PM Mudra Yojana | SME Loans | Mudra Loan
Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon'ble Prime Minister on April 8, 2015, for providing loans up to Rs10 lakh to the needy people in India. Loans are an essential part to run a small business or big business in India or maybe in the World. When you need small business loans, you can approach Mudra Bank at first to endeavor your small business ideas. Maximum loan amount: Upto Rs 10 lacs; Loans up to Rs.50,000 are categorized as SHISHU; Loans from Rs.50,001 to Rs.500,000 are categorized as KISHORE and Loans from 500,000 to Rs.1000,000 are categorized as TARUN.
The first question is what is the Mudra loan?
Mudra loan is small business loans, available to entrepreneurs and businessmen in a short term and long term period, who has no collateral or other securities to be given to the bank, right now. Check here to have details of Mudra Loans.
Where to get Mudra Loans?
All branches of all banks in India are availing Mudra Loans.
What is the maximum amount of Mudra Loan?
The maximum amount of the Mudra loan is fixed to Rs.10,00,000.00 and the minimum amount is Rs.50,000.00. This project is divided into three categories
1. Shishu loan - Rs.50,000.00 meant for micro business
2. Kishor Loan - Above Rs.50,000.00 and up to Rs.5,00,000.00 and
3. Tarun Loan - Above Rs.5,00,000.00 and up to Rs.10,00,000.00
You can apply for Mudra Loans online too. Bank of Baroda has provided such a service to you online. Click the below link :
Which are the banks authorized to avail Mudra Loans? And know all about Mudra loans
If any bank denies to entertain you for Mudra loans, what could you do?
Who, how and why can avail Mudra Loans
To know more about Mudra Loans, I am sharing a video made by NEW BUSINESS IDEAS in Malayalam.
Note: This video is shared here to spread information about this project and this site never holds any responsibility.