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Pradhan Mantri Mudra Yojana | Loan of Rs 10 Lakh

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In India, unemployment is a bigger problem. Indian govt is worried about the unemployed data of the country and they launched a scheme of Pradhan Mantri Mudra Yojana. It is a central govt scheme to help the youth of India who do not have any job. The center govt will provide loan benefits to the unemployed people to start their businesses. The maximum amount of loan given in the Pradhan Mantri Mudra Yojana is Rs 10 Lacs. The needy person can easily start a shop or small business with this amount. 

The Indian Govt wants every person to be independent and live a good life. The person who has a dream to start their company or industry now can apply for the Pradhan Mantri Mudra Yojana and get the amount of Rs 10 Lacs as a loan and return the amount of loan after the mentioned time. This is the heartiest financial assistance given by the Center govt to the unemployed people.

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The Pradhan Mantri Mudra Yojana will initiate more business in India, it will increase entrepreneurship. The loan amount will vary from Rs 50000 to Rs 10 Lacs. Get read the page for complete details of Pradhan Mantri Mudra Yojana.

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Pradhan Mantri Mudra Yojana: Complete Details 

The Pradhan Mantri Mudra Yojana covers three categories of loans. The person can apply for any kind of loan. Details are given below.

1. Shishu Loan: Up to Rs 50,000 (Startup)

The loan category of Shishu Loan has a maximum amount of Rs 50000 of loan. Any kind of small industry can be set up by the person through the amount of Rs 50000. Like a person can start his grocery shop, candle-making industry, Donna Plate-making industry, Jot Baati-making industry, etc. These are small kind of industries that needs to buy a machine and you can start producing small products with a minimum amount. 

2. Kishore Loan: Up to Rs 5,00,000 (Entrepreneur)

The Kishore Loan is the second in the Pradhan Mantri Mudra Yojana. The loan amount of the Kishore Loan is increased up to Rs 5 Lacs. A person whose dream is big and who wants to open the big industry can apply for the Kishore Loan in Pradhan Mantri Mudra Yojana. If the industry you want to set up requires big machinery such as a big showroom, an industry with more workers, etc you can apply for up to RS 5 Lac of the loan under the Kishore Loan Scheme.

3. Tarun Loan: Up to Rs 10,00,000 (Businessman)

The third category is the Tarun Loan under the Pradhan Mantri Mudra Yojana. The person can get the maximum amount of Rs 10 Lac under the Tarun Loan and can open the big industry.

Pradhan Mantri Mudra Yojana: Eligibility

The person who wants to apply for the loan can apply for any of the schemes under Pradhan Mantri Mudra Yojana as per the requirement of the loan amount. 

  1. The person should be Indian.
  2. The age of the person should be above 18 years.
  3. The person who desires to get a loan under Pradhan Mantri Mudra Yojana should not be defaulted by any bank for the loan in the past.
  4. The person must have the proper knowledge of the business or industry for which he/she wants the loan amount.
  5. The main purpose of the Pradhan Mantri Mudra Yojana is to increase entrepreneurship among the persons and it will increase the employment opportunities therefore. 

Pradhan Mantri Mudra Yojana: Documents Needed

  • The person should have an Aadhar card, voter card, PAN Card, Ration card, and Caste certificate. 
  • The person is required to have two passport-size photos.
  • If you want to purchase a machine or equipment for the industry, attach the quotation given by the showroom or company.
  • You can also provide the name of the supplier, Description of machinery, Price label/Bil of machinery, etc.
  • You needed the MSME Certificate for a Business loan

How to Apply For Pradhan Mantri Mudra Yojana 

The application process of the Pradhan Mantri Mudra Yojana can be seen in two ways. The first method is to go to the nearest bank and ask about the Pradhan Mantri Mudra Yojana. Visit the bank in which you have your bank account. There you will get the details of Shishu, Tarun, and other Loan types of Pradhan Mantri Mudra Yojana. The bank officials will give you the details of the required documents for the Loan. You have to fill out the form for the Pradhan Mantri Mudra Yojana and submit it to the bank with documents.

The aspirants can apply for the Pradhan Mantri Mudra Yojana online, from the main website of Pradhan Mantri Mudra Yojana. The govt of India has a specific web portal to accept applications for loans online. And even some banks also offer applicants to apply online for loans. You can check the websites of banks like SBI for the Mudra Loan.

Get the Link Here:

https://www.mudra.org.in/

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