India is a developing country where people from every section have different needs. Realizing these needs, the Government of India brings many schemes from time to time, so that the economic condition of the people can be strengthened and they can become self-sufficient. Especially for small businessmen, street vendors and traditional artisans, the government is running schemes under which they get loans without any guarantee. Today we will tell you in detail about three such government schemes under which a loan of up to lakhs of rupees can be taken without any bail.
Why is a loan without guarantee?
There are crores of people in the country who either want to start their new business or want to increase the business already running. But to fulfill these dreams, the biggest need is the capital. Generally, banks and financial institutions demand guarantee or any property before giving loans. In such a situation, it becomes difficult for those who do not have any guarantee.
Realizing this problem, the government has introduced some schemes, which can also get loans without guarantee. Let’s know about three such major schemes-
1. Pradhan Mantri Mudra Yojana (PMMY)
Pradhan Mantri Mantri Mudra Yojana is a major scheme of the Government of India, which is being run with the aim of providing financial assistance to small entrepreneurs. Under this scheme, a person is given a loan without any guarantee so that they can start their small business or pursue the business already running.
What is the specialty of the scheme?
Without guarantee loan: There is no need to give any guarantee to take a loan under this scheme.
Three categories:
Baby Loan: Up to Rs 50,000. This is for those who want to start their new work.
Kishore Loan: Rs 50,000 to Rs 5 lakh. This is for the entrepreneurs whose business is in the initial stage.
Tarun Lone: 5 lakh to 10 lakh rupees. It is given to businesses that are at the stage of expansion.
Tarun Plus: This additional facility is provided to those who have repaid the first loan and now they want to take a loan of up to 20 lakhs.
Application process:
Application for this scheme udyamimitra.in Can be done on. You have to upload your business information, identity card, bank details and other necessary documents. After approval, the loan is directly transferred to your bank account.
Data so far:
According to government data, so far more than Rs 33 lakh crore without guarantee loan has been distributed under the Pradhan Mantri Mudra Yojana. This provided employment to millions of people and has encouraged entrepreneurship in the country.
2. Pradhan Mantri Swanidhi Yojana (PM Svanidhi)
In the year 2020, when the lockdown was installed in the country due to the corona epidemic, then the most affected roadside shops i.e. street vendors. The Central Government launched the Pradhan Mantri Swanidhi Yojana to help these people.
Planning characteristics:
Loan without guarantee: Loans are also given without guarantee under this scheme.
Loan in three stages:
First loan: up to Rs 10,000.
Second loan on timely payment: up to Rs 20,000.
Third loan: up to Rs 50,000.
Subsidy on interest: If the beneficiary pays the loan on time, the government also gives it subsidy on interest.
Promotion of digital payment: Under this scheme, beneficiaries are also encouraged for digital transactions.
Who can take advantage?
This scheme can be taken advantage of roadside handers, vegetable sellers, tea wale, fruit, cobbler, washer, street vendors etc. The aim of the government is to make them self -reliant and provide financial assistance for self -employment.
3. Pradhan Mantri Vishwakarma Yojana (PM Vishwakarma Yojana)
India’s traditional workmanship has been the identity of the country for centuries. The government launched the Pradhan Mantri Vishwakarma Yojana in the year 2023 to make artisans like carpentry, blacksmiths, goldsmiths, enhances, potters financially.
Main things of the plan:
Special Plan for Traditional Artisans: This scheme is for those who are associated with traditional crafts or handicrafts.
Loan without guarantee:
Low interest rate: Interest rate on these loans is also very low, which benefits artisans.
Training and toolkit: The government training these artisans and also provides toolkit so that they can become more efficient in their work.
Digital Identity Card: Under the scheme, the beneficiaries are also given “Vishwakarma Identity Card”.
How to change the lives of millions of people from these schemes?
The impact of government schemes is clearly visible at the ground level. Millions of people started small business by receiving loans under these schemes, and now they have become self -sufficient. Some people are creating new means of employment in their villages, while some have now become the owner of the shop in urban areas and now from the street.
conclusion
These three schemes of the government – Pradhan Mantri Mudra Yojana, Swanidhi Yojana and Vishwakarma Yojana, are for the class of the country which are often excluded from mainstream financeing. These schemes not only provide them financial help, but also lead their lives towards self -sufficiency.
If you also want to start a business or want to expand your existing work, and you have nothing to guarantee, these plans can prove to be a lifeline for you. All you have to do is understand the correct information and application process.
Apply and be a part of self -sufficient India!
For more information and application udyamimitra.inPMSVANIDHI.MOHUA.Gov.in and msme.gov.in You can see like government websites.
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