- Under Pradhan Mantri Mudra Yojana, our bank provides finance to micro enterprises engaged in manufacturing, trading and service sector businesses in rural, urban and metropolitan areas.
- Mudra loans are classified into three categories based on the quantum of loan amount, which are as follows:
- Child: Rs. Loan amount up to Rs.50,000 is classified under this category.
- Kishore : Rs. 50,000 and above Rs. Loan amount up to 5.00 lakhs is classified under this category.
- Tarun: Rs. 5.00 lakhs and above Rs. Loan amount up to 10.00 lacs is classified under this category.
- The interest rate applicable to these units will be in the range of MCLR + 0.40% to MCLR + 1.65%.
- Loans under Mudra are collateral free. However, the bank receives the charge of the assets created out of bank finance.
- The following documents are compulsorily taken while taking security documents for such loans:
- DP note, hypothecation agreement, continuation letter, term loan agreement (if it is a term loan) etc. ,
- Other terms and conditions as per Bank’s norms from time to time are applicable to these loans.
- Common loan application form is available on the website.
What is PM Mudra Loan Scheme?
PM Mudra Loan Scheme is a scheme launched by the Central Government on April 8, 2015 , PM MUDRA (Micro Units Development and Refinance Agency) loan Yojana It is a scheme launched by the Government of India, under which the government provides small and micro loans to the beneficiary. For the establishment of industry, the benefit of loan is provided according to the category and requirement, under this scheme, the loan given to the citizens is divided into three categories, in which Shishu, Kishor and Tarun loan is included. There is no need to submit more documents or guarantees or security to avail this loan. The youth of the country who are above 18 years of age and want to start their own business, under the PM Mudra Loan Scheme, such beneficiaries can apply for a loan of up to Rs 10 lakh, which they can pay for 3 to 5 years.
| Scheme Name | Prime Minister Mudra Loan Scheme |
| was started | by the central government |
| start date | April 8, 2015 |
| Year | 2023 |
| Channel | online process |
| Scheme Beneficiaries | citizens of the country |
| Objective | business start up loan |
| Loan | 50 thousand to 10 lakh rupees |
| official website | www.mudra.org.in |
Pradhan Mantri Mudra Loan Scheme 2023
Under the PM Mudra Loan Scheme launched by the Central Government, the young small businessmen of the country who want to start their business or want to further expand their established business will get loans from various banks included under PMMY. This loan is given by the bank in easy terms from 50 thousand to 10 lakh rupees according to the category of the person and their requirement. Due to which people will be able to complete the start of their industry without any financial problem. Mudra cards are provided to citizens for taking loan under PM Mudra loan scheme, through this card citizens can get loan from the bank in easy terms.
A budget of Rs 3 lakh crore has been prepared by the central government for better operation of PM Mudra loan scheme, under which a total loan amount of Rs 1 crore 75 lakh has been provided to the beneficiaries so far. Let us tell you that its period has been extended for 5 years to repay the loan under the scheme.
What is PM Mudra Card?
Under Pradhan Mantri Mudra Loan Yojana, a special facility is given to the citizens for setting up their industry, for this they are provided Mudra card to get the loan. By using this currency card, citizens will be able to get loan easily without any problem, for this, a password will also be provided to citizens to use the card, through this card, now citizens will be able to withdraw money according to their needs, which will At the time of need, the beneficiary does not have to face any financial problem for the transaction and he will be able to expand his business easily by getting the loan.
Objective of Prime Minister Mudra Loan Scheme
The main objective of the government to start the PM Mudra Loan scheme is to provide financial assistance to citizens in the form of loans to start their own business. Due to which such citizens of the country who are unemployed and want to start their own small business but due to poor economic condition, they are unable to establish it, they will also be able to start their employment by getting loans under the scheme in easy terms. , This loan amount will be provided to the beneficiary at a low interest rate. With this, many youths of the country who are troubled by the problem of unemployment will be encouraged to set up their own industry, along with this they will be able to open employment opportunities for other citizens as well and the unemployment rate in the country will be reduced.
