Pradhan Mantri Mudra Yojana (PMMY) is a special scheme by central govt. of India through MUDRA (a subsidiary of SIDBI). MUDRA supports institution to extend loans to the non-corporate non-farm sector income generating activities of micro and small entities. It is subject to those enterprises with credit needs below Rs. 10 lakhs. Both udyamitra.in and mudra.org.in are the official website of Pradhan Mantri Mudra Yojana.
PM Mudra Loan Yojana 2020 will also help in creating an ecosystem of growth for micro enterprises sector. The interventions have been named “Shishu”, “Kishor” and “Tarun” to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur. Basically, MUDRA Yojana is an initiative to fund the small business in India.
All those people who wants to get loans under PM Mudra Yojana can apply online by filling PMMY application form at www.udyamimitra.in. Moreover, people can also download PM Mudra Loan Yojana application forms in PDF format through www.mudra.org.in.
PM Mudra Yojana (PMMY) 2020 Apply Online Form for Bank Loan
Mudra Loan Scheme aims to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions. Below is the complete process to apply online by filling Pradhan Mantri Mudra Yojana Application Form 2020:-
- Firstly visit the official PMMY website at https://www.udyamimitra.in/
- Applicant can scroll down the home page and click at “Mudra loans” tab or directly click the link here
- At this page, complete information regarding loans under PM Mudra Yojana is present. Scroll down on this page to find the link “Click here to Apply” under “Apply for Mudra Loan” section or directly click link below
- Then the PM Mudra Yojana online registration form 2020 will appear as shown below:-
- Here enter the expected loan amount and select scheme name, then the Pradhan Mantri Mudra Loan Yojana Apply Online Form 2020 will appear as below:-
- Accordingly, enter all the details and click at the “Register” button to complete the Pradhan Mantri Mudra Yojana online registration process. For more details, click the link – How to Apply Online for Mudra Loan Yojana
Then choose the hand holding support, fill remaining PMMY application form and then apply to the preferred lender as mentioned in the lending institutions list. Your application shall be viewed by many lenders for credit support. Before applying for a loan, view the checklist which can help you to fill up your application faster.
PM Mudra Yojana Loan Application Form PDF Download (Offline Method)
Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches across the country. All the applicants can even download the PM Mudra Yojana application forms in PDF format through the link given below:-
The PMMY bankers kit to download application forms for Shishu, Tarun & Kishor component under Pradhan Mantri Mudra Yojana will appear as below:-
MUDRA Loan Application Form for Shishu Loan
Click at the download option in front of “Application Form for Shishu” in PMMY Bankers Kit to open Shishu Loan Apply Offline Form PDF:-
MUDRA Loan Application Form for Tarun / Kishor Loans
Click at the download option in front of “Common Loan Application form for Kishor and Tarun” in PMMY Bankers Kit to open Kishor / Tarun Loan Apply Offline Form PDF:-
Also view the checklist for filling PMMY Shishu Loan application form in the PMMY bankers kit.
What is Pradhan Mantri MUDRA Loan Yojana
Micro Units Development & Refinance Agency Ltd. (MUDRA) is an institution for development and refinancing micro finance institutions such as banks, NBFCs, MFIs and Other financial intermediaries, which are in the business of lending to manufacturing, processing, trading and service sector activities whose credit needs is less than Rs. 10 lakh.
MUDRA provides refinance Support to banks, NBFCs / MFIs for PMMY. Other than the refinance product, MUDRA will also provide development support to the sector through other products. The other product offerings as depicted in the diagram below will be targeted across the spectrum of beneficiary segments.
Who can avail the MUDRA loan under PMMY
All non-farm sector income generating activities such as manufacturing, trading and services whose credit needs below Rs. 10 lakh are known as MUDRA Loans under Pradhan Mantri Mudra Yojana (PMMY).
Types of Loans under Pradhan Mantri Mudra Yojana (PMMY)
However there is certain eligibility criteria to get a loan under MUDRA Yojana. Any individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY loans. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has formulated three Schemes to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur:-
- Shishu: Loans upto Rs. 50,000. This stage would cater to entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.
