PM Mudra Loan Online Apply 🔥 | Mudra Loan Apply Online | Mudra Loan Details | Govt Loan apply online
PM Mudra Loan Online Apply 🔥 | Mudra Loan Apply Online | Mudra Loan Details | Govt Loan apply online
SUBSCRIBE ME ALSO ON:
▶️ My Second Channel: / @smartmoneybybilal
--------------------------------------------------------
MUDRA LOAN SCHEME - SALIENT FEATURES
1. Brief background for introduction of MUDRA Loan Scheme by Govt. of India
As per NSSO survey (2013), there are around 5.77 crore small/micro units
in the country, engaging around 12 crore people, mostly individual
proprietorship/Own Account Enterprises. Over 60% of units are owned by
persons belonging to Scheduled Caste, Scheduled Tribe or Other Backward
Classes. 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.
2. Brief details of the Product
MUDRA loans are extended by Banks, NBFCs, MFIs and other eligible
financial intermediaries as notified by MUDRA Ltd. The Pradhan Mantri
MUDRA Yojana (PMMY) announced by the Hon’ble Prime Minister on 8th
April 2015, envisages providing MUDRA loan, upto `20 lakh, to income
generating micro enterprises engaged in manufacturing, trading and
services sectors. The overdraft amount of `10,000 sanctioned under PMJDY
has been also classified as MUDRA loans under Prime Minister MUDRA
Yojana (PMMY). The MUDRA loans are extended under following three
categories:
Loans upto `50,000/- (Shishu)
Loans from `50,001 to ` 5 lakh (Kishore)
Loans from `5,00,001/- to `10 lakh (Tarun)
Loans from `10,00,001/- to `20 lakh (Tarun Plus)
Amount of assistance
Upto to `20 lakh in four categories viz. Shishu, Kishore, Tarun and Tarun
Plus.
3. Eligible borrowers
✓ Individuals
✓ Proprietary concern.
✓ Partnership Firm.
✓ Private Ltd. Company.
✓ Public Company.
✓ Any other legal forms.
The applicant should not be defaulter to any bank or financial institution and
should have a satisfactory credit track record. The individual borrowers may
be required to possess the necessary skills/experience/ knowledge to
undertake the proposed activity. The need for educational qualification, if
any, need to be assessed based on the nature of the proposed activity, and
its requirement.
4. Purpose of Assistance/Nature of assistance.
Need based term loan/OD limit/composite loan to eligible borrowers for
acquiring capital assets and/or working capital/marketing related
requirements. The MUDRA loans are provided for income generating small
business activity in manufacturing, processing, service sector or trading.
The Project cost is decided based on business plan and the investment
proposed. MUDRA loan is not for consumption/personal needs. For the
purpose of working capital limit, MUDRA has launched a new product called
“MUDRA Card”, which is a Debit card issued on RuPay platform, and
provides hassle free credit in a flexible manner.
5. Amount of assistance
Upto to ` 20 lakh in three categories viz. Shishu, Kishore, Tarun and Tarun
Plus.
6. Margin/Promoters Contribution
Margin/Promoters Contribution is as per the policy framework of the bank,
based on overall guidelines of RBI in this regard. Banks may not insist for
margin for Shishu loans.
7. Interest rate
Interest rates are to be charged as per the policy decision of the bank.
However, the interest rate charged to ultimate borrowers shall be
reasonable. Scheduled Commercial Banks, RRBs and Cooperative Banks
wishing to avail of refinance from MUDRA will have to peg their interest
rates, as advised by MUDRA Ltd., from time to time.
8. Upfront fee/Processing charges.
Banks may consider charging of upfront fee as per their internal guidelines.
The upfront fee/processing charges for Shishu loans are waived by most
banks.
9. Security
C. CGTMSE (wherever felt desirable)/MUDRA Guarantee cover (as and when
introduced).
In terms of RBI guidelines issued vide Master Circular on lending to MSME
Sector (para 4.2) dated July 01, 2014, in respect of loans upto ` 10 lakh,
banks are mandated not to accept collateral security in the case of loans
upto ` 10 lakh extended to units in the Micro Small Enterprises (MSE) Sector.
Banks are required to encourage their branch level functionaries to avail of
the Credit Guarantee Scheme cover, wherever felt desirable.
📌 Disclaimer
This video is made for educational and informational purposes only. We do not promote or endorse or any financial institution. Loan eligibility, approval, interest rates, and repayment terms depend on the company’s official policies and your individual profile.
Before applying for any loan, please read the official terms & conditions carefully and make an informed decision. Borrow responsibly—taking a loan is a financial commitment.