Finance Minister N. Sitaraman announced 1500 Crores for Shishu Mudra loan.
Central Finance Minister once again announced financial package for the Migrant labors, Street Vendors, Small scale Farmers and urban poor.
The Finance Minister announced about the Shishu Mudra Scheme, under which the loan borrowers will get 2% off in the interest for the next 12 months. This will result in saving 1500 crores saving, and government will pay the amount.
Who is eligible for Shishu Mudra Sheme loan-
Through this scheme, the government seeks to help the small scale businesses, and this loan is only for small scale businesses.
Through Pradhan Mantri Mudra Yojana (PMMY) the government is giving loan in three steps. The government has divided this into- Shishu loan, Kishor loan and Tarun loan.
This is Shishu Loan Yojna –
Through this scheme, one can get loan to open a shop. And can get loan upto 50,000. He can earn from this.
This is Kishor Loan Yojna-
Through Kishor Loan Yojna one can get loan from Rs. 50,000 till 5 Lakhs.
This is Tarun Loan Yojna-
If someone is willing to start small scale business, he can apply for this financial help.
Through Tarun Loan Yojna the central government will give loan of Rs.5 Lakhs upto 10 Lakhs.
These banks will give the loan-
Through this scheme, one can get loan from any Gramin banks, Government banks, Co-Operative banks and Private banks based on the eligibility criteria.
Conclusion: The Central government has announced various financial schemes for the MSMEs. Shishu Mudra loan is one of them. we have mentioned the available information.
As per the reports, all the government banks, gramin banks, co-operative banks and all private banks can give loans based on the various eligibility.
But one thing that is common is that these loans are provided to those businesses who are MSME registered and hold MSME Certificate. If you do not have the MSME certificate yet, you can contact us. The MSME registration is FREE, NO GOVERNMENT IS THERE. If you want help from us to apply, we charge a nominal professional fee for the same.