My name is Amit and I welcome you to my channel, Amit B Choudhury. This is an Educational Informative Channel and Deals with Banking Topics and Government Schemes.
Today we bring to you another Topic in the Know Everything Series. The topic is Prime Minister Mudra Yojana in Hindi and is by far the Best Government Loan for Entrepreneur.
Know Everything about Prime Minister Mudra Yojana in Hindi – Best Government Loan for Entrepreneur
Prime Minister Mudra Yojana (PMMY) is a flagship scheme of Government of India to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them. It enables a small borrower to borrow from all Public Sector Banks such as PSU Banks, Regional Rural Banks and Cooperative Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions (MFI) and Non Banking Finance Companies (NBFC) for loans upto Rs 10 lakhs for non-farm income generating activities. The scheme was launched on 8th April, 2015 by the Hon’ble Prime Minister.
Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than Rs 10 lakh can approach either a Bank, MFI, or NBFC for availing of Micro Units Development & Refinance Agency Ltd. (MUDRA) loans under Prime Minister Mudra Yojana (PMMY).
Under the aegis of Prime Minister MUDRA Yojana, MUDRA has already created the following products/ schemes.
– Shishu : covering loans upto 50,000/-
– Kishor : covering loans above 50,000/- and upto 5 lakh
– Tarun : covering loans above 5 lakh and upto 10 lakh
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