Mudra Yojana Scheme For Women
Launched in 2015 by the Government of India, the Pradhan Mantri Mudra Yojana (PMMY) provides financial support to aspiring entrepreneurs in starting their own business. To promote women entrepreneurship in the country, financial institutions thus extend Mudra loan for women under this scheme.
Some common questions on Mudra loan for ladies -
1. What does the Mudra Yojana scheme for women comprise?
Under the Mudra Yojana for women, aspiring female entrepreneurs can avail funds of up to Rs.10 lakh to start a small or micro-enterprise, provided it is a non-corporate or a non-farm business.
2. What is the aim of this scheme?
The Pradhan Mantri Loan Yojana for women aims to provide the necessary financial support to eligible females who want to start their own businesses. The scheme providing Pradhan Mantri loan for ladies is also meant for budding female business persons wanting to acquire the necessary skills for to make their business operations successful.
3. What are the key features of the scheme?
Key features of the Pradhan Mantri Loan Yojana for ladies include the following–
- Loans available under three different categories – Shishu, Kishore and Tarun.
- No collateral required.
- Availability of Mudra loan for women entrepreneur also extends to business growth and expansion.
- Affordable rates of interest.
- The tenor of Pradhan Mantri Loan for women may extend up to 7 years.
- Pradhan Mantri Ladies Loan Yojana helps finance a business’s working capital requirements as well.
If you’re looking for a high loan amount, you can also avail a Bajaj Finserv Business Loan For Women which offers collateral-free funds up to Rs.30 lakh.
4. How has Pradhan Mantri loan scheme for ladies benefitted the women of India?
The scheme has already benefitted numerous businesses with loans worth Rs.35,002.15 crore sanctioned in FY 2019 and Rs.3,21,722.79 crore sanctioned in FY 2018.
5. How do financial institutions support in Pradhan Mantri Mudra Yojana for ladies implementation?
Aspiring female entrepreneurs from urban and rural regions can avail the Mudra Loan for woman entrepreneur through participating financial institutions by fulfilling the required eligibility criteria.
Additional read : How to apply for mudra loan?