17 Nov Pradhanmantri Weaver Mudra Scheme By : Central Government Date : 17-11-2020 Pradhanmantri Weaver Mudra Scheme of GoI is being implemented by the Handloom Department to provide adequate and timely credit upto Rs. 2 lakhs to the weavers to meet their credit requirement, mostly individual proprietorship/Own Account Enterprises.. Most of these units are outside the formal banking system, and hence are forced to borrow from informal sources or use their limited owned funds. MUDRA Loan Scheme has been proposed to bridge this gap. MUDRA Loan Scheme will aim to increase the confidence of the aspiring young person to become first generation entrepreneurs as also of existing small businesses to expand their activities. The MUDRA loans are extended under following three categories: Loans upto ` 50,000/- (Shishu Loan) Loans from ` 50,001 to ` 5 lakh (Kishore Loan) Loans from ` 5,00,001/- to ` 10 lakh (Tarun Loan)