Additionally, the Mudra loan scheme promotes entrepreneurship and self-employment by providing financial assistance to individuals who want to start or expand their micro or small businesses. This contributes to the growth of the economy and creates employment opportunities.

Moreover, the loan processing and disbursal is quick and streamlined, which helps small business owners get access to funds easily and without much hassle. The interest rates for Mudra loans are also relatively low compared to other loans, which makes it a cost-effective option for small business owners.

Overall, the Mudra loan scheme is a great initiative by the government to support and promote the growth of small businesses and entrepreneurship in the country.