{Ready} Pradhan Mantri Mudra Yojana Application Form | PMMY Online Application | Mudra Loan

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Pradhan Mantri Mudra Yojana:- The MUDRA loan is granted under the Pradhan Mantri Mudra Yojana (PMMY). MUDRA stands for Micro Unit Development and Refinancing Agency. Under this scheme, the borrower baby loan, juvenile loan And Loan Tarun Business loans ranging from Rs 50,000 to Rs 10 lakh can be availed depending on the categories. Let us tell you that on April 8, 2015 by Prime Minister Shri Narendra Modi Pradhan Mantri Mudra Yojana Has been initiated.

Indian government to provide affordable credit to non-farm and non-farm micro and small enterprises Pradhan Mantri Mudra Yojana (PMMY) Launching a flagship program called One of the main objectives of MUDRA loans was to bring the target audience into the formal financial fold. Here today through this article we are going to tell you PM Mudra loan We will provide all the information such as registration process, documents, eligibility, application, etc. For which you must read this article carefully till the end.

Pradhan Mantri Mudra Yojana

The full form of MUDRA is Micro Units Development and Refinance Agency Ltd., which was set up as a refinance institution that provides up to Rs.10 lakhs to eligible businesses through Commercial Banks, RRBs, Banks cooperatives, NBFCs and MFIs, etc. Borrowers can approach the nearest branches of credit institutions or apply for a loan under the MUDRA program or apply online.

schema name Prime Minister Mudra Loan Scheme
spear By PM Shri Narendra Modi
program launched year 2015
nodal agency Agency for the development and refinancing of micro-units
Beneficiary small and medium start-up business
Amount of the loan Maximum Rs 10 lakh
Application system offline
diet type Central planning
official site www.mudra.orGin

Types of loans under PMMY – Pradhan Mantri Mudra Yojana

Types of MUDRA loan => There are three schemes namely Tarun, Kishor and Shishu. Under which you will get the loan as follows.

Plan name Amount of the loan
Shishu Up to Rs.50,000
Kishor Rs.50,000 to Rs.5 lakh
Tarun Rs.5 lakh to Rs.10 lakh

These plans are designed to help meet the requirements of various business activities and sectors as well as the requirements of the entrepreneurial/commercial sectors.

Benefits of taking Pradhan Mantri Mudra Loan

The main features and advantages of the MUDRA loan are:

  • Banking and financial services can be used in rural and urban areas.
  • Financial support can be obtained by micro-small businesses and start-ups.
  • A business loan can be taken out for a small amount at affordable interest rates.
  • The borrower’s credit guarantee is taken by the government, so if a borrower is unable to repay the amount borrowed, the liability for the loss will be borne by the government.
  • Food vendors, merchants, and other small business owners can get the most out of this program.
  • Financial assistance is available through this program in areas where people do not have access to basic banking services.
  • The repayment period of the plan can extend up to seven years.
  • Women borrowers can benefit from loans at preferential interest rates.
  • Refinance programs can also be used with designated lenders.

Pradhan Mantri Mudra Yojana Covid-19 New Update

You already know that the whole country is fighting the corona pandemic. Due to this epidemic, there has been a lockdown in the country, due to which everyone’s economic situation has been greatly affected. To get out of this mess, Finance Minister Nirmala Sitharaman announced on May 14, 2020 the campaign for autonomous India. Under this standalone Indian package, all people who have taken Shishu loan (up to Rs 50,000) under the PMMY will receive financial assistance of 2% interest amount for 12 months.

Indian government recently announced some benefits under Atmanirbhar Abhiyan, MUDRA Shishu will be eligible to get the category. Advantages are :

  • Under the MUDRA Shishu category, relief of up to Rs 1,500 crore will be given to borrowers.
  • An interest subsidy of Rs 1500 crore will be granted to borrowers of MUDRA Shishu.
  • FAST beneficiaries will be granted a 2% discount on their interest rate for a period of one year by the Government of India.

Eligibility Criteria for Pradhan Mantri Mudra Yojana

Indian citizens who have their own business plans for service sector activities, or trading or manufacturing activities and need an amount of up to Rs 10 lakh for a MUDRA loan. MUDRA loans can be obtained from public sector banks, private sector banks, regional rural banks (RRBs), small financial banks (SFBs) and microfinance institutions (MFIs).

