Pradhan Mantri Mudra Yojana Details In English

   

Mudra loan. If you want to start your new business or you want to increase your old fitness, you can take a Mudra loan in both these situations, but for that first, you have to take care of basic things.

            First of all, you have to know which category of Mudra loan you can apply for a loan. The basic three categories have been created in Mudra Loans.

1. Shishu - Can get loan up to 50000

2. Kishore - 50,000 to 500000 loan can be got

3. Tarun = can get loan from 500000 to 1000000

             So the first thing you need to do is to disguise how you need a loan in Mt. If you want a loan up to three lakhs, then in which category will you apply, or if you want a loan up to 10 lakhs, then you have to understand in which category you will apply.

             Understand that if you want a loan up to 50000 for your business, then you will apply for a loan in the Shishu category. If you need a loan from 50000 to 500000 for your business, then you will apply for a loan in the Kishor category. If you want a loan between 500000 to 1000000 for your business, then you will apply in the Tarun category.

            Prime Minister Narendra Modi launched PM Mudra Yojana or not Micro Units Development and Refinance Agency Bank from New Delhi on 8 April 2015. The scheme is designed to help small traders.

 An Objective

            Under this scheme, small industries will be able to get loans from banks easily.

Under this scheme, entrepreneurs will get loans with very low interest

            Every person who has formed a partnership firm or runs a small manufacturing unit will be able to get a loan under the Pradhan Mantri Mudra Yojana at an affordable rate. Especially small shopkeepers, fruit and vegetable sellers, youth running saloon, mechanic, beauty parlor, transport, professionals, and service providers will be able to get loan easily under Pradhan Mantri Mudra Yojana

            It is believed that Mudra Bank will be able to get loans to 5 decimal 77 crore micro, medium, and small businesses across the country.

           Finance Minister Arun Jaitley announced it in the financial budget of 2015 and had allocated 20 thousand crores for it as well as 3000 crores has been allocated as Credit Guarantee Fund.

 Why there was a need to create a Mudra Bank

           Small industries are not easily supported by the bank. Many industries are unable to meet the conditions of the banks, due to which many small industries are closed due to a lack of money. For this, the Mudra Bank Scheme has been started. Its main goal is to provide financial assistance to small industries and strengthen the educated youth of the country and empower women so that they can start their own business.

         The government believes that big industries provide employment to people, but small industries provide employment to very large masses. If financial assistance is provided to such small industries, then their growth will also create employment opportunities.

How to get Mudra loan

         You can contact your nearest bank to take advantage of the Mudra scheme. Also, your reason for what you want to take a loan should also be clear

What are the benefits of the Mudra scheme?

1.  Unemployment is the main problem in India. There are many youths in India who have skills but are short of money and if they are unemployed, then they can start their business by taking loans through Mudra Bank and can also provide employment to other people. Might be possible

2. Under the Mudra Bank Scheme, such industries which could not run due to lack of capital or could not do their business properly, their capital shortage will be filled so that they can grow their business.

3. Due to this scheme, small traders will be encouraged. A sense of competition will arise in them which will lead to the economic development of the country.

4. By promoting small industries, the country's money will remain in the country and the country will develop.

Required Document for SHISHU Category

1. Proof of identity

2. Proof of Residence

3. Applicant’s Recent Photograph (2 copies)

4. Proof of SC/ST/OBC/Minority, if applicable. 

5. Proof of Address

6. Statement of Account 

Required Document for KISHORE / TARUN Category 

1. Proof of identity

2. Proof of Residence

3. Proof of SC/ST/OBC/Minority, if applicable. 

4. Proof of Identity / Address

5. Statement of Account

7. Sales achieved

8. Proforma Invoices / Quotations

9.Asset & Liability statement of the borrower

9.Photos (two copies) of applicant /

Courtesy:-Gadgets Today