PM Mudra Yojana Loans for Business Apply, details at mudra.org.in

PMMY Loans through Mudra Yojana scheme updates at www.mudra.org.in...
PMMY Loans for Business, Pradhan Mantri Mudra Yojana (PMMY) Application forms are available in all bank branches; get full details about PMMY Loans visit www.mudra.org.in website.

What is the eligibility of persons for availing MUDRA loans?
Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than  10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY). The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time.

What are the offerings of MUDRA? How will MUDRA function?
Under the aegis of Pradhan Mantri MUDRA Yojana, MUDRA has already created its initial products / schemes. The interventions have been named 'Shishu', 'Kishor' and 'Tarun' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth to look forward to :
  • a.Shishu : covering loans upto  50,000/-
  • b.Kishor : covering loans above  50,000/- and upto  5 lakh
  • c.Tarun : covering loans above  5 lakh to  10 lakh
MUDRA will be operating as a refinancing institution through State / Regional level intermediaries. MUDRA's delivery channel is conceived to be through the route of refinance primarily to NBFCs / MFIs, besides other intermediaries including Banks, Primary Lending Institutions etc.

At the same time, there is a need to develop and expand the delivery channel at the ground level. In this context, there is already in existence, a large number of 'Last Mile Financiers' in the form of companies, trusts, societies, associations and other networks which are providing informal finance to small businesses.

Are Regional Rural Banks (RRBs) eligible for assistance from MUDRA?
Yes, MUDRA will be extending refinance support to RRBs for enhancing their liquidity.

What is the rate of interest charged by MUDRA?
MUDRA will be a refinancing agency which will extend its funds to Last Mile Financiers to enable them to reach out to the sector. Access to finance in conjunction with rational price is going to be the unique customer value proposition of MUDRA. It will use a variety of innovative financing means to bring down the cost of funding for the ultimate borrower.

I have graduated recently. I want to start my own business. Can MUDRA help me?
MUDRA offers smaller loans upto  50,000/ under the 'Shishu' category and beyond  50,000 and upto  5 lakh under the 'Kishor' category. It also offers loans beyond 5lakh and upto  10 lakh under the Tarun category. Depending on your nature of business project requirement you can access finance from one of the intermediaries of MUDRA as per the norms.

I want to expand my pottery business by adding more variety and designs. What help can I get from MUDRA?
You can avail assistance under the 'Shishu' category of Micro Credit Scheme of MUDRA through any of the MFIs operating in your region for setting up your own enterprise.

PM Mudra Yojana Loans for Business details at mudra.org.in

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