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MoF Raised MUDRA Loan Limit under Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 Lakh to Rs 20 Lakh.

Goverment Scheme | Dated: 06 Nov 2024

The Department of Financial Services (DFS) under the Ministry of Finance (MoF) has raised the Mudra loan limit under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh under the new "Tarun Plus" category, effective from October 24, 2024, to encourage entrepreneurship in the country.

🎯 Key Highlights:

  • - Borrowers who have previously availed and successfully repaid loans under the "Tarun" category will now be eligible for funding between Rs 10 lakh and Rs 20 lakh.

💡 Other Important Facts:

  • The Credit Guarantee Fund for Micro Units (CGFMU) will extend guarantee coverage for these enhanced loans, reinforcing the Government of India's (GoI) commitment to fostering a strong entrepreneurial ecosystem in India.

📚 Test Your Knowledge:

What is the new loan limit raised under Pradhan Mantri Mudra Yojana (PMMY) for MUDRA loans?

Correct Answer: 20 Lakh

🚀 Quick Recap:

About Ministry of Finance (MoF)

  • Finance Minister: Nirmala Sitharaman
  • Headquarters: New Delhi