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Loan limit under Pradhan Mantri Mudra Yojana (PMMY) increased to Rs.20 lakh from the current Rs.10 lakh As announced by the Finance Minister on 23rd July, 2024 in the Union Budget 2024-25, the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from current Rs. 10 lakh to Rs. 20 lakh. This increase aspires to further the overall objective of the Mudra Scheme which is Funding the Unfunded. This enhancement is specifically beneficial to upcoming entrepreneurs fac
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FAQ :
The loan limit under PMMY has been increased to £20 lakh, up from the previous limit of £10 lakh.
The increase was announced by the Finance Minister on 23rd July 2024, as part of the Union Budget 2024-25.
The enhancement aims to further the Mudra Scheme's objective of 'Funding the Unfunded' and support the growth and expansion of upcoming entrepreneurs.
Yes, a new category called 'Tarun Plus' has been introduced for loans above £10 lakh and up to £20 lakh.
Entrepreneurs who have successfully availed and repaid previous loans under the 'Tarun' category are eligible for the 'Tarun Plus' category.
Guarantee coverage for PMMY loans up to £20 lakh will be provided under the Credit Guarantee Fund for Micro Units (CGFMU).
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