Published on: September 20, 2021
By : Khadi and Village Industries Commission
Why : Facilitate potters to get easy loans
- It is a no-subsidy program.
- Bank loans will be provided under Pradhan Mantri Shishu Mudra Yojana.
- No financial burden on the exchequer.
- Beneficiaries can repay the loans in easy installments.
MAHITI FOR PRELIMS
- Statutory body
- Statute: Khadi and Village Industries Commission Act, 1956
- Functions under the Ministry of Micro, Small and Medium Enterprises.
Pradhan Mantri Mudra Yojana
- It was launched by the government in 2015 for providing loans up to Rs. 10 lakh to the non-corporate, non-farm small/micro-enterprises. Loans under this scheme are collateral-free loans.
- Under this, three products have been created, i.e. ‘Shishu’, ‘Kishore’ and ‘Tarun’ as per the stage of growth and funding needs of the beneficiary micro unit.
- Shishu: Covering loans up to Rs. 50,000.
- Kishore: Covering loans above Rs. 50,000 and up to Rs. 5 lakh.
- Tarun: Covering loans above Rs. 5 lakh and up to Rs. 10 lakh.