The Central and State Governments have a number of initiatives in place to facilitate the lives of the people of our country. ‘Pradhan Mantri Mudra Yojana’ is a loan formulated by the Central Government with an emphasis on small enterprises. In the context of Corona, many have returned to their homelands where they lost their jobs, many of whom are looking to start small businesses. But many do not know where to get the help they need and what they need. Let’s see what is the Pradhan Mantri Mudra Yojana and who can avail the benefits of it.
The Pradhan Mantri Mudra Yojana can be utilized mainly for the development of micro units. The scheme provides loans of up to Rs. 10 lakhs to small enterprises. The loan is mainly divided into 3 categories, namely shishu, kishore and tarun. The shishu category includes loans up to Rs 50,000. Loans ranging from Rs 50,001 to Rs 5 lakh come in the kishore category and loans ranging from Rs 5 lakh to Rs 10 lakh belongs to Tarun category.
How to apply for the Mudra loan?
To submit applications, go to any of the websites like NBFC, Private Banks, MFI and read all the details and then go to the official website of the bank and download the mudra Loan application. After filling this form, submit the required documents such as ID proof, PAN card, Aadhaar card or the driving licenses as ID,address proof along with detailed documents, last 6 months bank balance statement,income tax receipt, other loans details,special category need their documents, emplyment details etc..
You will be contacted by a designated person from the bank. The loan amount will be received if the application is verified and you are eligible for the loan. Using udyammitra website, also you have to apply for a loan. For that visit www.udyammitra. You can visit the website and Applications can be submitted through Commercial, or Private Banks. Along with the identity documents mentioned above, you will also need to submit a detailed project plan about the project you intend to do. The interest you receive for this is determined on bank basis. Mudra loans are definitely something that can be used by those who want to start small business..