Mudra Loan Yojana
Mudra Loan Yojana: Mantri Pradhan Mudra Loan Yojana was introduced by the Prime Minister of our nation Shri Narendra Modi. If any citizen wishes to launch his small enterprise, the PM Mudra Loan Yojana offers loans totalling ₹ 1000000 to the nation’s residents. By applying under the Mudra Yojana, you may easily acquire a loan of up to ₹ 1000000 if you have money or wish to develop your business. We will explain the application procedure for this plan and the necessary paperwork in this article. You are asked to read this article through to the end to obtain all the information relating to the plan, including what it is, how to qualify for it, its advantages, and other details.
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Contents
Let us tell you that the Central Government created a budget of Rs 3 lakh crore for Mudra loans, of which Rs 1.75 lakh crore have been disbursed thus far. There won’t be any processing fees for borrowers who wish to take up a loan under the Mudra Yojana 2024. The loan payback time has been extended by five years under this arrangement. Under the Prime Minister Mudra Loan Scheme, each citizen of the nation receives a Mudra card, enabling them to apply for a Mudra loan.
Financial year | PMMY loans sanctioned (in million) | Amount sanctioned (in Rs crore) | Amount disbursed (in Rs crore) |
2021-22 | 53.7 | 3,39,110 | 3,31,402 |
2020-21 | 50.7 | 3,21,759 | 3,11,754 |
2019-20 | 62.2 | 3,37,495 | 3,29,715 |
2018-19 | 59.8 | 3,21,723 | 3,11,811 |
2017-18 | 48.1 | 2,53,677 | 2,46,437 |
Name of the Scheme | Prime Minister Mudra Loan Scheme |
Started by | By Prime Minister Narendra Modi |
Beneficiary | people of the country |
Objective | provide loan |
Official Website | https://www.mudra.org.in/ |
This scheme’s primary goal is to help the numerous humans within the country who wish to release their agencies but are not able to do so due to a loss of investment. the crucial authorities launched the Pradhan Mantri Mudra loan scheme in particular for these people. beneficiaries may additionally use a mudra mortgage to launch their very own small business before 2024. moreover, this plan makes it very simple to lend cash to others. thru the Pradhan Mantri mudra loan scheme 2024, the state’s citizens will have their desires fulfilled and could benefit from self-reliance and empowerment.
Under this arrangement, three different kinds of loans are available.
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Read the details provided below if you’re interested in learning how to apply for a Mudra Loan as well. You must apply to receive a Mudra Loan. Please adhere to the online application procedure that we have outlined below.
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Q: How to take advantage of Pradhan Mantri Mudra Yojana?
Ans: Loan amounts under the Mudra Loan Scheme range from ₹50,000 to ₹100,000. Under Shishu cover, loans up to Rs 50,000 are offered. Loans up to ₹500000 are provided under Kishore cover and loans up to ₹1000000 are provided under Tarun cover.
Q: What is Pradhan Mantri Mudra Yojana? Tell us about it.
Ans: Pradhan Mantri Mudra Yojana (pmmy) is a scheme of the important authorities. its goal is to offer mortgage facilities up to rs 10 lakh to non-corporate and non-agricultural small/micro companies. PM Modi commenced it on April eight, 2015. in keeping with government statistics, within seven years because then, loans worth Rs 18.60 lakh crore had been disbursed beneath the scheme.
Q: How much Mudra loan can I get?
Ans: The maximum loan amount under the Mudra Loan Scheme is Rs. 10 lakh. The loan amount can be repaid over five years. The applicant does not have to deposit any security with the banks or credit institutions to apply for a Mudra loan.
Q: Which banks are offering Mudra Loan?
Ans: Loans under the Mudra Loan Scheme are offered by HDFC Bank, Axis Bank, Bank of Baroda, Indian Bank, State Bank of India, and Punjab National Bank.
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