PMMY- Now eligible people can take a loan of this much lakh from Mudra Loan, know full details
Yesterday, the first budget of the third term of the Modi government has been presented, which was presented in Parliament by Finance Minister Nirmala Sitharaman. Many things have been taken care of in this budget, if we talk about the Mudra loan, then its limits have been increased, and many small businessmen and entrepreneurs are going to benefit from this increase. However, along with the increased loan limit, some conditions have also been introduced. Today we will provide you with detailed information about this scheme through this article-
Increased loan limit:
Finance Minister Nirmala Sitharaman has announced to increase in the limit of Mudra loans from Rs 10 lakh to Rs 20 lakh.
Eligibility conditions:
To qualify for this increased loan limit, borrowers must have previously taken a Mudra loan and repaid it in full. This condition ensures that the new benefits reach responsible borrowers.
Mudra loan categories:
Mudra loans are classified into three segments:
Shishu: Loans up to Rs 50,000.
Kishor: Loans from Rs 50,000 to Rs 5 lakh.
Tarun: Loans from Rs 5 lakh to Rs 10 lakh (earlier, the highest limit).
Impact and reach: Under the Pradhan Mantri Mudra Yojana (PMMY), loans worth Rs 27.75 lakh crore have been disbursed to over 47 crore small and large businesses.
Notably, 69% of the total 44.46 crore loans sanctioned have been given to women entrepreneurs.
Support to disadvantaged groups:
Launched on April 8, 2015, the Mudra scheme, along with the SUPI scheme launched in 2016, aims to promote entrepreneurship, especially among marginalised communities such as women and SC/ST individuals.
These schemes support the establishment of new businesses and promote the economic upliftment of women.
Promoting Entrepreneurship:
The Mudra scheme and the SUPI scheme are designed to promote small and micro enterprises by providing the necessary financial resources. These programs play a vital role in empowering individuals from disadvantaged backgrounds to pursue business opportunities.
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