Small Business Loan Scheme: Under this government scheme, self-employment is being promoted by providing unsecured loans to individuals. Women and small businesses are benefiting the most.

Doing business is easy, know how

PMMY Loan: Today, many young people are choosing to start their own businesses instead of working. However, due to a lack of information and financial constraints, many are unable to start their own businesses. The Pradhan Mantri Mudra Yojana (PMMY) helps them with this problem. Under this scheme, small shopkeepers and businessmen are provided financial assistance for their business.

The government has stated that in the last 11 years, a total of 577.9 million people have been given loans, amounting to a total of ₹40.07 lakh crore. This scheme has made the dream of owning a business come true for many people. Let's learn more about it...

It is easy to start a business.

The Pradhan Mantri Mudra Yojana (PMMY) has emerged as an easy option for starting or expanding a small business. Under this scheme, loans up to ₹20 lakh can be obtained without any guarantee for non-agricultural and non-governmental purposes.

The loan is divided into four parts based on need: Shishu Loan (up to 50,000), Kishor Loan (50,000 to 5 lakh), Tarun Loan (5 lakh to 10 lakh), and Tarun Plus (10 lakh to 20 lakh). This money can be used for small businesses like shops, dairy, or poultry. You can also take advantage of this scheme to start your own business.

Support for first-time entrepreneurs

The Pradhan Mantri Mudra Yojana (PMMY) has made the path easier for those considering starting their own business. According to statistics, approximately 121.5 million loans have been provided to first-time entrepreneurs, totaling approximately ₹12 lakh crore. Union Minister of State Pankaj Chaudhary says this initiative helps small businesses avoid relying on moneylenders, thus preventing them from falling into a debt trap.

Women remained self-reliant

Women are benefiting the most from this scheme. Statistics show that women constitute 67 percent of the total number of loan borrowers. 387.1 million loans have been disbursed to women. Furthermore, 51 percent of loans have been given to the OBC category.