The Government of India has launched the Mudra Loan Scheme 2.0. This scheme helps small and micro businesses by providing easy loans. These businesses are in the non-farm and non-corporate sectors.
Under Mudra Loan Scheme 2.0, small enterprises can get a loan of up to INR 10 lakh. This money will help them grow their businesses without the stress of money issues. It’s a great chance for many to start or expand their work.
To get the benefits of this scheme, all applicants must first check if they qualify. If you meet the eligibility criteria, go to the official website. There, you can fill out the application form online. This is the first step to get your loan and improve your business.
Revised Mudra Loan Scheme 2.0
During the announcement of the Union Budget for 2024-25, the Finance Minister of India shared some exciting news about the Mudra Loan Scheme 2.0. This is an improved version of the Mudra scheme that helps small businesses get loans easily. The best part is that the loan amount has been increased by 10 lakh, making the total loan amount now an amazing INR 20 lakh!
If you are selected for this scheme, you can get a total of INR 20 lakh from the Indian Government. This increase in the loan amount is super helpful for small and micro enterprises in India. More money means more chances for these businesses to grow and succeed!
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Mudra Loan Scheme Objective
The main aim of the Mudra loan scheme is to help small and micro-business owners. This way, they can grow their business. When small and micro businesses grow, it creates many new jobs for people who don’t have work. According to reports, the Government of India gave out a huge amount of money, around 5.4 lakh crore, as loans under the Mudra Loan Scheme.
This scheme is great because it encourages Indian citizens to start their own small businesses. If you have an idea and need money, the Mudra loan might be the answer!
There are three types of loans under this scheme that are specially made for small and micro enterprises. Each type helps in different ways, so you can choose what fits your needs best.
Eligibility Criteria
- To avail of the loan under the Mudra Loan Scheme the applicant must be-
- Small manufacturing enterprise
- Shopkeepers
- Fruit and Vegetable vendors
- Artisans
- Truck operators
- Food service units
- Repair shop
Type of Mudra Loans
- The Shishu category provides loans of up to INR 50,000.
- The Kishor category provides loans from INR 50,000 to INR 5 lakh.
- The Tarun category provides loans from INR 5 lakh to INR 10 lakh.
Required Documents
- Aadhar Card
- Ration card
- Mobile Number
- Electricity bill
- Address Proof
- PAN Card
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Benefits of the Mudra Loan Scheme
- With the help of the Mudra Loan Scheme, small and micro enterprises can expand or start their business.
- It will also create employment opportunities for other unemployed citizens.
- Now small and micro enterprises are eligible to receive loans of up to INR 20 lakh.
- The financial assistance under the scheme will be transferred directly to the selected applicants’ bank accounts.
Mudra Loan Scheme 2.0 Apply Online 2024
STEP 1: All the applicants who clear the eligibility criteria must visit the official website and fill out the application form to avail of the benefits of the Mudra Loan Scheme 2.0.
STEP 2: Once the applicant reaches the homepage of the official website the applicant must click on the option Udaymimitra portal.
STEP 3: A new page with appear on your desktop screen the applicant must click on the option apply now.
STEP 4: On the new page the applicant must enter their name, email, and mobile number and click on the option generate OTP.
STEP 5: Now the applicant must enter the OTP that they have received on the registered mobile number and click on the option submit.
STEP 6: The registration form will appear on your desktop screen the applicant must enter all the details that are asked and attach all the necessary documents.
STEP 7: After entering all the details the applicant must quickly review it and click on the option submit complete their process.
Mudra Loan Scheme Offline Application Procedure
STEP 1: All the applicants who want to apply for the scheme offline can visit the nearest Commercial Banks, RRBs, Small Finance Banks, MFIs, and NBFCs.
STEP 2: The application form to apply for the scheme is available online on the official. the applicants can just go to the official website and click on any loan category.
STEP 3: The applicants can click on the option Shishu, Kishor, and Tarun to download the application form easily.
STEP 4: After downloading the application form the applicant must fill out all the details and attach any necessary documents including address proof and identity proof.
STEP 5: After filling out the application form the applicant must quickly review it and submit the application form to the concerned official.
Contact Details
- help[at]mudra[dot]org[dot]in
FAQs
What is the main objective of launching the Mudra Loan Scheme 2.0?
The main objective of launching Mudra Loan Scheme 2.0 is to help small and micro-business enterprises in India.
What is the maximum amount of loan to be given under the Mudra Loan Scheme 2.0?
The maximum amount of loan to be given under the scheme is INR 20 lakh.
Who is eligible to avail the benefits of the Mudra Loan Scheme 2.0?
All the small and micro business owners in India are eligible to available the benefits of the Mudra Loan Scheme 2.0