Now you can get up to 20 lakh loan to start your own business
The Modi government will now provide a loan of Rs 20 lakh without guarantee to start a business under the currency scheme. Earlier, there was a loan of Rs 1 lakh under this. This information was provided by Union Road Transport and Highways Minister Nitin Gadkari, this information is central. This was actually recommended by a committee of experts from the Reserve Bank of the Small, Medium and Medium Enterprises (MSME). The RBI formed an eight-member committee for the financial and financial stability of MSME.
A special note attached to the currency loan:
This committee has submitted its report to the Reserve Bank. The report recommended a loan of Rs 20 lakh for MSME and self help groups, while the committee recommended raising the loan loan limit by Rs 10 lakh to Rs 20 lakh.
What is a currency loan plan?
Launched in 2015, the scheme aims to provide loans to small businesses ranging from small businesses to small businesses with no guarantees. Under this scheme, anyone can get a loan to start their own business.
- The best thing about this scheme is that under it there is no guarantee. In addition, there is no processing charge taken for the loan…
These loans can be obtained by applying to commercial banks (commercial banks), regional rural banks, small finance banks, co-operative banks, microfinance institutions and non-banking financial companies.
How many loans can I get?
So far there are 3 types of loans available under the currency scheme. Under the First Infant Loan, Rs. Up to 50,000 rupees are given. Under the second teenage loan, loans of up to Rs 50,000 to Rs 5 lakh are given. So under the last youth loan, loans ranging from Rs 5 lakh to Rs 10 lakh are given. But now the limit has been increased to Rs 20 lakh.