Center doubled the limit in PM Mudra Yojana, now loan up to twenty lakh
New Delhi| The Central Government has given a big gift to the countrymen before Diwali. The government doubled the loan limit given under the Pradhan Mantri Mudra Yojana. Now one can take a loan up to Rs 20 lakh to do business in this scheme. Earlier this limit was 1 million. In the General Budget 2024-25, it was announced by Union Finance Minister Nirmala Sitharaman to increase the limit of loans given under PM Mudra Yojana from Rs 10 lakh to Rs 20 lakh.
According to the information given by the government, a new category ‘Tarun Plus’ has now been added to this scheme, in which small traders can apply for loans up to Rs 20 lakh. Earlier there were three categories in this scheme, in which loan up to Rs 50,000 is given under Shishu, up to Rs 5 lakh in Kishore and Rs 10 lakh in Tarun.
Through this step, the government’s effort is to promote small traders, so that they can easily take loans for business. This will create new employment opportunities and people will also get the opportunity to open their businesses and help in strengthening the country’s economy.
People who want to start a business or want to expand their small business. Pradhan Mantri Mudra Yojana is a good option for those people. The special thing about Mudra Loan is that the interest rates on it are very low and you do not need any guarantor for the loan, because the government is the guarantor here. You can apply for PM Mudra Loan through any of your nearby bank branches or online medium.
