Mudra Loan : : Pradhan Mantri Mudra Yojana (PMMY)
Micro Units Development and Refinance Agency Ltd. is a MUDRA institution. The MUDRA institution will support to the growth of India’s small micro-enterprise sector. You will check out below how to apply for a MUDRA loan.
Prime Minister Narendra Modi launched the Prime Minister’s Currency Scheme (PMMY) scheme on April 8, 2015. The scheme provides loans up to Rs 10 lakh and the loans are classified as currency loan accounts under PMMY. Loans are given by commercial banks, RRBs banks, microfinance banks, MFI banks and NBFC banks. The coin has created three products such as children, adolescents, and young people that will increase recipient micro-units and increase funding.
Shishu: Covering loans up to 50,000.
Tarun: Covering loans above 5,00,000 and up to 10,00,000.
Kishore: Covering loans above 50,000 and up to 5,00,000.
This MUDRA loan Yojana has been launched with the aim of increasing entrepreneurship among the new generation of youth. More attention will be paid to these three sections, in the children’s section units and then in the juvenile section units and youth section units.
|No. of PMMY Loan Sanctioned||R.S. 3,48,80,924/-||R.S. 3,97,01,047/-||R.S. 4,81,30,593/-||R.S. 5,98,70,318/-||R.S. 5,83,65,823/-||R.S. 4,31,72,305/-|
|Loan Amount Sanctioned||R.S. 1,37,449.27/-||R.S. 1,80,528.54/-||R.S. 2,53,677.10/-||R.S. 3,21,722.79/-||R.S. 3,21,722.79/-||R.S. 2,78,520.37/-|
|Loan Amount Disbursed||R.S. 1,32,954.73/-||R.S. 1,75,312.13/-||R.S. 2,46,437.4/-||R.S. 3,11,811.38/-||R.S. 3,11,811.38/-||R.S. 2,63,741.95/-|
Mudra Loan Features
Here are the features of the MUDRA loan –
- It will be good in business production or service, it will benefit businesses.
- This loan allows you to meet the requirements.
- As a result of this loan, you will be able to purchase equipment, increase expansion, restructure the business, increase work capital requirements and much more.
- Everyone new and existing can apply for this MUDRA loan.
- The repayment period of this loan is from three to five years.
- You can apply for MUDRA loan online through the official website.
How to Apply for Mudra Loan (PMMY)
- Go to the official website.
- Your ID proof, address proof, and business proof are required.
- Filled in the application form.
- Upload your documents and submit the application form.
- Then you will get a currency card, you can withdraw the amount from your account through your card.