new Delhi. The government has come up with a special scheme to make the unemployed people self-sufficient and start their own business during the Corona period. Its name is Mudra Yojana (Pradhan Mantri MUDRA Yojana). In this, a loan of up to 10 lakh rupees is given by the government without guarantee to start a business. It has special provision for women. With this, she can earn better sitting. This will make them self-sufficient. Loans under the scheme will be given in 3 categories. Under this, loans up to Rs 50,000 are provided under Shishu Loan. While Rs 50,000 to 5 lakhs are given under Kishore loan and Rs 5 lakh to 10 lakhs for teen loans. If you also want to take advantage of this plan, then let us know which important things you have to take care of.
Benefits of Mudra Scheme
Under this scheme, loans are provided without any guarantee. Apart from this, there will be no processing charge for the loan. This will help the applicant. Apart from this, there is also a facility to extend the loan repayment period to 5 years in order to allow the applicant enough time to establish the business. A currency card is provided to the beneficiary by the bank on taking the loan. Through which you can spend as per the need.
Special things related to the scheme
1. There are no fixed interest rates under the Pradhan Mantri Mudra Yojana. It depends on different banks. Apart from this, the interest rate is also determined based on the nature of the business and the risk associated with it. The interest rate is usually 12 percent.
2. Under Mudra scheme, women will be able to take loans as they are given priority in the scheme. Apart from this, these loans can also be taken for the expansion of business.
3. On applying for the loan, the applicant will have to show the business plan, project report, future income project documents. So that the government will get information about your business.
To avail the scheme, one can download the loan application form from the scheme’s official website mudra.org.in. There will be three category forms here. Download the form under which category you want to take a loan. Along with this, photocopy of business plan or project report, identity documents such as PAN card, Aadhaar card, voter ID card etc. will have to be installed. If you are going to do business partnership, then get documents related to partnership, tax registration, business license etc. After filling the form, you can submit it to any bank.