MUDRA loan in Pune

MUDRA loan in Pune

As we all know that the MUDRA loan will now be helping many individuals across the country to be their own brand. So many young people from all over the country had applied for this loan but recently in Pune 54,000 applications were received. So for this reason a lot of money had to be provided to the state recently. As per the statistics given by the district administration about 995 crore rupees were allocated for the applicants.

So how can it help people in Pune?

Pune is a fast developing region. Many of the bright minds of the country are now in Pune. Hence, there is a lot of bubbling enthusiasm and business minds in this state. It is no doubt that 54000 people have applied for loan from this region.

According to the government, these micro unit sectors form the basic infrastructure of the country. Hence, if micro units are encouraged, India can become a gigantic economy within a very short frame of time. Hence, to promote this practice, the government will refinance these micro units. This way more and more entrepreneurs will be able to start up their own ideas and together make India progress into a developed country.

How will these people benefit?

According to the state officials, the rural areas in and around Pune responded very positively to this initiative. Since these people are new to their businesses the government will reach out and educate them to the ways through which they can expand their business. This is the same for Pune and the district officials will soon plan a visit to have an explanatory chat with the individuals who have shown interest for the loan.

There are three wings of MUDRA loan – Tarun, Kishore and Shishu. All of these three types of loan has been given attention to by the Pune residents. The best way to ensure that people make successful ventures is to educate them on using these resources for their benefit.

The rate of interest is a major factor for considering this scheme. It is only 9.75% payable in 7 years.

Who can avail this loan?

Since the loan is to be made available to one and all, the loan guidelines are pretty simple.

  • To avail this loan, you will have to be a citizen of India and you must be involved with activities generating income such as trading, manufacturing, processing or service providing.
  • If you need a resource less than Rs. 10 lakh, you can avail it for the same. The highest amount is Rs. 10 lakh, but it starts from Rs. 50,000.
  • For this purpose, the individuals can approach the Micro Financing Institutions, banks or financing institutions or even NBFCs.

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