Mudra Loan Scheme: The government gives money in this scheme for doing business, you should know

The Central Government also provides assistance to people for doing business. Today we are going to give you information about a scheme of the Central Government, through which people are given loans to do business. Today we are going to give you information about the Mudra Loan Scheme.

There is a provision to give three types of loans under the Prime Minister Mudra Loan Scheme launched by PM Modi in the year 2015. In this scheme, a Shishu loan is given up to Rs 50000, a Kishore loan is given from Rs 50000 to Rs 5 lakh and a Tarun loan is given from Rs 5 lakh to Rs 10 lakh. To take a Mudra loan, it is necessary for the applicant to open a bank account.

The applicant gets a loan from this bank. The special thing about this scheme is that there is no increase in the interest rate on the loan. For this reason, it is very beneficial for people. You can also increase the loan repayment period.

PC: stock.adobe