The Central Government has given a big gift to the countrymen before Diwali. The government on Friday doubled the loan limit given under the Pradhan Mantri Mudra Yojana. Now under this scheme you can take a loan up to Rs 20 lakh for doing business. Earlier this limit was Rs 10 lakh.
PM Mudra Yojana
In the General Budget 2024-25, Union Finance Minister Nirmala Sitharaman had announced to increase the limit of loan given under PM Mudra Yojana from Rs 10 lakh to Rs 20 lakh.
According to the information given by the government, now a new category Tarun Plus has been added to this scheme, in which small traders can apply for loans up to Rs 20 lakh.
Earlier, there were three categories in this scheme, in which loan up to Rs 50,000 is given under Shishu, up to Rs 5 lakh under Kishore and Rs 10 lakh under Tarun.
Through this step, the government is trying to promote small traders so that they can easily take loans for business. This will create new employment opportunities and people will also get the opportunity to open their own businesses and will help in strengthening the economy of the country.
People who want to start a business or want to expand their small business. Pradhan Mantri Mudra Yojana is a good option for those people. The special thing about Mudra loan is that the interest rates on it are very low and you do not need any guarantor for the loan, because the government is the guarantor here.
You can apply for PM Mudra Loan through any of your nearest bank branches or online.