MUDRA Scheme develops Million People

 The full form of MUDRA is Micro Units Development and Refinance Agency. It is also an innovative scheme that is launched by the Prime Minister Narendra Modi to develop prospective business man, small business man, Shopkeepers, traders and vendors to increase the living standard of common man. 

It is launched on 8 April 2015. It sanctions 14.96 lakh crore loan to 28 crore beneficiaries till 26 March 2021.

It is an innovative scheme that provides up to 10 lakh to individuals, micro, small and medium enterprises to perform their function like Production, supplying, trading, selling and distributing by an effective efficient and economical way to earn maximum profit and make India self Reliant country. 

All loans are securities free loans. It is provided by all commercial banks regional rural banks, small finance bank, micro finance institution and non financial companies in India. The period of repayments of loan is 12 to 60 months. 

Featured

There are many featured of MUDRA scheme possess. These features are as below-

1. It's interest rate is low. 

2. It requires no securities paper. 

3. It has no any processing charge. 

4. It provides special concessional reate to SC St people. 

5. It provides a special care to women who want to start a new business. 

Objective

There are many objectives of MUDRA schemes. These objectives are as below-

1. To provide finance - It is the first objectives of scheme. There are many thousands people who has deep desire, idea, thought and program to start business but due to scarcity of finance they do not start business. This scheme provides an opportunity to start business and serve people. 

2.Self employment- Self employment is the best employment because it gives an opportunity to use our knowledge, talent, skill, wisdom and strength to become billionaire but this concept is not popular in developing countries like India, Pakistan, Bangladesh etc whereas it is very popular in develop countries like U. S. A. U. K. France etc. This scheme gives an opportunity to become self employed and become billionaire. 

3. Expend business- Many business man want to expand their business according to new trend of market and customers but due to scarcity of finance they do not do it. This scheme provides them an opportunity to do it and earn maximum profit. 

Category-

There are three categories in Which MUDRA loan is given. These categories are as below-

1.SHISHU- it is the first category of MUDRA loan. It is given to Starts up and prospect tive business man. Under this category 50000 Rs. sanction to start new business. 

2. KISHORE- It is the second category of MUDRA scheme. Under this Category 50001 to 500000 loan is sanctioned. It is given to purchase equipments, raw materials. It is given the person who is performing the function of business like production, selling, trading or servicing and they want to expand their business. 

3. TARUN- It is the third category of scheme. It is given to established business man. The amount of loan is 500001 to 1000000. It is given the small, middle enterprises that has been performing their function for 3 years and they want to expand their business. 

Achievement- 

There are many achievements of MUDRA scheme. These achievements are as below-

1. It supports more than 50000 Starts Up to start business. 

2. It supports more than 5 lakh women to use their skill in business and it's concern activities. 

3.  It supports more than 50 lakh entrepreneurs to test their idea, thought and innovation for the development of people and nation. 

4. It creates more than 5 crore employment opportunities. 

5. It helps informal sector to become formal and take all benefits that are given to government for the development of business. 

6. It helps to make Self Reliance India. 

7. It creates entrepreneurship environment in India. 

So we can say that MUDRA Scheme transform the life of prospective business man, entrepreneur, small businesses man and provide them an opportunity to make India a develop country.