{Application} Pradhan Mantri Mudra Loan Scheme 2023: Mudra Loan Documents (PM Mudra Loan Yojana)
Pradhan Mantri Mudra Loan Yojana has been started by the Central Government on 8 April 2015. Under this scheme, a loan of up to Rs 10 lakh will be provided to a non-corporate, non-agricultural micro, small scale enterprise. This is a government loan scheme for entrepreneurs to start and develop their industry. Whose benefits can be taken by all the small businessmen of the country. So let us know in detail the information related to PM Mudra Loan Yojana, how citizens can get the benefit of the scheme to start their business and to further their business. All types of information related to Pradhan Mantri Mudra Loan Yojana have been shared in this article of ours. Therefore, for more information related to the scheme, read our article till the end.
What is PM Mudra Yojana?
Micro Units Development And Refinance Agency (MUDRA) loan scheme under PMMY is an initiative of the Government of India. Which provides loan assistance to individuals, SMEs and MSMEs . Under this scheme, the loan given to the beneficiary citizens has been divided into three categories. On the basis of Shishu, Kishor and Tarun category, the beneficiaries can get loans on the basis of their needs according to this scheme. Beneficiary citizens are not required to mortgage their property for grant to the banks for availing Mudra loan. Under this scheme, the beneficiary citizen can pay the loan amount for 3 or 5 years. The maximum beneficiary can apply for a loan of Rs 10 lakh under the Mudra loan scheme for his business.
PM Mudra Loan Yojana – For small businessmen to start their business and grow their business, this scheme of the central government is providing loans to businessmen under banks on easy terms. Loans offered under this scheme are classified as Mudra loans under PMMY. These loans are given to businessmen by commercial banks, RRBs, small finance banks, cooperative banks, MFIs and NBFCs. The loan given under this scheme has been divided into three parts. Individuals can get the benefit of loan assistance from this scheme by selecting any one category as per their requirement.
Type of Pradhan Mantri Mudra Yojana
- Shishu Loan: Under this type of Mudra Yojana, a loan of up to ₹ 50000 will be allotted to the beneficiaries.
- Kishor Loan: Under this type of Mudra Yojana, loans ranging from ₹ 50000 to ₹ 500000 will be allotted to the beneficiaries.
- Tarun Loan: Under this type of Mudra Yojana, loans ranging from ₹ 500000 to ₹ 1000000 will be allotted to the beneficiaries.
Bank That Provides Loan Under the Pradhan Mantri Mudra Loan Scheme 2023
- Allahabad Bank
- bank of India
- Corporation Bank
- ICICI Bank
- j&k bank
- Punjab And Sind Bank
- Syndicate Bank
- Union Bank of India
- Andhra Bank
- Bank Of Maharashtra
- Dena Bank
- IDBI Bank
- Karnataka Bank
- Punjab National Bank
- Tamil Nadu Mercantile Bank
- Axis Bank
- Canara Bank
- federal bank
- Indian Bank
- Kotak Mahindra Bank
- Saraswat Bank
- UCO Bank
- Bank Of Baroda
- Central Bank Of India
- HDFC bank
- Indian Overseas Bank
- Oriental Bank of Commerce
- State Bank Of India
- Union Bank of India
Mudra Yojana ( PMMY )
| Scheme Name | Prime Minister Mudra Loan Scheme |
| Year | 2023 |
| plan launched | 8 April 2015 |
| plan launched | by Prime Minister Narendra Modi |
| Objective | Providing loans to businessmen to develop business |
| beneficiary | citizens of the country |
| Loan | From Rs 50 thousand to Rs 10 lakh |
| official website | mudra.org.in |
PM Mudra Loan Scheme Budget Amount
Pardhanmantri Mudra Loan Yojana – A budget of Rs 3 lakh crore has been prepared by the Central Government for this scheme for businessmen to set up business. Under this budget, a total loan amount of Rs 1 crore 75 lakh has been provided to the beneficiary citizens so far. Under this scheme, a special type of facility has been provided to the beneficiary citizens to take loans. Entrepreneurs will not have to pay any kind of processing fee for applying loan on the basis of this facility.
Along with this, the period of 5 years has been extended to repay the loan taken as per the scheme. Mudra card is provided to the citizens for taking loans under this scheme. With the help of this currency card, the beneficiary citizens can easily get the loan amount.
Let us tell you that a budget of Rs 3 lakh crore was prepared by the central government for the Mudra loan, out of which loans worth Rs 1.75 lakh crore have been distributed so far. Under the Pradhan Mantri Mudra Loan Scheme 2023, those who want to take a loan will not have to pay any processing charges to take the loan. The loan repayment period under this scheme has been extended by 5 years. The people of the country are given a Mudra card to take a Mudra loan under this Pradhan Mantri Mudra Loan Scheme 2023. Through this article, we are going to provide all the information related to this Pradhan Mantri Mudra Loan Scheme 2023 like the application process, documents, eligibility, etc. So read our article till the end.
Benefits of PM Mudra Loan Scheme
- Any person in the country who wants to start his own small business can take a loan under PMMY.
- Under this scheme, the citizens of the country will be given loans without a guarantee to start their businesses.
- Apart from this, no processing charge is also levied for the loan.
- The loan repayment period under Mudra Yojana can be extended up to 5 years.
- The borrower gets a Mudra card, with the help of which the expenditure on business needs can be met.
