PRADHAN MANTRI MUDRA YOJANA
MUDRA (Micro Unit Development & Refinance Agency) provides refinance to micro-business under the Scheme of Pradhan Mantri MUDRA Yojana. Indian economy is growing slowly and steadily and to support more and more small and medium enterprises NBFC’s have stepped in. They are in plan to provide financial support to as many as possible small and medium enterprises. These small medium enterprises include fruits & vegetable vendors, small fleet operators, repair & maintenance shops etc. To meet the requirement of such financial issues the banking standard measures will not get affected. These micro units are predominantly sole proprietorship or own account enterprises, a segment that usually fails to meet the stringent checks of banks for loans.
The financing scheme of PMMY has been divided into 3 major financing categories as Shishu, Kishor & Tarun. The division is done on the bases of fund required by the beneficiary for enhancing their enterprises or business.
MUDRA Yojana Offers
S.no
| MUDRA Types | Loan Amount |
1
| Shishu |
Covering loan up to Rs. 50,000/-
|
2
| Kishor |
Covering loan above 50,000 & up to 5 Lakh
|
| 3 | Tarun |
loan above 5 Lakh to 10 Lakh
|
Purpose of MUDRA Loan:
- Equipment Finance for Micro Units
- Business loan for shopkeepers, Vendors, Traders & other Service Sector activities
- The working capital loan through MUDRA Cards
- Transport Vehicle loans
Benefits of Mudra Yojana:
- No minimum limit is set for MUDRA loans.
- Applicant need not submit any security for availing MUDRA Loan
- No processing charges are applicable
- A loan can be availed by all small & medium enterprises who are engaged in the generation of income and employment
- Loan amount acquired by the applicant can be utilized for different purposes since the loan facilitates its extend under Pradhan Mantri MUDRA Yojana
Funding Support of MUDRA Yojana/ loan is of 4 types
- Women Enterprise programmed
- Micro Credit Scheme for loans up to 1 lakh finance through MFIs
- Refinance Scheme for Scheduled Co-operative Banks, Commercial Banks, and Regional Rural Banks
- Securitization of a loan portfolio
MUDRA Yojana or Loan is a best business loan option for all those who are planning to run their business at large scale. Apply for a personal loan and fulfill your dreams under the guidance of the government. The government itself is promoting enterprises and business plan by empowering small medium enterprises, enterprising women and strengthening nation.
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