PM Mudra Yojana: The central and state governments are implementing numerous schemes. Through these schemes, the government is empowering economically weaker individuals. For those wishing to start a business, the government offers business loans. The government has implemented a dedicated scheme for business loans.
The government has launched the PM Mudra Yojana for business loans. Under this scheme, the government offers loans up to ₹10 lakh. However, after the revision, the loan amount has been increased to ₹20 lakh. The special feature of this scheme is that it also offers loans for commercial vehicles.
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Which vehicles are available for loans?
The government benefits those who wish to purchase a vehicle related to their business under this scheme. Under the PM Mudra Yojana, the government provides loans to individuals to purchase commercial vehicles such as tractors, auto rickshaws, taxis, trolleys, cargo vehicles, three-wheelers, e-rickshaws, and other vehicles.
These individuals also receive loans
In addition, the government provides business loans for farmers and animal husbandry, businessmen, and shopkeepers. It also provides loans for service centres. A special feature of the scheme is that beneficiaries who receive a Mudra loan are provided with a Mudra card.
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Learn how much loan is available
Under this scheme, loans are available without any guarantee. The repayment period can be extended up to five years. Loans are provided under the PM Mudra Yojana in three categories. Under this scheme, the government provides loans ranging from 50,000 to 10 lakh rupees.