look news india
PM Mudra Yojana Loan Limit: Central government has announced Diwali gift for MSMEs. The loan limit under Pradhan Mantri Mudra Yojana has been increased to Rs 10 lakh. It has been made for Rs 20 lakh. This decision will give a boost to MSMEs and employment opportunities will also increase.
Small traders will benefit
According to the Finance Ministry, these measures will provide opportunities to MSMEs to establish and expand business. This will create new employment opportunities and strengthen the country's economy.
Who can avail this benefit?
People who want to start their new business can take advantage of this scheme. Apart from this, MSMEs can also avail the benefits of Mudra Yojana to expand their business. Under this scheme, loans are made available quickly and easily at low interest rates. In which no guarantor is required.
Under the youth category of Pradhan Mantri Mudra Yojana, MSMEs will get Rs. Will be able to take loan up to Rs 20 lakh. Under Credit Guarantee Fund for Micro Units Rs. The loan of Rs.20 lakh is provided by the Central Government itself as guarantee coverage.
What is Pradhan Mantri Mudra Yojana?
Prime Minister Narendra Modi on 8 April 2015 gave Rs. It was to launch Pradhan Mantri Mudra Yojana with the aim of providing collateral free micro loans up to Rs 10 lakh. In which selected banks, NBFCs and micro finance units distribute loans in three categories – infants (Rs 50000), adolescents (Rs 50000 to 5 lakh) and youth (Rs 10 lakh) without guarantee-collateral. Youth category limit increased to Rs. It has been made for Rs 20 lakh.
