info@sarkarschemes.com

12345678910

Banking,Financial Services

Pradhan Mantri Mudra Yojana
Check Eligibility
Details

Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India. The scheme facilitates micro credit/Loan up to Rs. 20 lakhs to income generating micro enterprises engaged in the non farm sector in manufacturing, trading or service sectors including activities allied to agriculture such as poultry, dairy, beekeeping, etc. The Scheme provides financial assistance extended by Member Lending Institutions to the non-corporate, non-farm sector income generating activities of micro and small entities.

These micro and small entities comprise of millions of proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others.

The loans under Pradhan Mantri Mudra Yojana can be availed through eligible Member Lending Institutions (MLIs), which include:

  • Public Sector Banks
  • Private Sector Banks
  • State operated cooperative banks
  • Rural banks from regional sector
  • Micro Finance Institution (MFI)
  • Non-Banking Finance Company (NBFC)
  • Small Finance Banks (SFBs)
  • Other financial intermediary approved by Mudra Ltd. as member financial institutions

Interest rate

The interest rates are declared by Member Lending Institutions from time to time as per Reserve Bank of India guidelines based on which applicable interest rate is determined.

Upfront fee/Processing charges

Banks may consider charging of upfront fee as per their internal guidelines. The upfront fee/processing charges for Shishu loans (Covering loans upto Rs. 50,000/-) are waived by most Banks.

Note :

There are no agents or middleman engaged by MUDRA for availing of Mudra Loans. The borrowers are advised to keep away from persons posing as Agents/ facilitators of MUDRA/PMMY.

Benefits

he scheme has been classified under four categories as ‘SHISHU’, ‘KISHORE’ , ‘TARUN’ and ‘TARUN PLUS’ to signify the stage of growth / development and funding needs of the beneficiary micro unit/ entrepreneur.
Shishu: Covering loans upto Rs.50,000/-.
Kishore: Covering loans above Rs.50,000/- and upto Rs. 5 lakhs.
Tarun: Covering loans above Rs. 5 lakhs and upto Rs. 10 lakhs.
Tarun Plus : Loans up to Rs. 20 lakh for enterpreneurs who have successfully repaid previous loans under the ‘Tarun’ category.

Eligibility

Eligible borrowers
  • Individuals
  • Proprietary concern.
  • Partnership Firm.
  • Private Ltd. Company.
  • Public Company.
  • Any other legal forms.

Note 01:The applicant should not be a defaulter to any bank or financial institution and should have a satisfactory credit track record.

Note 02: The individual borrowers may be required to possess the necessary skills/experience/ knowledge to undertake the proposed activity.

Note 03: The need for educational qualification, if any, is assessed based on the nature of the proposed activity and its requirements.

Application Process

Online

The following are the prerequisites for the enrolment process:

  • ID Proof
  • Address Proof
  • Passport-sized photograph
  • Applicant Signature
  • Proof of Identity / Address of Business Enterprises

Step 01: Go to the PM MUDRA official website and
After that, select the Udyamimitra portal

Step 02: Click on Mudra loan “Apply Now”

Step 03: Select one of the following: New entrepreneur/ Existing Entrepreneur/Self-employed professional

Step 04: Then fill in the name of the applicant, email and Mobile number and generate OTP

After Successful Registration

Step 01: Fill in Personal Details and Professional Details.

Step 02: Select hand-holding agencies if any help is required for preparing project proposals, etc., otherwise click “Loan Application Centre” and apply.

Step 03: Select the category of loan required – Mudra Shishu / Mudra Kishore/ Mudra Tarun.

Step 04: The applicant then needs to fill in the Business Information like business name, business activity, etc. and select industry type like Manufacturing, Service, Trading or activities allied to agriculture.

Step 05: Fill in other information like owner details, existing Banking/ Credit facilities, proposed credit facilities, future estimates and preferred lender.

Step 06: Attach all required Documents i.e. ID proof, Address proof, Applicant photo, Applicant Signature, Proof of Identity/ Address of Business Enterprise, etc.

