Shishu Mudra Loan Scheme: Union Finance Minister Nirmala Sitharaman gave detailed information about the 20 lakh crore rupees’ economic package announced by Prime Minister Narendra Modi once again in a press conference today. A day earlier, the finance minister announced an allocation of Rs 6 lakh crore. The package was announced about the MSME sector. Today is the second day when she has held a press conference regarding the economic package. 

Today, she has also made announcements for migrant laborers, street vendors (street vendors), small farmers, and the urban poor. Along with this, Sitharaman has made a big announcement for Mudra Shishu Loan (Shishu Mudra Scheme). Those taking the Mudra Scheme loan will get a two percent discount in interest. This discount will be for the next 12 months. The effect of this will be that 1500 crores will be saved from the borrowers. While the government will pay this money.

Finance Minister Nirmala Sitharaman has announced today that the government will provide assistance of Rs 1,500 crore for Mudra Shishu Loan. This help will reduce the interest rate for one year. About three crore people are going to get its benefits. Nirmala Sitharaman said that so far the loan of 1.62 crore rupees has been distributed.

Who Are Eligible Shishu Mudra loan Scheme?

Through this scheme, the central government’s aim is to help those doing business at a small level. Therefore, only small traders can get loans under this scheme. This scheme will not help for big businesses. Under the Mudra Yojana (PMMY), the government is giving loans in three phases. The Central Government has divided it into Shishu Loan, Kishore Loan, and Tarun Loan Scheme.

Shishu Mudra Loan

Yojna. Under the Shishu Loan Yojana, a person can take a loan of up to Rs 50,000 to open a shop, etc. With this, he can make his employment. The exemption that the government has just given has been given under this.

Kishor Loan

Yojna. Under Kishore Loan Yojna, Rs. 50,000 to 5 lakhs can be taken.

Tarun Loan Yojna (Tarun Loan Yojna)

If an industry wants to start at a small level, then it can take financial assistance under Tarun Loan Scheme. Under the Tarun Loan Scheme, the central government will provide loans ranging from 5 lakh to 10 lakh rupees.

These banks offer loans

In this scheme, you can take loans from any rural bank, government bank, cooperative bank, a private bank.