Pradhan Mantri Mudra Loans

PRADHAN MANTRI MUDRA YOJANA

Micro Units Development & Refinance Agency Ltd. (MUDRA) is a new institution set up by Government of India to provide funding to the non-corporate, non-farm sector income generating activities of micro and small enterprises whose credit needs are below Rs. 10 Lakh.

Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has created three products i.e. 'Shishu', 'Kishore' and ‘Tarun’ as per the stage of growth and funding needs of the beneficiary micro unit. These schemes cover loan amounts as below:

a.    Shishu: covering loans up to Rs. 50,000

b.    Kishore: covering loans above Rs. 50,000 and up to Rs. 5,00,000

c.    Tarun: covering loans above Rs. 5,00,000 and up to Rs.10,00,000

All Non-Corporate Small Business Segment (NCSBS) comprising of proprietorship or partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits/vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, food processors and others in rural and urban areas, are eligible for assistance under Mudra.

Bank branches would facilitate loans under Mudra scheme as per customer requirements. Loans under this scheme are collateral free loans.

Working Capital Loans will be provided through Mudra Cards

Mudra Loans could be availed for the following

Vehicle loan

Commercial vehicle loan

Car loan and

Two-wheeler loan

Documents Required for Pradhan Mantri Mudra Yojana

Vehicle Loans

·         Mudra application form

·         Vehicle loan application form

·         2 passport size colour photographs

·         Photo Identity proof

·         Address proof

·         Income proof

·         Bank statement (last 6 months)

Business Installment Loan

·         Mudra application form

·         BIL application form

·         Photo identity proof

·         Address proof

·         Establishment proof

·         Bank statement (last 6 months)

·         Ownership proof of residence/office

·         Proof of continuity of business

·         Proof of qualification

·         Trade references

Business Loans Group and Rural Business Credit

·         Mudra application Form

·         BIL/RBC application form

·         Photo identity and age proof

·         Address proof

·         Ownership proof of residence/office

·         Business vintage proof

·         Bank statement (last 12 months)

·         Income tax return (last 2 years)

      

      Following is the format of Mudra Application Form

Visit www.mudra.org.in for more details

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