ముద్రా లోన్ పూర్తి వివరాలు | mudra loan | mudra loan detail | mudra loan online apply
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Introduction
1. Pradhan Mantri MUDRA Yojana (PMMY) is a scheme set up by the Government of India (Gol) for providing Mudra Loans up to Rs. 10 Iakhs to the non-corporate, non-farming small & micro enterprises. Mudra Loans are provided under three categories as mentioned below:
- Up to Rs. 50,000 – Shishu Category
- Rs. 50,001 to Rs. 5 Iakhs – Kishore Category
- Rs. 5,00,001 to Rs. 10 Iakhs – Tarun Category
2. Mudra Loans are provided to income generating small & micro enterprises engaged in:
- Trading
- Manufacturing Services Sector
3. Extended by Commercial Banks, MFIs, NBFCs and other financial intermediaries.
4. Provides financial assistance to small and micro businesses to help them develop and expand their businesses.
Eligible Applicants
1. Types of Eligible borrowers:
- Individuals
- Private Limited Company
- Proprietary Concern
- Public Company
- Partnership Firm
- Entities of any other legal forms
2. The applicant should not be a defaulter to any bank or financial institution and should have a satisfactory credit track record.
3. The individual borrowers may be required to possess the necessary skills/experience/ knowledge to undertake the proposed activity.
4. The need for educational qualification, if any, need to be assessed based on the nature of the proposed activity, and its requirement.
Nature of Assistance
- Term Loan
- Overdraft Limit
- Working Capital Loans
- Composite Loans for acquiring Capital Assets
Additional Information
- Margin/Promoter’s Contribution is as per the policy framework of the lender, which is based on overall guidelines of RBI in this regard. Banks may not insist for margin for Shishu loans.
- 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.
- Interest rates should be charged as per the lender’s policy. However, the interest rates charged to ultimate borrowers should be reasonable.
- First charge on all assets created out of the loan extended to the borrower and the assets which are directly associated with the business/project for which credit has been extended.
Frequently Asked Questions
Related to Pradhan Mantri Mudra Yojana (PMMY)
1. What is MUDRA?
MUDRA stands for Micro Units Development & Refinance Agency is set up to provide funding to the non-corporate small business sector through various financial Institutions like Banks, NBFCs and MFIs.
2. Who are eligible to avail loans under the scheme?
Proprietorship/partnership firms, in rural/urban areas running below mentioned businesses:
- Small manufacturing units
- Service sector units
- Shopkeepers
- Fruits/Vegetable vendors
- Truck operators
- Food-service units
- Repair shops
- Machine operators
- Small industries
- Artisans
- Food processors and others.
3. What will be the product offerings under MUDRA?
The interventions have been named `Shishu‘, ‘Kishor‘ and ‘Tarun‘ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur.
The financial limits for these schemes are: –
- Shishu: covering loans up to Rs. 50,000/-
- Kishor: covering loans above Rs. 50,000/- and up to Rs. 5 lakhs
- Tarun: covering loans above Rs. 5 lakhs to Rs. 10 lakhs
4. What is rate of interest applied on MUDRA?
The interest rates are deregulated, and the banks have been advised to charge reasonable interest rates.
5. What are the collateral security requirements under MUDRA?
Reserve Bank of India (RBI) has mandated the banks not to insist for collateral security in the case of loans up to 10 lakhs extended to the units in the Micro Small Enterprises sector.
6. Does all bank offer assistance under MUDRA?
Yes. Department of Financial Services (DFS) vide its letter dated May 14, 2015 have advised all PSBs, RRBs and Small Finance Banks regarding roll out of PMMY and to cover all loans up to loan size of 10 lakhs under PMMY.
7. Is there any subsidy under MUDRA?
There is no subsidy for the loan given under PMMY.
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