Government Offering Many Benefits on Taking Loans under PM Mudra Yojana and PM SVANidhi Yojana; Details Inside

Due to Covid-19 pandemic, a large number of people have lost their jobs and are facing financial crisis. In view of this, the government is once again motivating the youth for self-employment. To help the economically weaker sections during the lockdown, the government has also started the PM Svanidhi scheme. Through this, the government is going to provide loans of up to Rs. 10000. At the same time, under the PM Mudra yojana, loan is being provided by the government in different categories. 

Recently, the government has also made some big announcements related to this scheme, which will benefit millions of debt holders. The entire world is currently facing a crisis because of the Corona pandemic. India too had faced many problems due to this. Covid-19 had directly affected country's economy. In such a situation, the government is taking many steps to speed up the economy and provide employment to the people.  

PM Mudra Yojana: 

With the aim to provide employment in the country and motivate the youth towards self-employment, the Central Government has launched the Dwar Mudra Yojana, under its scheme; loans are provided in different categories. Loan up to Rs 10 lakh can be taken in various categories. The best thing is that no guarantee is required on loans up to Rs. 50000. Recently, the Center has decided to give a subsidy of 2 per cent in interest charged by banks on loans up to Rs. 50000. It will be for one year. This will benefit 9.37 crore, debt holders. 

Mudra loans are given in three categories. The first is called ‘Shishu Loan’. It provides loans up to Rs 50,000. The second category is of 'Kishore loan', in which loans ranging from Rs. 50,000 to Rs. 5 lakhs are given. Under the third category known as 'Tarun loan', loans from Rs. 5 lakh to 10 lakh is provided.  

To apply for PM Mudra loan click - https://www.mudra.org.in/

PM SVANidhi Yojana

The PM SVANidhi scheme started on 1 July 2020. Under this scheme, the government provides loans up to Rs 10,000 to the street vendors. The vendor can repay this loan as a monthly instalment in 1 year. The government will also provide a subsidy of 7 per cent in annual interest to the beneficiaries who repay the loan instalments on time or before time. The scheme will remain in force till 31 March 2022. 

To apply click 

 PM SVANidhi (mohua.gov.in)