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    MUDRA

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    djamitbravo
    MUDRA was set up by the Government of India to provide funding to small businesses through loans of up to Rs. 10 lakh offered by Banks/NBFCs. Applicants are not required to provide collateral for MUDRA loans. MUDRA monitors the progress of the Pradhan Mantri Mudra Yojana scheme which aims to promote small businesses, startups and MSMEs in India.

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    MUDRA

    Uploaded by

    djamitbravo
    14 views3 pages
    MUDRA was set up by the Government of India to provide funding to small businesses through loans of up to Rs. 10 lakh offered by Banks/NBFCs. Applicants are not required to provide collateral for MUDRA loans. MUDRA monitors the progress of the Pradhan Mantri Mudra Yojana scheme which aims to promote small businesses, startups and MSMEs in India.

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    MUDRA was set up by the Government of India to provide funding to small businesses through loans of up to Rs. 10 lakh offered by Banks/NBFCs. Applicants are not required to provide collateral for MUDRA loans. MUDRA monitors the progress of the Pradhan Mantri Mudra Yojana scheme which aims to promote small businesses, startups and MSMEs in India.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    14 views3 pages

    MUDRA

    Uploaded by

    djamitbravo
    MUDRA was set up by the Government of India to provide funding to small businesses through loans of up to Rs. 10 lakh offered by Banks/NBFCs. Applicants are not required to provide collateral for MUDRA loans. MUDRA monitors the progress of the Pradhan Mantri Mudra Yojana scheme which aims to promote small businesses, startups and MSMEs in India.

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    MUDRA, which stands for Micro Units Development & Refinance Agency Ltd.

    , is a
    financial institution set up by Government of India for development and
    refinancing of micro units enterprises. It was announced by the Hon’ble Finance
    Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA
    is to provide funding to the non-corporate small business sector through various
    Last Mile Financial Institutions like Banks, NBFCs and MFIs.

    Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial
    products / schemes. 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 and
    also to provide a reference point for the next phase of graduation / growth to look forward to. The
    financial limit for these schemes are:-

    • a. Shishu : covering loans upto 50,000/-


    • b. Kishor : covering loans above 50,000/- and upto 5 lakh
    • c. Tarun : covering loans above 5 lakh to 10 lakh

    MUDRA’s delivery channel is conceived to be through the route of refinance primarily to


    Banks/NBFCs/MFIs.
    At the same time, there is a need to develop and expand the delivery channel at the ground level. In
    this context, there is already in existence, a large number of ‘Last Mile Financiers’ in the form of
    companies, trusts, societies, associations and other networks which are providing informal finance to
    small businesses

    Monitoring of PMMY progress at the State level will be done through SLBC forum and at National level
    by MUDRA/Department of Financial Services, Government of India. For this purpose, MUDRA has
    developed a portal, wherein the Banks and other lending institutions directly feed their achievement
    details which are consolidated by the system and reports are generated for review.

    Any Indian Citizen who has a business plan for a non-farm income generating activity such as
    manufacturing, processing, trading or service sector whose credit need is up to 10 lakh can approach
    either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY. The usual terms and conditions
    of the lending agency may have to be followed for availing of loans under PMMY. The lending rates
    are as per the RBI guidelines issued in this regard from time to time.

    Documents required
    • Duly filled application form with recent passport size photographs
    • KYC documents of the applicant, such as Passport, Aadhar card, PAN card, Voter ID card,
    Driving License, Birth Certificate, Utility Bills (Water & Electricity)
    • Proof of belonging to special categories, such as SC/ST/OBC/Minority, etc.
    • Business incorporation certificate, if applicable
    • Business address proof
    • Last 6 months’ bank statement
    • Any other document required by the Bank/NBFC

    Micro-Units Development and Refinance Agency (MUDRA) Scheme is an initiative by the


    Government of India under Pradhan Mantri Mudra Yojana (PMMY) to promote small
    businesses, startups, micro-units, and MSMEs by offering funding support with the help of
    various Banks/NBFCs to start a new business, to meet daily business requirements, for
    business expansion purposes and much more.

    The maximum loan amount offered by Banks under the MUDRA scheme is up to Rs. 10 lakh
    with a repayment tenure of up to 5 years. Applicants are not required to submit any
    collateral/security with the Bank to avail Mudra loan. Even the processing fee and foreclosure
    charges are Nil to nominal

    Achievements Under PMMY Since Inception

    FINANCIAL YEAR :2023-2024

    NO. OF PMMY LOANS SANCTIONED : ₹64856820 *

    AMOUNT SANCTIONED : ₹521603.96 CRORE *

    AMOUNT DISBURSED : ₹512928.03 CRORE *

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