PM Mudra Loan | Pradhan Mantri Mudra Loan Yojana 2023, Apply, Benefit?

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PM Mudra Loan: During the covid-19 epidemic, many people lost their jobs in the country, after which the determination to start their own businesses was seen in the people. However, if there is an idea, there is a desire to work, but there is no capital to start the work, then many ideas die at the first stage. But if you want to start a business and you need capital, then you can consider taking a business loan. The central government runs a similar scheme before the Kovid epidemic, in which loans are given to those who want to start a business.

PM Mudra Loan Scheme 2022: Overview

Name of the schemePM Mudra Loan Yojana
The beneficiary of the schemeStreet vendors
Scheme benefitCollateral-free loan of Rs 10000/-
Duration of the loanOne year
SVANidhi Scheme announced byPM Narendra Modi
Budget allocated5000 crore
PM SVANidhi Yojana’s objectiveProvide affordable loan
Number of beneficiary benefit50 lakh
Application commences fromAugust

How to apply for the PM SVANidhi Yojana 2022?

Those street vendors who wanted to apply for the scheme need to follow the procedure that we have given below

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  • To apply for the Seva Nidhi scheme you need to visit the web portal of the scheme which is now available by the government and a mobile app for the same is also available now on the google play store.
  • On the home page of the portal, you may find the PM SVANidhi Yojana link to the application to apply for a loan.
  • After this, you need to submit your mobile number and need to request for OTP after receiving the same submit it in the space provided.
  • Now follow the process accordingly.
  • After filling out the form submit the application form.
  • Once you submit the form your PM SVANidhi application will be verified and if everything will be fine then you will be reverted back and the loan will be granted to you.

Click here to apply online for PM SvaNidhi Loan

PM SVANidhi Yojana Important points

Below we have given some important points of the PM SVANidhi Yojana

  • All street vendors can apply for a loan up to Rs 10000/-
  • The loan will be collateral-free means no guarantee will be required from the beneficiary.
  • It is the first time in Indian History that the street vendor now becomes a beneficiary.
  • Those who pay their loan on time or early to their due date will get an interest subsidy whose rate will be 7%.
  • PM SVANidhi Yojana’s benefit will be credited directly into their account on a six-month basis.
  • For effective transparency and delivery of the scheme, a digital platform along with the web portal and a mobile app will be launched for the scheme.
  • For monthly incentives, they will encourage vendors to do digital payments.
  • Only such street vendors can apply for the scheme who are vending on or before the last date.
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