- Kishor: Loans above Rs. 50,000/- and up to Rs. 5 lakh. This section of entrepreneurs would belong to either those who have already started their business and want additional funds to mobilize their business.
- Tarun: Loans above Rs. 5 lakh and up to Rs.10 lakh. If an entrepreneur meets the required eligibility conditions, he/she could apply loan for upto Rs.10 lakhs. This would be the highest level of amount that an entrepreneur could apply for a startup loan.
The MUDRA loans under the PMMY can be taken from the approved Non Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Public/Private Sector commercial banks and Regional Rural Banks (RRBs) across India. The loans will be sanctioned by the lending institutions as per the eligibility.
Eligibility Criteria for PM Mudra Loan Scheme 2020
All the applicants must fulfill the basic eligibility criterion to become eligible for bank loans under PM Mudra Yojana 2020. The business should be either one of the following:-
- Small manufacturing enterprise
- Fruit and Vegetable vendors
- ‘Activities allied to agriculture’, e.g. pisciculture, bee keeping, poultry, livestock, rearing, grading, sorting, aggregation agro industries, diary, fishery, agriclinics and agribusiness centres, food & agro-processing, etc.(excluding crop loans, land improvement such as canal, irrigation and wells).
List of Documents Required for Mudra Yojana Bank Loan
- Self certified copy of identity proof such as Voter ID card / PAN Card / Aadhar Card / Passport / Driving License.
- Residence proof which may contain recent telephone or electricity bill, property tax receipt (not older than 2 months). Voter’s ID card, Aadhar Card & Passport of the borrower can also act as proof of residence.
- Proof of SC/ST/OBC/Minority.
- Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit.
- The applicant should not be a defaulter in any Bank/Financial institution.
- Statement of accounts (for the last six months), from the existing banker, if any.
- Balance sheets of the units along with income tax/sales tax return etc of the last 2 years. (Applicable for all cases from Rs. 2 Lacs and above).
- 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).
- Project report (for the proposed project) containing details of technical & economic viability.
- Sales achieved during the current financial year up to the date of submission of application.
- Memorandum and articles of association of the company/Partnership Deed of Partners etc.
- Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth in the absence of third party guarantee.
- 2 copies of Photographs of each Proprietor/ Partners/ Directors.
Click at the link https://www.udyamimitra.in/Home/Downloads to view checklist for PM Mudra Yojana Bank Loans.
Check Credit Counselling Institutions List 2020
Finding difficult in filling Pradhan Mantri Mudra Yojana Loan application, then don’t worry. The portal will help finding the correct person / right agency to fill the form on your behalf. All you need is to fill in basic personal details with request for agency / person (fees may be charged by the agency / person) on udyamimitra portal. This facility is called as HAVE (Handholding in a virtual Environment). So, if you are planning to set up and intend to apply for loans, click at the link below:-
Upon clicking this link, select the state, district, area of expertise, agency name and click at the “Search” button to open the Credit Counselling Institutions List.
PM Mudra Loan Yojana Helpline Number (Contact)
The borrowers who wish to avail MUDRA loan assistance under PMMY can contact directly to the banks, partnered financial institutions and non banking finance companies or the MUDRA nodal officers. MUDRA has identified a total of 97 Nodal Officers across the country at various SIDBI regional/branch offices to act as “First Contact Person” for MUDRA. Below are the links to access the Toll free helpline numbers, list of Nodal officers, banks nodal officers, PMMY mission office contact details and PMMY offices in Mumbai.
Progress of Mudra Loan Scheme till 27 March 2020
Financial Year – 2015 to 2020
Total Number of PMMY Loans Sanctioned – 24.09 crore (24,09,48,705)
Amount Sanctioned – 12.17 lakh crore (12,16,951.58 crore)
Amount Disbursed – 11.82 lakh crore (11,82,615.02 crore)
The state wise details of loans/money sanctioned under the PM MUDRA Yojana can be found at http://www.mudra.org.in/PMMYReport
For further information on PM MUDRA YOJANA, please visit official website at: https://mudra.org.in/ or https://www.udyamimitra.in/