Honorable Prime Minister Mr. Narendra Modi had released the PM Mudra Yojana 8 April 2015. Under this scheme,the loan up to Rs. 10 lakhs is provided to non-corporate, small business entities. The primary motive is financial support for the growth of the micro-enterprises sector. The loan under the PM Mudra scheme is provided under three categories that are Shishu, Kishore, and Tarun. The loan amount for the said categories is up to Rs. 50,000, Rs. 50,001- Rs 5 lakh, and 5 lakhs and up to Rs 10 lakh respectively. You can easily apply for the said loan by visiting the bank. Currently, twenty-nine (29) banks are providing services of PM Mudra loans. Rural, public, and private sector banks are offering the said loan.
If you want to apply, you can easily download the application form. The separate direct link to download the Shishu, Kishore, and Tarun loan application form is provided here.The complete information related to the PMMY scheme has been well provided on this page. You are suggested to check eligibility, interest rate, documents required by going through below provided details. Or you can visit the official portal www.mudra.org.in to attain additional information.
|अगर आप प्रधानमन्त्री मुद्रा योजना के लिए आवेदन करना चाहते हैं तो आप आसानी से प्रधानमन्त्री मुद्रा योजना पोर्टल से ऑनलाइन आवेदन पत्र डाउनलोड कर सकते हैं । शिशु, किशोर, और तरुण ऋण आवेदन पत्र डाउनलोड करने का लिंक भी नीचे दिया गया है।|
Types Of PM Mudra Loan
For the easement, the category of the loan has been divided into three groups that are Shishu, Kishore, and Tarun. The explanation for all has been provided below.
Shishu–Under this category the loan will be provided up to Rs.50,000
Kishore–In this the loan amount is offered more than Rs.50,000 and less than Rs.5 lakh
Tarun–And the loan amount more than Rs.5 lakh and below Rs.10 lakh will be provided under this category.
MUDRA Loan Eligibility
Individuals engaging in service, trading, or manufacturing activities are eligible to apply for the loan, and the maxi min amount of the loan will be Rs.10 lakh. You can apply for the loan at-
- Public and Private sector banks
- Regional Rural Banks (RRBs)
- Small Finance Banks
- Micro Finance Institutions
- Non-Bank Financial Institution (NBFCs)
Benefits Of PM Mudra Yojana
- The facility of the scheme is available for both rural as well as urban areas.
- The collateral or other security will not be needed to apply for the loan.
- The loan under the PMMY yojana can be taken by the micro-small businesses and for new business.
- The rate of interest is low as compared to others.
- The guarantee under this will be taken by the government only. In case of no repayment of the loan the liability to repay the loan is come on the government.
- Loan taken by the women will be provided at the discounted interest rates.
- The amount raised against the loan must be used for the business only.
- There is the option to pay the loan in 07 years.
Business Entities Eligible For PM Mudra Yojana
- For self-business and startups
- Micromanufacturing firms
- Partnerships and Service sector firms
- Micro industries
- Repairing shops
- Trucks owners
- For Food Business
- Fruits and Vegetable Business
Documents Required For प्रधानमन्त्रीमुद्रायोजना
- Any Identity Proof (Aadhaar card, Voter ID Card, PAN card, Photo ID, Driving License, Passport)
- Residence Proof
- 2 passport-size photograph (Recent)
- Rent agreement (if the business is running on rent land)
- Proof of Income
- Bank details and the copy of bank statement
- Proof for the establishment of business
- Qualification documents
- Age proof
PM Mudra Yojana Application Form Link
|Common Loan Application form for Kishor and Tarun||Download Here|
|Application Form for Shishu||Download Here|
|Checklist for Shishu Application||Download Here|
Procedure To Fill Application Form For PM Mudra Yojana
- You can download the application form either by going to the official portal, or you can download it by pressing the above link.
- After downloading the form, fill the required details correctly; all the details must be verified and correct in all manner.
- After that, you have to visit the public or commercial sector bank offering the loan under PM Mudra Yojana. Ensure to carry a duly filled application form and all the supporting documents.
- After that, you have to fulfill the terms and conditions of the bank.
- Now submit the application form and required documents.
- At the last bank will verify all the documents and complete other procedures.
- Finally, the loan will be sanctioned.
Banks offering Loans under PM Mudra Yojana (PMMY)
- Oriental Bank of Commerce
- ICICI Bank
- Kotak Mahindra Bank
- Standard Chartered Bank
- Indian Bank
- State Bank of Patiala
- Bank of India
- Central Bank of India
- IDBI Bank
- HDFC Bank
- Indusind Bank
- Dena Bank
- State Bank of Bikaner and Jaipur
- State Bank of Travancore
- Canara Bank
- Allahabad Bank
- Vijaya Bank
- Karur Vysya Bank
- UCO Bank
- Bank of Baroda
- Union Bank of India
- Tamilnad Mercantile Bank
- Indian Overseas Bank
- South Indian Bank
- Bank of Maharashtra
- State Bank of Hyderabad
- HDFC Bank
- State Bank of India
CA Shivam Channa is a trusted financial writer with deep knowledge of financial systems. He has over 10 years of experience in writing His articles are always well researched and provide great insights into the topic at hand.