Mudra loan now available for dairy industry

Mudra loan now available for dairy industry, fisheries, silk industry and more

The MUDRA loan under Pradhan Mantri Mudra Yojana will now also be available for dairy industry, fisheries, poultry farms, honey bee farming, silk industry etc besides small business from non-farm sectors.

Under this the self-entrepreneurs can avail up to Rs 50,000 under Shishu Loan, from Rs 50,000 to Rs 5 lakh under Kishore Loan and from Rs 5 lakh to Rs 10 lakh under Tarun Loan.

There would be no requirement of No Dues Certificate as the loan will be based on Credit Bureau Report.

There would be no collateral on the loan and the interest will be pain only on the withdrawn money, according to an advertisement by the Department of Financial Services.

It said the loan can be repaid in easy instalments within appropriate time frame.

So far, in the Financial Year 2016-17 as many as 199, 83, 843 PMMY Loans have been sanctioned.

An amount of Rs 75699.86 Crore has been sanctioned in FY 2016-17 and an amount of Rs 73013.73 crore has been disbursed.

Micro Units Development and Refinance Agency Ltd. [MUDRA] is an NBFC supporting development of micro enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs for lending to micro units having loan requirement upto Rs 10 lakh.

Non–Corporate Small Business Segment (NCSB) comprising of millions of proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas are eligible for Mudra Loans. (KNN Bureau)

Source: DAIRY NEWS OF INDIA