In today’s era, women are not only managing the house, but are also making their mark in the business world. The Central Government’s Pradhan Mantri Mudra Yojana (PMMY) is working to give a new flight to this spirit of women. If you also want to start your own small startup, beauty parlor, boutique or any small industry, then this news is of great use to you. Under Mudra Yojana, women can get a loan of up to Rs 10 lakh without any guarantee. Let us know in detail the nuances of this scheme and the method of application.
What is Pradhan Mantri Mudra Yojana (PMMY)?
The main objective of Pradhan Mantri Mudra Yojana is to promote self-employment. The biggest feature of this scheme is that you do not need to pledge any land or gold to take the loan. To make women entrepreneurs, the government has divided it into three categories:
- Shishu Loan: Loan up to Rs 50,000 for new business.
- Kishore Loan: Loan ranging from Rs 50,000 to Rs 5 lakh to expand business.
- Tarun Loan: Loan ranging from Rs 5 lakh to Rs 10 lakh for business expansion.
Women get these special benefits
Women applicants are given priority in Mudra Yojana. Many banks and financial institutions also provide special discounts ranging from 0.25% to 0.50% in interest rates to women entrepreneurs. Moreover, the loan process has been kept extremely simple so that women from both rural and urban areas can avail it.
For what purposes can a loan be obtained?
You can apply for any small business as per your interest, like:
- Tailoring or Boutique Shop
- beauty parlor or salon
- Tiffin service or pickle-papad business
- Handicrafts and Cottage Industries
- Grocery shop or any small manufacturing unit
How to apply?
You can apply for Mudra loan by visiting your nearest government or private bank, rural bank or non-banking financial company (NBFC).
necessary documents
- Aadhar Card and PAN Card
- Address proof
- Business idea or project report
- passport size photo
Nowadays, the facility of online application is also available through Udyami Mitra Portal, where you can check your eligibility and apply for loan sitting at home.
Latest Business News