We all know about the Prime Minister Yojana’s Pradhan Mantri Mudra Yojana. It was an institution that was being set up by the Government of India. It was set in the India for the development and refining activities that are relating to the micro units. The current finance minister announced it.
The purpose of this Yojana is to provide funding and loans to the small business sectors.
Around 1 Lakh Crore rupees have been sanctioned for the small business sectors and non-corporate business sector. It was launched on 8 April in 2015 by Prime Minister Narendra Modi.
The Pradhan Mantri Mudra Yojana is categorized in three interventions.
1. Shishu Yojana: – Under this Yojana, the government would give a loan of 50,000 Rs.
2. Kishore Yojana: – This is the second Yojana. Under this, the entrepreneur could be ranging loan from 50,000 to 5 Lakh.
3. Tarun Yojana: – Government gives loan above 5 Lakhs and below to 10 Lakhs.
So basically this Yojana is classified into three categories. The loans amount will be distributed by Micro Units Development and Refinance Agency Bank. Narendra Modi said that their government wanted youth to be job creators and not job seekers.
According to an online portal Moneycontrol.com, around 1,65,000 people avail this over drafting facility. Under this Yojana, Rs 50,000 crore loans were given to small entrepreneurs for their business.
According to the reports 80,000 borrowers have benefited from the scheme under this Pradhan Mantri Mudra Yojana. More than 50,000 loans were given to the SC, ST, OBCs and women entrepreneurs who are engaged in small business.
We will tell you the procedure to take loans.
So this Yojana helped too many peoples in the country for the welfare and growth of India. It was distributed around 14 Crores person for small business many of these small business owners.