The following people are eligible for the Pradhan Mantri Mudra loan –

Age of applicant at least 18 years old
MSME Businessman
maker company owner
startup businessman small entrepreneurs
trader a person with agricultural work

Documents required to apply for a MUDRA loan

If you want to get a loan under Pradhan Mantri Mudra Yojana, you must have the following documents when you apply –

  • Application form => Completed application form according to loan category
  • Identity proof => Aadhar Card, Voter ID Card, Driving License, Passport, etc.
  • Proof of address => Utility bills (electricity bills, telephone bills, etc.), Aadhar card, voter card, passport, etc.
  • pictures => 2 passport size photographs of the applicant
  • Caste certificate => if applicable
  • Other Documents => Quote of the item or items to be purchased and used for the business.

Interest rate for PMMY 2022

The interest rate of the MUDRA loan depends on the profile of the applicant. Many public and private sector banks offer MUDRA loans. All lenders have certain guidelines, the final interest rate at which the loan is granted to an applicant, is decided by the lender himself. This is done after reviewing the business requirements of the applicant.

note => There is no fixed interest rate under the Mudra Loan Scheme. Different interest rates are charged for different Mudra bank loans. The main interest rate is 12%.

The interest rate applicable to MUDRA loans is based on the MCLR (Marginal Cost of Lending Rate) as defined by RBI with the following breakdown.

Up to Rs.50000
Micro-enterprises MCLR+SP
Small enterprises (MCLR + SP) + Bank Charge

Above Rs.50000 up to Rs.2 lakhs

(MCLR + SP) + Bank Charge (MCLR + SP) + Bank Charge
Small enterprises (MCLR + SP) + Bank Charge

Above Rs.2 lakhs up to Rs.10 lakhs

Micro-enterprises (MCLR + SP) + Bank Charge
Small enterprises (MCLR + SP) + Bank Charge

Pradhan Mantri Mudra Yojana Online Application

If you want to get a loan from the bank to start your business under the Pradhan Mantri Mudra Yojana. So follow the steps below.

  • To get a loan under Pradhan Mantri Mudra Yojana, you must first go to the relevant bank and get their application form.
  • Make sure the required documents are ready. The main documents you will need are your ID, address and company.
  • After that, you will need to fill in your name, address, mobile number, Aadhar card number, etc. in the form received by the bank. In addition, other documents must be attached –
  • Now your form will be filled by the bank officer after which he will check all your documents and forms and submit them.
  • After which, you will get the loan amount in your bank account within the given time.

What is the MUDRA card?

When you apply for a MUDRA loan, you receive a MUDRA card which is a debit card. After successfully applying for the loan, you need to open an account with which the card is issued. You can use the MUDRA card to successfully withdraw the loan amount, which will be paid into your MUDRA account.

Pradhan Mantri Mudra Yojana Online Application Form 2022

If you want to join the system and want to get its updates immediately. So, for this, you need to log in to the PMMY portal. For which you need to follow the following steps.

  • Firstly visit PMMY official website (https://www.mudra.org.in/) continue to.
  • Here you need to click on the “PMMY Portal Login” link on the home page. As shown below-
  • After that, the login form will open in front of you. Here you have to login by entering your username, password and captcha code.

Pay attention :- If you have any information or questions regarding the PMMY loan, you can ask the program’s helpline number. To Download Pradhan Mantri Mudra Yojana Toll Free Number / Pradhan Mantri Mudra Yojna Toll Free Number => Click here

Frequently Asked Questions (FAQ)

  • Question => Can the MUDRA loan application form be submitted online?
    Answer => Yes, you can apply online by visiting the official Mudra Loan website – www.mudra.org.in but you must have a proper business plan to apply for a business loan.
  • Question => Is there any grant under Pradhan Mantri Mudra Yojana?
    Answer => No. There is no grant under Pradhan Mantri Mudra Yojana.
  • Question => Can I take out a MUDRA loan if I recently graduated from university?
    Answer => Yes. University graduates who want to start their own business can apply for a MUDRA loan. Depending on the type of business you want to start and the project requirements, MUDRA can help you manage your business.
  • Question => I am a female entrepreneur and I want to create my own shop. Can MUDRA help?
    Answer => Yes. Women entrepreneurs can make the most of the special refinancing program offered to women entrepreneurs. Mahila Udyami Yojana, when called, offers a 0.25% interest subsidy on the use of a MUDRA loan from an NBFC or a microfinance institution.

Here we have provided you all the information of “Pradhan Mantri Mudra Yojana 2022″. If you want to know more about this, you can ask us via the comment below. We will certainly provide you with answers to your questions. For more information on other programs, visit our website yojanahindipm.in Stay with Thanks –

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