The establishment of MUDRA Bank was announced in the union budget 2015-16 presented by former Finance Minister Shri Arun Jaitley
The biggest bottleneck to the expansion of entrepreneurship within the Non–Corporate little sector (NCSBS) is the lack of economic support to the present sector. over the ninetieth of this sector doesn't have access to formal sources of finance. GoI is fitting Pradhan Mantri gesture Yojna Bank through a statutory enactment for business to the wants of the NCSBS section or the informal sector for conveyance them within the thought.
Pradhan Mantri gesture Yojna would be answerable for refinancing all walk Financiers like Non-Banking Finance corporations, small Finance establishments, Societies, Trusts, Section eight corporations [formerly Section 25], little Finance Banks and Regional Rural Banks that square measure within the business of loaning to micro/small business entities engaged in producing, commerce and services activities further as agri-allied activities. Pradhan Mantri gesture Yojna would conjointly partner with State/Regional level money intermediaries to supply finance to walk Financier of small/micro business enterprises.
Under the aegis of Pradhan Mantri gesture Yojana (PMMY) has already created its initial products/schemes. The interventions are named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to suggest the stage of growth/development and funding desires of the beneficiary small unit/entrepreneur and conjointly to supply a reference for a future section of graduation/growth to appear forward to. The money limit for these schemes are:-
Mainly Three categories of MUDRA Yojana Loan:-
- Shishu loan: under Shishu category extremely small business unit and cover Rs. 50,000 finance
- Kishor loan: Under Kishor category for the medium business unit and loan amount Rs. 50,000/- to Rs. 5,00,000/- cover.
- Tarun loan: this category is for larger than medium businesses under this loan amount can approve up to Rs. 5,00,000/- to Rs. 10,00,000/-
Benefits of MUDRA loan:-
- The main benefit of this scheme is provided loan without any mortgage
- The loan can be avail for a new and existing unit
- For women 0.25% less interest is available
- Loan available for the manufacturing sector, service sector, and also for the professional sector.
- Loan for buy commercial vehicles like auto Rickshaw, small transport vehicle, three-wheeler, passenger car, taxi, etc
- Also provide loan for opening professional shop hairs cutting shop, beauty parlor, gym, tailor shop, dry cleaning, repairing shop of cycles and motorcycle, Xerox machine shop, medical store, courier agent, restaurant, etc
- Loan for producing food products like cottage industry Papad, pickles, sweet shop, small food stall, canteen service, unit of making ice and ice-cream, biscuits, bread making unit,
Eligibility for MUDRA loan:-
- Applicant must be live in India
- Applicant age should be a minimum of 18 years and maximum of 65 years
MUDRA Loan interest rate:-
- SBI 9.75 % for up to 5 years
- HDFC bank 10.99 % to 20.70 %
- ICICI bank 10.99 % to 17.99%
- Bank of Baroda 9.65 % p.a. onwards
- Bank of Maharashtra 8.95 % p.a. onwards
Required Documents for Pradhan Mantri MUDRA Yojana:-
- Mudra application form
- Two passport size photo
- Photo identity proof(votar ID card / Driving license / PAN card / Adhar card )
- Certificate of category Schedule Cast / Schedule Tribal / OBC / minority class Proof
- Address proof(Light bill / Telephone bill / slip of property tax / votar ID card / Adhar Card / Passport)
- Address proof of business/workplace
- Rent Agreement copy ( in case of the shop is on rent)
- Income proof
- Bank statements (last six months)
- Quotation of requiring equipment with GST ( in case of starting a new business)
- Projected balance sheet for one year if the working capital limit for the period of the loan in case of term applicable for Rs 2 Lacs and above loan
- Project report for all proposed project
Tamilrockers ia also a movie website. Plz support us.
ReplyDelete