Benefits of PM Mudra Loan Scheme
The information about the benefits available to the beneficiaries under the PM Mudra Loan Scheme is as follows.
- Citizens of the country who want to start their own small business or business will be provided loan under the scheme.
- Citizens will be able to get a loan of Rs 50 thousand to Rs 10 lakh to start their business.
- Under the scheme mainly traders, shopkeepers and MSMEs, people working in manufacturing and trade can be taken.
- Mudra card will be provided by the central government to citizens citizens to get loans.
- Prime Minister Mudra Loan Women of the country who want to start their own industries will also be encouraged to start the industry.
- Very low or zero processing fee is charged on loans sanctioned to women entrepreneurs for starting the industry.
- The loan amount can also be used as term loan and overdraft service under this scheme.
- Women entrepreneurs are currently provided loans under NBFCs and MFIs at 25 basis points lower interest rates.
- Non-form enterprise, ie small or micro firm Mudra loan can be obtained under the PM Mudra loan scheme.
- Through the scheme, more and more youths will be able to get better benefits by establishing their employment, along with this, they will be able to open employment opportunities for other citizens as well.
Women will also be able to take loan under PMMY
Under the PM Mudra loan scheme, women in the country who want to start their own industry will also be able to get loans under the scheme. For this, under PMMY, collateral free business loan is provided to the applicant female entrepreneur at low interest rates, this loan is given to the female entrepreneur for a period of 5 years, in which she can apply for a loan of up to Rs 10 lakh. . Banks, NBFCs and Micro Finance Institutions will provide this facility to women entrepreneurs, for which very low or zero processing fees are charged on the loan amount sanctioned for starting an industry for women.
PMMY State Toll Free Numbers
State-wise helpline numbers have also been issued to solve any problem under the PM Mudra loan scheme, in which applicants will be able to contact the toll free number of their state, which is as follows.
| Name of the State/UT | Toll Free No. |
| Andaman and Nicobar | 18003454545 |
| Andhra Pradesh | 18004251525 |
| Arunachal Pradesh | 18003453988 |
| Assam | 18003453988 |
| A state in Eastern India | 18003456195 |
| Chandigarh | 18001804383 |
| Jammu and Kashmir | 18001807087 |
| Jharkhand | 18003456576 |
| Kerala | 180042511222 |
| Madhya Pradesh | 18002334035 |
| Lakshadweep | 0484-2369090 |
| Karnataka | 180042597777 |
| Himachal Pradesh | 18001802222 |
| Haryana | 18001802222 |
| Gujarat | 18002338944 |
| Goa | 18002333202 |
| Daman and Diu | 18002338944 |
| Dadra and Nagar Haveli | 18002338944 |
| Maharashtra | 18001022636 |
| Chhattisgarh | 18002334358 |
| Manipur | 18003453988 |
| Meghalaya | 18003453988 |
| Mizoram | 18003453988 |
| Nagaland | 18003453988 |
| Delhi | 18001800124 |
| Rajasthan | 18001806546 |
| Sikkim | 18003453988 |
| Tripura | 18003453344 |
| Uttar Pradesh | 18001027788 |
| Uttarakhand | 18001804167 |
| Telangana | 18004258933 |
| Nagaland | 18003453988 |
| Odisha | 18003456551 |
| Puducherry | 18004250016 |
| Punjab | 18001802222 |
| tamil nadu | 18004251646 |
| West Bengal | 18003453344 |
List of banks included in PM Mudra Yojana
- State Bank Of India
- Andhra Pradesh Bank
- Allahabad Bank
- Corporation Bank
- Punjab And Sind Bank
- Syndicate Bank
- Bank of Maharashtra
- Dena Bank
- Punjab National Bank
- Union Bank of India
- Karnataka Bank
- IDBI Bank
- j&k bank
- ICICI Bank
- Bank of India
- Tamil Nadu Mercateile Bank
- Axis Bank
- Indian Bank
- Canara Bank
- UCO Bank
- Federal Bank
- HDFC bank
- Oriental Bank Of Commerce
- Kotak Mahindra Bank
- Saraswat Bank
- Bank Of Baroda
- Indian Overseas Bank
- Central Bank of India