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    HomeNewsBusinessFM proposes to enhance mudra loans to Rs 20 lakh from Rs 10 lakh in budget 2024

    FM proposes to enhance mudra loans to Rs 20 lakh from Rs 10 lakh in budget 2024

    Mudra or Micro Units Development & Refinance Agency, is a channel for government credit scheme meant for entrepreneurs under which loans are given.

    Manish M. Suvarna
    July 23, 2024 / 11:56 IST
    Budget

    Finance Minister Nirmala Sitharaman in union budget 2024 proposed to enhance mudra loans to Rs 20 lakh, from Rs 10 lakh earlier.

    “Limit of Mudra loans to extend to Rs 20 lakh from Rs 10 lakh for those who have availed and paid previous loans,” Finance Minister said during budget speech.

    Mudra or Micro Units Development & Refinance Agency, is a channel for government credit scheme meant for entrepreneurs under which loans are given. Under this, so far there are three categories—Shishu (loans up to Rs 50,000), Kishore (loans for Rs 50000 to Rs 5 lakh) and Tarun (Rs 5-10 lakh).

    (This is a developing story, please check back for more details)

    Manish M. Suvarna
    Manish M. Suvarna is Senior Correspondent at Moneycontrol. He writes on the Indian money markets, RBI, Banks and NBFCs. He tweets at @manishsuvarna15. Contact: Manish.Suvarna@nw18.com
    first published: Jul 23, 2024 11:40 am

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