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Mudra Yojana Offers Up To Rs 10 Lakh-Loan: Eligibility, Mudra Cards, Credit Limit

13 September, 2018 3:13 PM
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Mudra Yojana Offers Up To Rs 10 Lakh-Loan: Eligibility, Mudra Cards, Credit Limit

Pradhan Mantri MUDRA Yojana (PMMY) offers loans up to Rs 10 lakh to non-corporate, non-farm small/ micro enterprises. These loans are given by commercial banks, regional rural banks, small finance banks, cooperative banks, micro finance institutions and non-banking finance companies. Loans worth Rs 82,440.87 crore have so far been sanctioned in financial year 2018-19, according to the last update on PMMY's website (as on September 7, 2018). MUDRA has created three products to signify the stage of growth and funding needs of the beneficiary micro unit.

The Kishor scheme under Pradhan Mantri MUDRA Yojana covers loans above Rs 50,000 and up to Rs 5 lakh.

The Tarun scheme under MUDRA Yojana covers loans above Rs 5 lakh and up to Rs 10 lakh.

MUDRA card is a RuPay card that can be operated across the country for withdrawal of cash from any ATM / micro ATM and also make payment through any 'Point of Sale' machines. PoS devices allow you to pay via cards.

Also read: BRICS Bank Approves $525 Million Loan For Infra Projects In Madhya Pradesh

Source: ndtv.com

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