Benefits and Advantages of MUDRA Yojana Loan
The MUDRA (Micro Units Development and Refinance Agency) scheme was launched by the Government of India under Pradhan Mantri Mudra Yojana (PMMY). With the help of MUDRA loan, medium, micro and small enterprises can afford amounts of up to Rs. 10 Lakhs and fund their business. Specifically meant for non-agricultural enterprises, the loan is offered in three schemes: Shishu loan, Tarun loan, Kishore Loan. Shishu Loan is offered up to Rs. 50,000, while Kishore and Tarun loan offer Rs. 5 Lakhs and Rs. 10 Lakhs respectively. MUDRA Yojana loan is basically nothing but a working capital loan, which can be used by the businesses for their regular and day-to-day operations. These include purchasing raw materials, inventory, managing the cash-flow, paying overdue bills and rent and expansion of business in general. Today, various financial institutions offer MUDRA loans at attractive interest rates.The MUDRA Yojana loan has a lot of benefits. Let us take a look at them. Greater Loan amounts: A