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Important Schemes in India Launched by Ministry of Finance

There are around 125 financing, funding, and assistance programs offered by the different ministries and departments of the Government of India.

Of these, the Ministry of Finance, Ministry of Micro, Small and Medium Enterprises, and Ministry of Textiles offers several types of business loans that directly benefit small firms.

PMMY or the Pradhan Mantri MUDRA Yojana, offered by the Ministry of Finance, is one of them. The scheme established the NBFC Micro Units Development and Refinance Agency (MUDRA), which provides three types of loans - Tarun (between Rs.5 lakh and Rs.10 Lakh), Kishor (between Rs.50,000 lakh and Rs.5 lakh), and Shishu (up to Rs.50,000).

The Stand-Up India scheme is another financing program under the Ministry of Finance. It offers business loans to women and Scheduled Cate/Scheduled Tribe (SC/ST) individuals. The scheme targets those setting up a greenfield business in sectors like services or trading.

The Ministry of Micro, Small and Medium Enterprises or Mudra Scheme offers the Coir Udyami Yojana, a credit-linked subsidy scheme offering loans to small businesses and funding for one cycle of working capital.

The ministry also offers CGTMSE or the Credit Guarantee Fund Trust for Micro and Small Enterprises, which provides credit facilities of up to Rs.2 crore.

Other financing options available for enterprises include MSME loans available against the fulfilment of minimum eligibility criteria.

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