Documents for Pradhan Mantri Mudra Loan Yojana by Pradhan Mantri
- Applicant should not be a defaulter in any bank
- Aadhar card
- pan card
- Permanent address of application
- Business Address and Proof of Establishment
- Balance Sheet of last three years
- Income Tax Returns and Self Tax Returns
- passport size photo
The process to apply online under PM Mudra Yojana
- First of all, you have to go to the official website of Mudra Yojana mudra.org.in.
- Now the home page will open in front of you.
- On the home page, you will see the types of Mudra Yojana which are as follows.
- Shishu
- Kishor
- Tarun
- After this, a new page will open in front of you.
- You have to download the application form from this page.
- After that, you have to take a printout of this application form.
- Now you have to fill in all the important information asked in the application form carefully.
- After this, you have to attach all the important documents.
- Now you have to submit this application form to your nearest bank.
- After the verification of your application, the loan will be provided to you within 1 month.
PMMY Helpline Number:
| State | PMMY Toll-Free Number |
| Chandigarh | 18001804383 |
| Maharashtra | 18001022636 |
| Arunachal Pradesh | 18003453988 |
| Andaman and Nicobar | 18003454545 |
| Andhra Pradesh | 18004251525 |
| Bihar | 18003456195 |
| Daman and Diu | 18002338944 |
| Assam | 18003453988 |
| Gujarat | 18002338944 |
| Dadra Nagar Haveli | 18002338944 |
| Himachal Pradesh | 18001802222 |
| Goa | 18002333202 |
| Jharkhand | 18003456576 |
| Haryana | 18001802222 |
| Kerala | 180042511222 |
| Jammu and Kashmir | 18001807087 |
| Lakshadweep | 4842369090 |
| Karnataka | 180042597777 |
| Manipur | 18003453988 |
| Meghalaya | 18003453988 |
| Chhattisgarh | 18002334358 |
| Mizoram | 18003453988 |
| Nagaland | 18003453988 |
| Madhya Pradesh | 18002334035 |
| Odisha | 18003456551 |
| NCT of Delhi | 18001800124 |
| Puducherry | 18004250016 |
| Punjab | 18001802222 |
| Sikkim | 18004251646 |
| Rajasthan | 18001806546 |
| Tamil Nadu | 18004251646 |
| Tripura | 18003453344 |
| Uttarakhand | 18001804167 |
| Telangana | 18004258933 |
| West Bengal | 18003453344 |
| Uttar Pradesh | 18001027788 |
What is PM Mudra Card?
This is a debit card issued to applicants for taking loans under Pradhan Mantri Mudra Loan Yojana . This debit card is made available to all citizens who apply for Mudra loan. According to the PM Mudra Loan Scheme, the loan account of the applicants whose loan amount is approved is opened under the scheme. Along with opening an account, Mudra Card is also issued for the convenience of the beneficiary citizens. So that he can withdraw the loan amount deposited in the account under Mudra Debit Card . Mudra card is provided to the beneficiary citizens to make financial services easier and better. Password is provided for using the Mudra Debit Card . This password has to be kept confidential by the citizen.
Mudra Loan Scheme Interest Rates 2023
Under the PMMY scheme, the interest rates on the loan amount made available by various banks to the citizens are as follows. Citizens should be aware of the interest rate of all banks to avail loan under Mudra loan scheme at low rates.
| banks and institutions | rate of interest | processing fee | Maximum loan amount | loan repayment tenure |
| State Bank Of India | Starting from 9.75% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Bank of Baroda | Starting from 8.15% + BSS | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Bajaj Finserv | 1% to 12% per annum | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Saraswat Bank | Starting from 11.65% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| flexi loan | Starting from 1% p.m. | As per the profile of the applicant | up to Rs.10 lakh | 7 years |
| UCO Bank | Starting from 8.85% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Union Bank of India | Starting from 7.60% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Punjab National Bank | Starting from 9.60% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| PSB Loan in 59 Minutes | Starting from 8.50% | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
| Lending-Kart Finance | up to 1% per month | As per the profile of the applicant | up to Rs.10 lakh | 5 year |
Benefits of Pradhan Mantri Mudra Loan Scheme 2023
- Under PMMY , mainly shopkeepers, traders, vendors and MSME can be taken by people working in manufacturing and trade and service sector.
- The Mudra scheme launched by the Government of India comes under the credit guarantee schemes.
- The benefit of PMMY scheme can be availed under Mudra card.
- The loan amount can also be used as term loan and overdraft service under this scheme.
- Under the PM Mudra Loan Scheme, all non-agriculture businesses involved in income generating activities can avail the benefits of the Small Business Mudra Loan Scheme.
- Women are encouraged to set up enterprises under the Pradhan Mantri Mudra Loan Yojana .
- To provide loans to women entrepreneurs through this scheme, banks, loan institutions and Micro Finance Institutions (MFIs) have been asked under the government to provide loans at low interest rates.
- At present, loans are made available to women entrepreneurs under the Mudra loan scheme under NBFCs and MFIs at 25 basis points less interest rates.
PMMY Eligibility
- Only those citizens who want to start their own business can apply for Pradhan Mantri Mudra Loan Yojana .
- The age of the applicant person should be more than 18 years to take loan under Mudra Yojana .
- According to this scheme, the applicant person should not be a defaulter from any bank.
PMMY Documents
- application form
- Passport size photograph of the applicant
- identity card
- Address proof
- Documents related to income proof such as sales tax return, ITR, license, registration etc.
- caste certificate
- Aadhar card
- PAN card