The government is running all the schemes to help the needy and economically weaker people. Especially for such people who want to start a small business of their own, but are not able to start it due to money constraints, then you can start work by taking loans under a plan of Modi Govt. We are talking about PM Svanidhi Yojna, which is a micro-credit scheme. In this, the government gives a loan of 80000 rupees in three times and the special thing is that this business loan is found without any guarantee. Let’s know in detail about its entire process …
Loan of 80 thousand is found in three installments
When the country was struggling with the corona pandemic and there was a crisis on the employment of the people, at such a time the Narendra Modi government had launched the PM Swanidhi Yojana to resume their livelihood by giving financial assistance to the street vendors. In this, the government gives a loan of Rs 80,000 to the needy in three installments. In this, 10, 20 and 50 thousand rupees are given for the introduction of small business in three phases. But to take full advantage of this government scheme, it is necessary to create credibility.
How to take the full advantage of Svanidhi Yojna?
As mentioned that to take full advantage of the PM Swanidhi Yojana, the beneficiary will have to make his credible. Suppose someone wants to start his business and has applied for this in this government scheme. Then according to the rule, first the government will get a loan of Rs 10,000 and then he can get a loan of Rs 20,000 under the scheme if it repaid this amount in the scheduled time and after repaying it, the lump sum will be considered eligible to get a loan of Rs 50,000. Through this amount, he can pursue his started small business.
No guarantee, only Aadhaar needs
This is a loan without guarantee, meaning you do not have to mortgage anything of anything in lieu of it, only the money received by the government has to be returned in the scheduled time. If you look at the rules related to this scheme, then the amount of loan of PM Svanidhi Yojna is taken, it has to be repaid in a period of one year. The amount of loan taken can be repaid in a period of one year and it also provides EMI payment facility. That is, this amount can be returned in easy installments every month. To take advantage of this, only Aadhaar Card is required.
Subsidy on loan interest
The number of people taking loans under the PM Swanidhi Yojana of the Modi government has steadily increased and it is very easy to take. Actually, the applicant applies to any nearest government bank for self -representation loan. After the application, it is investigated by the urban local body (ULB) and your eligibility and the information given are confirmed. After verification, the ULB issues recommendation letters to the concerned financial institution or bank and the bank also gives approval for the loan while reviewing the application at its level. After this, the loan amount is transferred to your bank account. Here another benefit is found in this scheme, yes there is also a provision for subsidy at the rate of 7% annually on the interest of the loan taken in it.