Must check these 5 reasons to apply for Pradhan mantri Mudra yojana

Pradhan mantri Mudra yojana PMMY

Introduction of PMMY

You may be also thinking to apply for Pradhan mantri Mudra yojana ? Right After this corona pandemic situation every one requires proper funds. and who is other than govt itself is best option to ask for loan? When Indian PM Narendra modi told first time in his speech to the nation, he told about Aatmnirbhar Bharat.

In this aatmnirbhar bharat there are two major Words come in mind which does co relate to each other such as MSME and PMMY. As we know the MSME is about to gives loans from a very large amount to the locals citizens of India.

Pradhan mantri Mudra yojana
Pradhan mantri Mudra yojana

Smt Shri Nirmala Sitaraman (Finance Minister of India) also gave detailed information via its conference. But our concerned topic is Pradhan mantri Mudra yojana so lets get started with this loaning scheme from indian govt.

What is Pradhanmantri Mudra yojana?

The so called PMMY (Pradhan Mantri MUDRA Yojana) is a govt facilitated fund raising scheme which was inaugurated by Indian Prime Minister.

It was launched in 2015 on 8th of April month, It aims toward providing financial assistance from 50000 rs and up to 10 lakh INR to our local non-corporate, non-farm small/micro enterprises or we can say small scale businesses.

Who takes the application for PMMY and gives approval ?

Such fundings and loaning are classified under MUDRA loans under govt scheme Pradhanmantri Mudra Yojna. By the way one has to apply via Commercial Banks such as RRBs, Small Finance Banks, MFIs and NBFCs.

The applicants or borrower can approach any of the leading financial institutions mentioned earlier or can also apply by visiting online website www.udyamimitra.in which is a govt portal for PMMY.

There are three type of things in Mudra yojana?

  • Shishu
  • Kishore
  • Tarun

When you apply for This schemes you comes under Shishu Level and it is the first stage and after certain development you comes in Kishore Awashta in Mudra Yojana Scheme and after the last installment your business is matured enough to earn and grow and then you can start paying back to the govt. All there stages are reference point towards further stage.

Note : Always trust RBI’s official updates and also do check interest rate before applying for Mudra loans. Read more about other loans and credit cards information in out finance category.

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