Pradhan Mantri Mudra Yojana
Hello and welcome to all the users of this article. Here
explanation is brought up of a new scheme known as “Pradhan Mantri Mudra
Yojana”.
The scheme (MUDRA) has full form that is Micro Unit Development and Refinance
Agency is the public sector financial institution of India which inaugurated by
Prime Minister Shri Narendra Modi on 8 April 2015. The main reason was to
establishing this agency is to give loans to those candidates who they required
to start their business or any other career in order remove unemployment. Headquarter
of MUDRA is in Mumbai. This scheme has quality to deliver the loans to a
middle-class family in order to develop without any guarantee. Under this scheme, one can take the loan up
to 10,00,000 Lakh rupees for an specific purpose.
Dear readers you are suggested to know about scheme that It
was introduced for the biggest growth of entrepreneurship in the Non-Corporate
Small Business Sector (NCSB) which provides financial support to this sector. More
than 90% of this sector does not have access to formal sources of finance.
Through MUDRA Bank which is a statutory enactment for the needs of the NCSB
segment or the informal sector for starting them in the mainstream. Pending
enactment of an act for MUDRA Bank, a Non-Banking Finance Company as MUDRA Ltd
has been set up as a subsidiary of SIDBI.
Other sufficient content regarding Pradhan Mantri Mudra Yojana are given below for all the
visitors of this article.
www.mudra.org.in
Full Details: See this part of post-
Vision: To
be an integrated financial and support services provider par excellence
benchmarked with global best practices and standards for the bottom of the
pyramid universe for their comprehensive economic and social development.
Mission:
To create an inclusive, sustainable and value-based entrepreneurial culture, in
collaboration with our partner institutions in achieving economic success and
financial security.
Purposes:
Our basic purpose is to attain development in an inclusive and sustainable
manner by supporting and promoting partner institutions and creating an
environment of growth for microenterprises sector. Provides funding to the
various sector for growth and developments in public sectors as well as private
sector.
The offering of
Funds and interests: MUDRA provides loans with limited funds in three
categories-:
- Shishu-: It covers loan up 50, 000 rupee.
- Kishor-: It covers loan up 50, 000 rupee to 5, 00, 000 rupee.
- Tarun-: Its covers loan up 5, 00, 000 rupee to 10, 00, 000 rupee.
Limits
|
Micro
Enterprises
|
Small
Enterprises
|
Up to Rs.50000/-
|
Base Rate
|
Base Rate+0.50%
|
Above Rs.50000/- to Rs.2.00 lacs
|
Base Rate+0.50%
|
Base Rate+1.00%
|
Above Rs.2.00 lacs to Rs.10.00 lacs
|
Base Rate+1.00%
|
Base Rate+1.25%
|
Bank
Participations:
Central Banks
State Banks
Rural Banks
Private Banks etc.
Features of this
scheme:
Helping in developments and growths of business and career.
Reasonable interest rate that everyone can pay in reverts.
Security of funds
Loans without guarantee.
Anyone can take loans.
Eligibility of
Availing Loans: Any Indian Citizen who has or want to start a business
plan for a non source of income such as manufacturing, processing, trading or
service sector whose credit need is less than
10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA
loans under PMMY (Prime Minister Mudra Yojana). The usual terms and conditions
of the lending agency may have to be followed for availing of loans under PMMY
as well as banks also.
Some Banks with their interest rates and tenures:
Mudra
Loan Bank
|
Interest
rate
|
Tenure
|
HDFC
|
12.75% to 20%
|
1-5 years
|
HDBFS
|
15.95% to 18.95%
|
1-3 years
|
Tata Capital
|
13.49% to 19.50%
|
1-5 years
|
Kotak Mahindra Bank
|
11.5% to 18%
|
1-5 years
|
Capital First
|
13% to 20%
|
1-5 years
|
Citibank
|
12.75% to 15.75%
|
1-5 years
|
IndusInd Bank Ltd
|
12.99% to 18.25%
|
1-5 years
|
Fullerton
|
19.50% to 37%
|
1-4 years
|
Standard Chartered Bank
|
12.50% to 17%
|
1-5 years
|
ICICI Bank
|
11.49% to 17.50%
|
1-5 years
|
Aditya Birla Finance Ltd
|
14%
|
1-3 years
|
Allahabad Bank
|
13.70%
|
1-5 years
|
Bank of Baroda
|
14.15%
|
1-3 years
|
Bank of Maharashtra
|
15.20%
|
1-3 years
|
Bank of India
|
12.7% to 14.7%
|
1-3 years
|
Canara Bank
|
13.65%
|
1-3 years
|
Central Bank
|
12.70%
|
1-3 years
|
Dena Bank
|
13 % to 14%
|
1-3 years
|
IDBI Bank
|
12.75% to 13.75%
|
1-5 years
|
Indian Bank
|
12.65% to 13.65%
|
3 years
|
Indian Overseas Bank
|
14.70%
|
1-5 years
|
Karur Vysya Bank
|
13.9% to 16.40%
|
1-3 years
|
Oriental Bank of Commerce
|
11.2% to 12.95%
|
1-5 years
|
South Indian Bank
|
14.80%
|
1-4 years
|
State Bank of Bikaner and Jaipur
|
13.2% to 14.2%
|
1-5 years
|
State Bank of Hyderabad
|
15.25% to 15.75%
|
1-3 years
|
State Bank of India
|
17.80%
|
1-4 years
|
State Bank of Mysore
|
16.90%
|
1-3 years
|
State Bank of Patiala
|
12.65% to 14.65%
|
1-5 years
|
State Bank of Travancore
|
13.2% to 13.45%
|
1-5 years
|
Tamilnad Mercantile Bank
|
14.4% to 16.4%
|
1-5 years
|
UCO Bank
|
14.1% to 15.1%
|
4-5 years
|
Union Bank of India
|
14.4%
|
1-5 years
|
Vijaya Bank
|
13.7%
|
1-5 years
|
How to apply for
Pradhan Mantri Mudra Yojana: See these steps to apply for yojana-
- Deserving person are suggested to obtain the application form any bank (including Government Banks and Private Banks).
- First of all read all the requirements to fill the form than proceed
- In this step fill the application form as per necessity.
- Check it and attached required documents (like Aadhar Card, Voter Id Cards, Marks sheet etc with photographs passport size).
- Submit the application form to the counter of the bank and you receive funds within 15 days available in your bank saving account
Reminder:
Dear citizens to get more details for this scheme stay tuned with portal.
Take a Look on Below Table
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