Pradhan Mantri Mudra Yojana: Pradhan Mantri Mudra Yojana has completed 10 years today. This scheme of the central government was started on this day, 8 April 2015. After becoming the Prime Minister of the country for the first time in the year 2014, Narendra Modi started this scheme the very next year. This is one of the biggest schemes of PM Modi. The main objective of this scheme is to arrange money for those people who are unable to start their business due to lack of money. The collateral free and easily available Mudra Yojana loan laid the foundation of a new era of entrepreneurship at the grassroots level. Under the Mudra Yojana, crores of people of the country started their own business by taking loans from the government, which changed both their fortunes and lives.

500 brooms are made daily in Bindu's unit

Prime Minister Narendra Modi today interacted with the beneficiaries of the Mudra Yojana, where many stories were heard. Bindu, a beneficiary of the scheme, told that she started her work by making 50 brooms daily. She is now leading a unit that makes 500 brooms daily. Pradhan Mantri Mudra Yojana has supported non-corporate, non-agricultural, micro and small enterprises by giving them institutional loans, which are the backbone of India's economy. From stitching units and tea shops to salons, mechanic shops and mobile repairing businesses, crores of micro-entrepreneurs have confidently stepped into this corporate world.

More than 52 crore loans sanctioned worth Rs 32.61 lakh crore

Since its launch in April 2015, Pradhan Mantri Mudra Yojana has sanctioned more than 52 crore loans worth Rs 32.61 lakh crore. The growth in business through the scheme is no longer limited to big cities, but it is spreading to small towns and villages. It is due to Pradhan Mantri Mudra Yojana that now the people of the village are starting business while living with their families instead of working in the cities and are also giving employment to others.

MSME loan can cross 30 lakh crore by 2025

According to a report by SBI, MSME loan increased from ₹ 8.51 lakh crore in FY 2014 to ₹ 27.25 lakh crore in FY 2024. Not only this, it is estimated to cross ₹ 30 lakh crore in FY 2025. The share of MSME loans in total loans of banks increased from 15.8 percent in FY 2014 to about 20 percent in FY 2024, which shows its growing role in the Indian economy.

4 types of loans are given under Pradhan Mantri Mudra Yojana

4 types of loans are given under Pradhan Mantri Mudra Yojana. Loans up to Rs 50 thousand are given under Shishu category, loans from Rs 50,000 to Rs 5 lakh are given under Kishor category, loans from Rs 5 lakh to Rs 10 lakh are given under Tarun category and loans from Rs 10 lakh to Rs 20 lakh are given under Tarun Plus category. Under Tarun Plus, loans are given only to those entrepreneurs who have availed the previous loan under Tarun category and have repaid the entire loan.

Banks' NPA under tremendous control

The best thing with the Pradhan Mantri Mudra Yojana is that most of the entrepreneurs who took loans from banks repaid the loan on time. Finance Department Secretary M. Nagaraju said that under this scheme, the gross NPA of government banks is 3.6% till December 2024. This simply means that the people taking loans are returning the loan money on time.

How to apply for Mudra loan

You can apply for Pradhan Mantri Mudra Loan both online and offline. To apply offline, you have to go to your bank branch and fill all the necessary details in the application form. You have to attach all the necessary documents with the form. After which the bank officials will check your application and documents. After the investigation is completed, the loan will be approved and then the loan amount will be transferred to your bank account in some time.

To apply online, you have to visit the bank's website and download the Mudra Yojana form. After filling all the details in the form, you have to upload the form and also attach all the documents. After completion of the application process, you will get a reference ID. After which the bank officials will contact you and the rest of the process will also be completed. After completion of the process and verification of all the documents, the loan amount will be transferred to your bank account.