Good News! Center is giving a Loan of 50,000 without Guarantee, Know How to Apply

To provide relief to the common people amid this worsening economic condition due to the Corona crisis, Modi government has decided to give a loan of Rs 50,000 to the common people who are fighting against financial scarcity. Moreover, needy people don’t need to show any guarantee to avail this central scheme. So far 100 million people have taken advantage of this central government scheme, says the official.  

Every industry along with every individual is having a very tough time amid the crisis which is growing day by day. Keeping in mind the current crisis, the Modi government has started this scheme to give relief to the needy. If you also want to start a business of your own and you are having difficulty in getting a loan from the bank, then you can take advantage of this central government scheme. 

How to Avail this Central Govt Scheme? 

Under this scheme, loans can be taken mainly for the opening of shops, starting tracks or any other small business or work. This loan is being given by commercial banks to small finance banks, MFIs and NBFCs. In this scheme, the loan is given without any guarantee. Moreover, any person can go to these institutions and take information about the loan, as well as apply for it. Not only this, you can also apply for this loan by visiting https://www.udyamimitra.in/ online portal. 

2% Interest on Mudra Shishu Yojana 

The Modi government is also giving a discount of up to 2 per cent in interest rates on loans under its Shishu Mudra Yojana. Under this scheme, customer charged interest of 9 to 12 per cent. Out of which the government is giving a rebate of up to 2 per cent. However, you have to pay interest at the rate of 7 per cent. Under the Mudra scheme, people taking loans will get this interest rebate from 1 June 2020 to 31 May 2021. 

It is worth noting that under the Mudra scheme, the bank gives loan without guarantee and more than that there is no processing charge. The borrower gets a Mudra card which they can use in their business whatever is needed.