Central and Gujarat Governments release various beneficial schemes for the citizens. Today we are going to get information about one of the loan schemes in 2024 here. The name of this scheme is Pradhan Mantri (PM) Mudra Loan Yojana.
Citizens of our country who are running their own businesses want to start their own new businesses or if an individual wants to open their own new business then the government provides loans up to Rs 20,00,000 under PM Mudra Yojana.
PM Mudra Loan Scheme Highlight
| Scheme Of Name | Scheme Year |
| Sheme Year | 2015 |
| Who Can Give | Government Of India |
| Beneficiary | Eligible person |
| Helpline Number | 1800 180 1111 / 1800 11 0001 |
| Official Website | https://mudra.org.in/ |
Purpose Of PM Mudra Loan Scheme
The main objective of the Pradhan Mantri Mudra Loan Yojana is to provide easy access to loans to the citizens of the country who want to start their new business, industry, or business as Micro, Small, and Medium Enterprises (MSME) and contribute significantly to the economy of the country.
Under this scheme, the beneficiary gets the facility to get a loan through the authorized banks of the country. A person who wants to start a new business, expand an existing business, hire a new employee, buy new machinery, or buy commercial equipment can benefit from this scheme.
Mudra Loan Yojana
Pradhan Mantri Mudra Loan Scheme was launched by the Prime Minister of our country Narendra Modi on 08 April 2015. Three types of loans are provided in this scheme. A first shishu loan of up to Rs 50,000. Then another Kishore loan in which loans up to Rs 5,00,000 are given.
The third largest loan is a youth loan in which loans up to Rs 20,00,000 are given. Thus till last year loans up to 10,00,000 were given but this year recently Finance Minister Nirmala Sitharaman announced that now loans up to 20,00,000 rupees will be available under this scheme.
Who Can Get This Loan?
Under the Pradhan Mantri Mudra Loan Scheme, the government provides loans up to Rs 10,00,000 for businesses. In which three types of loans are given as seen above. In the recently presented budget, Nirmala Sitharaman announced that loans of up to 20,00,000 will be given henceforth. This loan will be given only to those who have paid the previous loan on time.
A non-Indian does not get benefits under this scheme. Apart from this, a person who has been declared a defaulter by the bank is also not considered eligible. Let us tell you that the person applying for the Pradhan Mantri Mudra Loan should be over 18 years old. If you want to take a loan for any corporate sector then you will not be given this loan.
Documents Required For Mudra Loan
- Aadhaar Card
- PAN card of the applicant
- Address document
- Passport size photos
- Proof of address of place of business
- Evidence of business license
- Quotation of all purchases including machinery and equipment
- Income Tax Return Documents
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How To Apply For Mudra Loan?
To take a loan under this scheme, first, you have to go to its official website. whose address is mudra.org.in. After going up this page a page will open where it says Shishu Loan, Kishore Loan, and Tarun Loan. You can select the loan of your choice and fill the application form by clicking on it.
| Official Website | Click Here |
Source: https://www.mudra.org.in/
