Pradhan Mantri Mudra Yojana (PMMY)
The central government has launched the Pradhan Mantri Mudra Yojana (PMMY) to start small enterprises.
This scheme started in April 2015. What is the purpose of Mudra Yojana (PMMY)? First, easy lending for self-employment. Second, creating employment through small enterprises. If you are also facing the problem of capital to start your business, then you can make your dream come true with the PMMY of the Central Government. The government's thinking is that people will be motivated for self-employment on a large scale if they get easy loans. This will also create employment opportunities in large numbers. small enterprises had to finish tons of formalities for taking loans from the bank. A loan was also required to be guaranteed. Because of this, many people wanted to start an enterprise, but were reluctant to take loans from the bank. Focus on women The full name of Pradhan Mantri Mudra Yojana (PMMY) is Micro Units Development Refinance Agency. The special thing about the Mudra Yojana (PMMY) is that three out of four people who take loans under it are women. According to the website made for PMMY, loans worth Rs 228144 crore have been sanctioned under the Mudra Yojana till 23 March 2018. The government has disbursed loans of Rs 220596 crore under the Mudra scheme till 23 March this year. Also read: 3 lakh crores received in the budget to distribute Mudra Yojana loans What are the benefits of Pradhan Mantri Mudra Yojana (PMMY)? Apart from this, no processing charge is also charged for the loan. In the Mudra Yojana (PMMY), the loan repayment period can be extended up to 5 years. The borrower gets a Mudra card, with the help of which can be spent on business needs. Also read: How you can also take advantage of PM Awas Yojana (PMAY) Who can avail loans under Mudra Yojana (PMMY)? Any person who wants to start his business can take a loan under PMMY. If you want to expand the current business and need money for that, then you can apply for a loan of up to 10 lakh rupees under the Pradhan Mantri Mudra Yojana (PMMY). Three types of loans in Mudra (PMMY) Shishu Loans: Loans up to Rs 50,000 are given under Shishu Loans. Kishore Loans: Loans ranging from 50,000 to 5 lakh rupees are given under Kishore loan. Tarun Loans: Loans ranging from 5 lakh to 10 lakh rupees are given under Tarun loan. Also read: With the help of Mudra scheme, the number of SMEs in the country has increased so much What is the interest rates on Mudra Loans (PMMY)? There are no fixed interest rates under the Pradhan Mantri Mudra Yojana (PMMY). Different banks may charge different interest rates for Mudra loans. The rate of interest also depends on the nature of the business of the borrower and the risk involved. The minimum interest rate is usually 12%. How can you take a PMMY loan? For the loan under Mudra Yojana (PMMY), you have to apply to the government or bank branch. If you want to start your own business, then you will have to provide the ownership or rental documents, work related information, Aadhaar, PAN number and many other documents. Also read: How is the report card of the Central Government's Mudra Scheme? The branch manager of the bank takes information about the work from you. On that basis, PMMY approves the loan. Depending on the nature of the work, the bank manager may ask you to make a project report.
◆Important Links:
●Official websites: click hare
●Application form for Kishor and Tarun: Form Gujarati
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