There is big news for the businessmen who have taken loans under PM Mudra Yojana (PMMY). The government has announced the last date for interest subvention for people taking loans up to Rs 50,000.
According to the information given on the website of PM Mudra, the government has extended the last date for the beneficiaries of the 2 percent interest subvention scheme to 15 December. PMMY portal will be closed for Interest Subvention Scheme (ISS) claims from 31st December 2021. Loan borrowers will also not be able to claim for the 2 percent interest subvention scheme after December 15.
What is Pradhan Mantri Mudra Yojana (PMMY)
Pradhan Mantri Mudra Yojana (PMMY) was launched by PM Modi on 8 April 2015. This scheme was launched by the PM to provide loans up to 10 lakhs for non-corporate, non-form small and micro enterprises. Under this, loans are classified into several forms. PMMY is a national mission aimed at providing loans to generate self-employment and to encourage small entrepreneurs to generate employment. Under this, there are three schemes namely Shishu, Kishor and Tarun.
Loans can be taken under these three schemes
- Shishu Loan- Under this, a loan of up to Rs 50,000 is given.
- Kishor Loan- Loans ranging from 50 thousand to 5 lakh rupees are given under Kishore Loan.
- Tarun Loan- Loans ranging from Rs 5 lakh to Rs 10 lakh are covered under Tarun.
How to get loan?
For loan under Mudra Yojana (PMMY), you have to apply in a government or bank branch. If you want to start your own business, then you will have to provide many other important documents including house ownership paper or rental documents, work related information, Aadhar, PAN number. After this, the branch manager of the bank will take information about the work from you and on that basis you will be given PMMY loan. For this you can also apply online on the portal.
Crores of people take loans every year
According to the PMMY website, 2,63,33685 people have been given a loan of Rs 153395.49 crore under the Mudra scheme in the same financial year 2021-2022. At the same time, if we talk about the last financial year 2020-2021, then a loan of 321759.25 crore was done to 5,07,35046 people. Interested persons can get more information about PMMY by visiting the website (http://www.mudra.org.in/).
