Government is Offering Credit Cards Under These Schemes, Making it Easy to Get Loans Worth Lakhs

Government Schemes: The central government has numerous government schemes. These schemes help businesses. Some schemes also support the government by issuing different types of credit cards. The PM Mudra Scheme and the Kisan Credit Card are similar schemes. Additionally, UPI-linked credit cards will be provided under the PM Svanidhi scheme. This card makes it easy to get government loans.

Mudra cards are also offered under the PM Mudra Scheme, launched by Narendra Modi in 2015. The loan limit under this scheme is set at up to 20 lakh rupees in different categories. Mudra loans are divided into four categories: Shishu, Kishor, Tarun, and Tarun Plus.

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Loans are available in these four categories

The Shishu category offers a loan of 50,000 rupees. The Kishor category offers loans ranging from 50,000 to 5 lakh rupees. Under the Tarun category, loans ranging from ₹5 lakh to ₹10 lakh are available. Under the Tarun Plus category, loans ranging from ₹10 lakh to ₹20 lakh are available.

Kisan Credit Card

Kisan Credit Card (KCC) was introduced for farmers. This is also a type of credit card. With this card, farmers can obtain instant loans for fertilisers, seeds, pesticides, diesel, animal husbandry, and dairy purposes. The KCC limit typically extends up to ₹3 lakh and offers a low interest rate. In many states, a 4% subsidy is available for timely payments. The KCC card functions like an ATM, allowing farmers to access loans instantly without the need to visit a bank.

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PM SVANidhi

In the February budget, the government announced the introduction of UPI-linked RuPay credit cards under this scheme. The limit was set at ₹30,000. The introduction of the UPI-linked RuPay credit card will enable street vendors to access loans to meet any business or personal needs. Under this scheme, the government provides loans ranging from 15,000 to 50,000 rupees.