PM Mudra Loan: Pradhan Mantri Mudra Yojana (PMMY) provides non-agricultural small and micro enterprises in manufacturing, trading and service sectors with Rs. Loan up to 10 lakhs. These are called mudra loans. This scheme has three categories namely Shishu, Kishore and Tarun. Individuals, Proprietary Firms, Partnership Firms, Private Limited Companies, Public Companies and other legal forms can also avail loans through this scheme.
To raise the standard of living of the people in the country, the government takes many measures to help them grow economically. In particular, it implements various schemes to increase revenues. Chief among them is loan assistance for businesses. For many, lack of business skills and interest becomes a major obstacle. If such people are financially supported, they will stand on their own feet and give employment to others. Pradhan Mantri Mudrayojana is the scheme introduced by the central government for this purpose.
PMMY..
Pradhan Mantri Mudra Yojana (PMMY) provides non-agricultural small and micro enterprises in manufacturing, trading and service sectors with Rs. Loan up to 10 lakhs. These are called mudra loans. This scheme has three categories namely Shishu, Kishore and Tarun. Individuals, Proprietary Firms, Partnership Firms, Private Limited Companies, Public Companies and other legal forms can also avail loans through this scheme. A loan of Rs.50 thousand in child category, Rs.50 thousand to Rs.5 lakh in Kishore category and Rs.5 lakh to Rs.10 lakh in Tarun category.
Subject to the rules.
Interest rates on loans given under PM Mudra scheme are charged by lending institutions based on Reserve Bank guidelines. They may change from time to time. Also processing charges are charged subject to certain rules. Many banks have waived off the advance fee as well as processing charges especially for infant loans.
These are the qualifications..
- Applicant should not be a bank or financial institution defaulter. Must have a good credit score.
- Personal loan borrowers should be skilled in their profession.
- In some cases educational qualification is required.
- Public Sector Banks, State Operating Cooperative Banks, Micro Finance Institutions (MFIs), Private Sector Banks, Grameen Banks, Non-Banking Finance Companies (NBFCs), Small Finance Banks (SFBs), availing Mudra Loans from any approved financial institutions. There is a possibility.
Apply online..
- Before applying online for PM Mudra Loans you need to keep documents like your ID card, address proof, passport size photograph, signature of the applicant, address of business establishments ready. First go to the official website of PM Mudra Scheme. Then you have to select the Akhakamitra portal. Click on Apply Now option.
- Choose one of the options New Entrepreneur, Establish Entrepreneur, Self Employed Professional etc. Then enter your name, email and mobile number.
- After registration enter personal and professional information.
- Click on Loan Application Center and apply.
- Select one of the Shishu, Kishore, Tarun categories.
- Applicant must provide details about their organization and business.
- Details of owner, current banking/credit facilities, future plans, company from which they want to take loan etc. should be entered.
- Attach all the copies as per above information.
- After submitting the application you will get an application number. Remember it for future needs.
Read also: Women Credit Card: This special credit card made for women has…
