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How and how much loan you can avail under PM Mudra Loan Yojana, read about the entire scheme

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new Delhi: Prime Minister Modi launched the mudra scheme to provide financial assistance to small entrepreneurs. MUDRA means Micro-Units Development & Refinance Agency. Under this scheme, loans are easily provided to micro units in which the organization, company or startup can do anything. The government gives loans under this scheme under three products named ‘Shishu’, ‘Kishore’ and ‘Tarun’. Loans up to 10 lakh are easily available under this scheme. Under the Pradhan Mantri Mudra Yojana (pm mudra loan yojna), if you also want to apply for loan, then know all about it and its conditions before applying.

Who can apply- The Mudra loan scheme aims to provide easy loans to the non-corporate small business segment. If you want to take Shishu mudra loan, then there is only one page form for this. There is a 3 page application form for Kishore and Tarun Mudra Loans. You can know more about Mudra Yojana here

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Now the question comes who can Only Indians can get loans under this scheme (pradhanmantri mudra loan yojana). Apart from this the proprietorship firm, Partnership firm, small manufacturing unit, service sector unit, shopkeeper fruit-vegetable vendor, truck / car driver, hotel owner, repair shop, machine operator, small industry food processing unit, other industries in rural and urban areas apply for loan Can.

How much time does it take- It takes 7-10 days to get a loan under the Mudra scheme.

Eligibility for Mudra Loans- Apart from being a citizen of India, there are some qualifications like-

    • Applicant is taking loan for non-agricultural business.
    • The monthly income of the applicant should be more than Rs 17,000 and the corobar should be at least 15 lakhs.
    • Money should be taken for business needs.
    • The borrower should be in business for at least 5 years and his / her residence certificate should be 1 year old. In the event of non-fulfillment of the condition of residence proof, the applicant must have had a relationship with the bank for at least one year.

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