell you that the loan amount is different in these three categories. If you take a loan under the Shishu category, you will get a loan of up to Rs 50,000. Under Juvenile Category Rs. 50,000 and above Rs. A loan of less than 5 lakhs will be available. Whereas, in the youth category, you get Rs. 5 lakhs and above Rs. Loans up to 10 lakhs are easily available.