Pradhan Mantri Mudra Yojana Full Details

Pradhan Mantri Mudra Yojana

Hello and welcome to all the users of this article. Here explanation is brought up of a new scheme known as “Pradhan Mantri Mudra
Yojana”. The scheme (MUDRA) has full form that is Micro Unit Development and Refinance Agency is the public sector financial institution of India which inaugurated by Prime Minister Shri Narendra Modi on 8 April 2015. The main reason was to establishing this agency is to give loans to those candidates who they required to start their business or any other career in order remove unemployment. Headquarter of MUDRA is in Mumbai. This scheme has quality to deliver the loans to a middle-class family in order to develop without any guarantee.  Under this scheme, one can take the loan up to 10,00,000 Lakh rupees for an specific purpose.

Dear readers you are suggested to know about scheme that It was introduced for the biggest growth of entrepreneurship in the Non-Corporate Small Business Sector (NCSB) which provides financial support to this sector. More than 90% of this sector does not have access to formal sources of finance. Through MUDRA Bank which is a statutory enactment for the needs of the NCSB segment or the informal sector for starting them in the mainstream. Pending enactment of an act for MUDRA Bank, a Non-Banking Finance Company as MUDRA Ltd has been set up as a subsidiary of SIDBI.

Other sufficient content regarding Pradhan Mantri Mudra Yojana are given below for all the visitors of this article. Full Details: See this part of post-

Vision: To be an integrated financial and support services provider par excellence benchmarked with global best practices and standards for the bottom of the pyramid universe for their comprehensive economic and social development.

Mission: To create an inclusive, sustainable and value-based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security.

Purposes: Our basic purpose is to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions and creating an environment of growth for microenterprises sector. Provides funding to the various sector for growth and developments in public sectors as well as private sector.

The offering of Funds and interests: MUDRA provides loans with limited funds in three categories-:
  • Shishu-: It covers loan up 50, 000 rupee.
  • Kishor-: It covers loan up 50, 000 rupee to 5, 00, 000 rupee.
  • Tarun-: Its covers loan up 5, 00, 000 rupee to 10, 00, 000 rupee.
Micro Enterprises
Small Enterprises
Up to Rs.50000/-
Base Rate
Base Rate+0.50%
Above Rs.50000/- to Rs.2.00 lacs
Base Rate+0.50%
Base Rate+1.00%
Above Rs.2.00 lacs to Rs.10.00 lacs
Base Rate+1.00%
Base Rate+1.25%

Bank Participations
Central Banks
State Banks
Rural Banks
Private Banks etc.

Features of this scheme:
Helping in developments and growths of business and career.
Reasonable interest rate that everyone can pay in reverts.
Security of funds
Loans without guarantee.
Anyone can take loans.

Eligibility of Availing Loans: Any Indian Citizen who has or want to start a business plan for a non source of income such as manufacturing, processing, trading or service sector whose credit need is less than  10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY (Prime Minister Mudra Yojana). The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY as well as banks also.

Some Banks with their interest rates and tenures:
Mudra Loan Bank
Interest rate
12.75% to 20%
1-5 years
15.95% to 18.95%
1-3 years
Tata Capital
13.49% to 19.50%
1-5 years
Kotak Mahindra Bank
11.5% to 18%
1-5 years
Capital First
13% to 20%
1-5 years
12.75% to 15.75%
1-5 years
IndusInd Bank Ltd
12.99% to 18.25%
1-5 years
19.50% to 37%
1-4 years
Standard Chartered Bank
12.50% to 17%
1-5 years
11.49% to 17.50%
1-5 years
Aditya Birla Finance Ltd
1-3 years
Allahabad Bank
1-5 years
Bank of Baroda
1-3 years
Bank of Maharashtra
1-3 years
Bank of India
12.7% to 14.7%
1-3 years
Canara Bank
1-3 years
Central Bank
1-3 years
Dena Bank
13 % to 14%
1-3 years
12.75% to 13.75%
1-5 years
Indian Bank
12.65% to 13.65%
3 years
Indian Overseas Bank
1-5 years
Karur Vysya Bank
13.9% to 16.40%
1-3 years
Oriental Bank of Commerce
11.2% to 12.95%
1-5 years
South Indian Bank
1-4 years
State Bank of Bikaner and Jaipur
13.2% to 14.2%
1-5 years
State Bank of Hyderabad
15.25% to 15.75%
1-3 years
State Bank of India
1-4 years
State Bank of Mysore
1-3 years
State Bank of Patiala
12.65% to 14.65%
1-5 years
State Bank of Travancore
13.2% to 13.45%
1-5 years
Tamilnad Mercantile Bank
14.4% to 16.4%
1-5 years
UCO Bank
14.1% to 15.1%
4-5 years
Union Bank of India
1-5 years
Vijaya Bank
1-5 years

How to apply for Pradhan Mantri Mudra Yojana: See these steps to apply for yojana-
  • Deserving person are suggested to obtain the application form any bank (including Government Banks and Private Banks).
  • First of all read all the requirements to fill the form than proceed
  • In this step fill the application form as per necessity.
  • Check it and attached required documents (like Aadhar Card, Voter Id Cards, Marks sheet etc with photographs passport size).
  • Submit the application form to the counter of the bank and you receive funds within 15 days available in your bank saving account

Reminder: Dear citizens to get more details for this scheme stay tuned with portal. 

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