Step 07: Once the application is submitted, an Application Number gets generated which needs to be kept for future reference.

Apply Now

Jan Samarth

Documents Required

For Shishu Loan
  1. Proof of Identity – Self-attested copy of Voter’s ID Card / Driving Licence / PAN Card / Aadhaar Card / Passport / Photo IDs issued by Govt. authority, etc.
  2. Proof of Residence: Recent telephone bill/electricity bill/property tax receipt (not older than 2 months) / Voter’s ID Card / Aadhar Card / Passport of Individual / Proprietor / Partners Bank passbook or latest account statement duly attested by Bank Officials / Domicile Certificate / Certificate issued by Govt. Authority / Local Panchayat / Municipality, etc.
  3. Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
  4. Quotation of Machinery / other items to be purchased.
  5. Name of supplier/details of machinery/price of machinery and/or items to be purchased.
  6. Proof of Identity / Address of the Business Enterprise – Copies of relevant Licences / Registration Certificates / Other Documents of the ownership, identity, of address of the business unit, if any.
For Kishore, Tarun and Tarun Plus Loan
  1. Proof of Identity – Self-attested copy of Voter’s ID card / Driving License / PAN Card / Aadhar Card/Passport.
  2. Proof of Residence – Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
  3. Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
  4. Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration certificates/other documents about the ownership, identity and address of the business unit.
  5. Applicant should not be a defaulter in any Bank/Financial institution.
  6. Statement of accounts (for the last six months), from the existing banker, if any.
  7. Last two years’ balance sheets of the units, along with income tax/sales tax return, etc. (Applicable for all cases from Rs. 2 Lacs and above).
  8. Projected balance sheets for one year in case of working capital limits and for the period of the loan in case of term loan (Applicable for all cases from Rs. 2 Lacs and above).
  9. Sales achieved during the current financial year up to the date of submission of the application.
  10. Project report (for the proposed project) containing details of technical & economic viability.
  11. Memorandum and Articles of Association of the company/Partnership Deed of Partners, etc.
  12. In the absence of a third-party guarantee, an Asset & Liability statement from the borrower, including Directors & Partners, may be sought to know the net-worth.

Pradhan Mantri Suraksha Bima Yojana

Details

An Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident.

Premium:

Rs 20/- per annum per member. The premium will be deducted from the account holder’s bank / Post office account through the ‘auto debit’ facility on or before 1st June of each annual coverage period under the scheme.

Coverage Duration:

Coverage under PMJJBY is valid for one year from 1st June to 31st May on payment of the annual premium.

Accident cover assurance termination:

The accident cover of the member shall terminate/be restricted accordingly on any of the following events:

• On attaining the age of 70 years (age nearer birth day).

• Closure of account with the Bank or insufficiency of balance to keep the insurance in force.

In case a member is covered under PMSBY through more than one account and the premium is received by the insurance company inadvertently, insurance cover will be restricted to Rs. 2 lakh.

Benefits

  1. On Death- the Nominee shall get Rs. 2 Lakhs.
  2. Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot- Subscriber shall get Rs. 2 Lakhs.
  3. Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot –subscriber shall get Rs. 1 Lakh.

Eligibility

Individual bank account holders of participating banks aged between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, will be enrolled into the scheme.

Application Process

Offline

Step 01: In order to enrol in PMSBY offline, one can visit the bank branch where one has a savings account or the candidate can visit the official site: https://jansuraksha.gov.in/Forms-PMSBY.aspx to download the form.

Step 02: After downloading the application form, the candidate can fill in all the details and submit them to the bank along with the required documents.

Step 03: Once it is successfully submitted, the subscriber will get an Acknowledgement Slip Cum Certificate of Insurance.

Contact:

State-wise toll-free number – https://jansuraksha.gov.in/files/STATEWISETOLLFREE.pdf

National Toll Free Number – 1800-180-1111 / 1800-110-001

ONline

One can also avail cover under PMSBY online using their bank’s Net banking facility.