PM Mudra Yojana: If you too want to start a new business and are holding yourself back due to lack of funds, there’s no need to do so anymore. The Government of India’s PM Mudra Yojana will help you fulfill this dream. You don’t need to take a loan from a relative or a moneylender. All you need to do is fill out the PM Mudra Yojana form. Once the form is accepted, the loan amount will be credited directly to your bank account. Let’s find out how much money you’ll receive under the PM Mudra Loan and what are the necessary steps to take.
Who gets Mudra Loan?
Mudra Loans were launched in 2015. The scheme aims to provide loans to small businesses and startups on easy terms, encouraging more people to start their own businesses. Three types of loans are offered under this scheme: Shishu Loans, Kishor Loans, and Tarun Loans. Anyone 18 years of age or older who wants to start a small business can apply for this loan.
How to apply?
To obtain a Mudra loan, you need your Aadhaar card, PAN card, bank account details, and a passport-size photo. If you’re running a business, you’ll need proof of that as well. Sometimes, the bank may also ask for your business plan. To apply for this scheme, first visit the website Udyamimitra.in. Then, select the “Apply for Mudra Loan” option. A form will appear. Fill in your personal details and the loan amount. Then, upload the required documents and submit the form. You can also apply offline.
How to get a quick loan?
If you need a quick loan under the Mudra scheme, be sure to complete your KYC, as you won’t receive a loan without it. RBI regulations require any bank or financial institution to verify the identity of every customer. To avoid any problems with getting a loan, complete the KYC process in advance.
