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Pradhan Mantri Mudra Yojana 2024

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The Government of India’s main programme is the Pradhan Mantri Mudra Yojana (PMMY). The program enables income-generating microenterprises operating in the manufacturing, trading, or service sectors—including those involved in agriculture-related industries like dairy, beekeeping, or poultry—to get microcredit or loans up to Rs. 10 lakhs. The Scheme offers financial support to non-corporate, non-farm sector income-generating activities of micro and small businesses, which is extended by Member Lending Institutions.

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Millions of sole proprietorships and partnerships operating as small manufacturing, service sector, retail, fruit and vegetable vendors, truck drivers, food-service operators, repair shops, machine operators, small industries, artisans, food processors, and other businesses make up these micro and small entities.

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The following Member Lending Institutions (MLIs) are eligible to offer loans under the Pradhan Mantri Mudra Yojana:

  • Public Sector Banks
  • Private Sector Banks
  • State operated cooperative banks
  • Rural banks from regional sector
  • Micro Finance Institution (MFI)
  • Non-Banking Finance Company (NBFC)
  • Small Finance Banks (SFBs)
  • Other financial intermediary approved by Mudra Ltd. as member financial institutions

Interest rate

The appropriate interest rate is decided by the Reserve Bank of India’s recommendations, which are periodically announced by Member Lending Institutions.

Upfront fee/Processing charges

Banks may consider charging of upfront fee as per their internal guidelines. The upfront fee/processing charges for Shishu loans (Covering loans upto Rs. 50,000/-) are waived by most Banks.

Note :

There are no agents or middleman engaged by MUDRA for availing of Mudra Loans. The borrowers are advised to keep away from persons posing as Agents/ facilitators of MUDRA/PMMY.

Benefits

The program has been divided into three groups, denoted by the terms “SHISHU,” “KISHORE,” and “TARUN,” which represent the recipient micro unit’s or entrepreneur’s finance needs and growth/development stage.Shishu: Paying back debts up to Rs. 50,000.Kishore: Assisting with loans up to Rs. 5 lakhs and exceeding Rs. 50,000.Tarun: Assisting with loans up to and including Rs. 10 lakhs.

Eligibility

Eligible borrowers
  • Individuals
  • Proprietary concern.
  • Partnership Firm.
  • Private Ltd. Company.
  • Public Company.
  • Any other legal forms.

Note 01: The applicant must have a good credit history and not be in arrears with any bank or financial institution.

Note 02: In order to carry out the suggested activity, the individual borrowers might need to have the requisite abilities, background, or expertise.

Note 03: The nature of the suggested activity and its requirements determine if any educational background is necessary.

મુદ્રા લોન યોજના ઓફિસિયલ વેબસાઈટhttps://www.mudra.org.in/
વધુ માહિતી માટેઅહીં ક્લિક કરો

Application Process

Online

The following are the pre-requisites for the enrolment process:

  • ID Proof
  • Address Proof
  • Passport size photograph
  • Applicant Signature
  • Proof of Identity / Address of Business Enterprises

Step 01: Go to PM MUDRA official website and
after that select the Udyamimitra portal

Step 02: Click on Mudra loan “Apply Now”

Step 03: Select one of the following : New entrepreneur/ Existing Entrepreneur/Self-employed professional

Step 04: Then fill in the name of the applicant, email and Mobile number and Generate OTP

After Successful Registration

Step 01: Fill in Personal Details and Professional Details.

Step 02: Select hand-holding agencies if any help is required for preparing project proposals etc., otherwise click “Loan Application Center” and apply.

Step 03: Select the category of loan required – Mudra Shishu / Mudra Kishore/ Mudra Tarun.

Step 04: The applicant then needs to fill in the Business Information like business name, business activity, etc. and select industry type like Manufacturing, Service, Trading or activities allied to agriculture.

Step 05: Fill in other information like owner details, existing Banking/ Credit facilities, proposed credit facilities, future estimates and preferred lender.

Step 06: Attach all required Documents i.e. ID proof, Address proof, Applicant photo, Applicant Signature, Proof of Identity/ Address of Business Enterprise, etc.

Step 07: Once the application is submitted, an Application Number gets generated which needs to be kept for future reference

For Shishu Loan
  1. Proof of Identity – Self- attested copy of Voter’s ID Card / Driving Licence / PAN Card / Aadhaar Card / Passport / Photo IDs issued by Govt. authority etc.
  2. Proof of Residence: Recent telephone bill / electricity bill / property tax receipt (not older than 2 months) / Voter’s ID Card / Aadhar Card / Passport of Individual / Proprietor / Partners Bank passbook or latest account statement duly attested by Bank Officials / Domicile Certificate / Certificate issued by Govt. Authority / Local Panchayat / Municipality etc.
  3. Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
  4. Quotation of Machinery / other items to be purchased.
  5. Name of supplier / details of machinery / price of machinery and / or items to be purchased.
  6. Proof of Identity / Address of the Business Enterprise – Copies of relevant Licences / Registration Certificates / Other Documents pertaining to the ownership, identity of address of business unit, if any.
For Kishore and Tarun Loan
  1. Proof of Identity – Self attested copy of Voter’s ID card / Driving License / PAN Card / Aadhar Card/Passport.
  2. Proof of Residence – Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
  3. Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
  4. Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit.
  5. Applicant should not be defaulter in any Bank/Financial institution.
  6. Statement of accounts (for the last six months), from the existing banker, if any.
  7. Last two years balance sheets of the units along with income tax/sales tax return etc. (Applicable for all cases from Rs.2 Lacs and above).
  8. Projected balance sheets for one year in case of working capital limits and for the period of the loan in case of term loan (Applicable for all cases from Rs.2 Lacs and above).
  9. Sales achieved during the current financial year up to the date of submission of application.
  10. Project report (for the proposed project) containing details of technical & economic viability.
  11. Memorandum and Articles of Association of the company/Partnership Deed of Partners etc.
  12. In absence of third party guarantee, Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth.

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