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Pradhan Mantri Maudra Yojana Scheme, Pradhan Mantri Mudra Yojana Benefits, PMMY Schemes, What is Mudra Bank, Pradhan Mantri Mudra Yojana Products & offerings, PMMY Details, How to apply for PMMY
PM Launches Pradhan Mantri Mudra Yojana
Pradhan Mantri Mudra Yojana, which is generally known as PMMY is like other Scheme by our Honourable Prime Minister, Narendra Modi which provide fund to many other companies, institution which need funding to start their own business. PMMY Scheme was launched in April and till now it has benefited 20 Lakh people.
PMMY targets around 50,000 to 10 Lakh small industry based entrepreneurs to whom they will provide loan and further they will provide jobs to around 2 crore people on the whole. According to Hasmukh Adhai, Financial Services Secretary, “Prime Minister Mudra Yojana will exceed 1 Lakh crore for small business segment to provide immense growth and employment to others.
What is Mudra Bank?
The Micro Units Development and Refinance Agency is known as MUDRA. Under Prime Minister Mudra Yojana PMMY will provide loan to all micro industries which needs credit less than 10 Lakh rupees. This sum of money will be provided by all Public Sector Bank, Co operative Banks, Urban Co operative Banks is known as Mudra Loan. Till now, Mudra has around 27 Public Sector Bank, 27 Regional Banks, 25 Micro Finance Banks and 17 Private Sector Banks.
Prime Minister Mudra Yojana Benefits
The Primary Responsibility of Mudra is to provide refinance to all the micro business/ Units/enterprises. Under Prime Minister Mudra Yojana Benefits three phases come, one is Shishu, second is Kishor and third is Tarun.
- Shishu: Covering all loans up to Rupees 50,000.
- Kishor: Covering all Loans from 50,000 to upto 5 Lakh
- Tarun: Covering all Loans above 5 Lakh to upto 10 Lakh
Secondary Benefits of Prime Minister Mudra Yojana
- Promoting and enhancement of small business segments.
- Helps in Improving livelihoods Mission.
- Working with some eminent and rated agencies.
- Setting up National Skill Development Corporations.
- Proving loan on easy basis.
Disbursement of 21,586 crore under MUDRA Yojana
Recently, showing confidence on Mudra Yojana, Mr. DV Sadananda Gowda Union Minister of Law said that “around 21.586 crore has been disbursed till now, affecting and benefiting both to over 33 Lakh people in the nation”. The best thing about MUDRA Yojana is that there is no need of collateral security for upto 10 Lakh rupees Loan.
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