Business / Take a loan of up to 50 thousand rupees from Shishu Mudra Loan Scheme know what is the scheme

If you are thinking of starting a business of your own and are unable to move forward due to lack of money, then do not worry at all. Under the Aatmanirbhar Bharat Mission, the central government is providing all kinds of help to every type of industry, small, medium and large.

Due to the Corona epidemic, a large number of people had lost their business. To give speed to the wheels of the economy again, the Modi government is helping people financially to encourage them.

Here we are mentioning a similar scheme of the government of Pradhan Mantri Mudra Yojana (PM MUDRA Yojana). To start a small scale business or increase its old work, the government is giving up to Rs 10 lakh under PM Mudra Yojana.

Three types of loans are given under the Pradhan Mantri Mudra Yojana (PMMY). PMMY is divided into Shishu Loan, Kishore Loan and Tarun Loan Scheme.

three types of loans

Under the Pradhan Mantri Mudra Yojana (PMMY), three types of loans are given. PMMY is divided into Shishu Loan, Kishore Loan and Tarun Loan Scheme. Here we are discussing about these three schemes in detail.

shishu mudra loan

Under the Shishu Mudra loan scheme, if you are going to start any work or start-up in a shop or at a very small level, then you can get a loan of up to Rs 50,000 from the bank under the Pradhan Mantri Mudra Yojana. This loan will be available under the Shishu Mudra Yojana.

The best part is that to take a loan under this scheme, you will not have to pay any processing fee of the bank nor will you need any guarantor. Yes, a little study will have to be done about the interest rate, because different banks charge different rates of interest on this scheme.

You will need your identity card, address document, two photographs, and a quotation of the goods or machinery you wish to purchase to start your business. By collecting some such necessary documents, you can apply for Shishu Mudra Loan in the bank.

You can get information about Shishu Mudra loan by visiting your nearest bank branch. Apart from getting information by visiting the online port www.udyamimitra.in, you can also apply for loan online. For more information about the Pradhan Mantri Mudra Yojana, complete detail information is available on the official website mudra.org.in.

Kishor Mudra Yojana

If you need a loan of up to Rs 5 lakh to start your business, then you have to apply under the Kishore Mudra Loan Scheme of PM-Mudra Yojana. You will have to pay interest on the loan received in this scheme. The rate of interest is different for every bank. Therefore, before applying for the loan, do research about it thoroughly.

Under Tarun Mudra loan, one can get loan up to ten lakh rupees for the expansion of business.

Under the Pradhan Mantri Mudra Yojana (PMMY), a loan can be taken from any government bank, rural bank, cooperative bank, private bank or foreign banks. The Reserve Bank of India has authorized 27 government banks, 17 private banks, 31 rural banks, 4 co-operative banks, 36 micro finance institutions and 25 non-banking financial companies (NBFCs) to disburse Mudra loans.