PMMY Pradhan Mantri Mudra Yojana for small business up to @ 10 lakh

PMMY Pradhan Mantri MUDRA Yojana for small business up to @10 lakh: PMMY-Pradhan Mantri Mudra Yojana is inaugurated by Pradhan Mantri Sri Narendra Modi Ji on 8th April 2015 in New Delhi. Our Prime Minister Naraendra Modi Launched this Pradhan Mantri Mudra Yojana scheme to help small Business Activities under Manufacturing, Service, Small Business and Trade. To help for this small business activities prime minister providing loans under Pradhan Mantri Mudra Yojana scheme.

Prime minister, Shri Narendra modi introduced scheme Pradhan Mantri Mudra Yojana is the best way to encourage small entrepreneurs and also help full to grow our Indian Economy. Now this Mudra yojana loans are available in some banks only but very soon all the major banks also choose this PMMY scheme because the survey tells that small entrepreneurs employ around 12 crore people, where as Big industries employ only 1 crore 25 lakh people in the nation.

What is MUDRA Yojana scheme?

MUDRA means Micro Units Development and Refinance Agency, this MUDRA bank provides loan to small business under Manufacturing, Service, Small Business and Trade. The people who have ideas to start small business facing many troubles for lending money, but now don’t worry, Here Our prime minister introduced this scheme PMMY to help you start your own business, at any sector like manufacturing, service, and Trade. These loans are divided in to three categories.

Categories under PMMY scheme:

The main motto of Pradhan Mantri Mudra Yojana scheme is “Funding the unfunded”. There are so many people who have not enough money to implement their thoughts, and they were searching for people who lend money for their small business, In India 6 crore people are self employed. by providing loans this Mudra banks giving encouragement for that entrepreneurs and help to grow Indian economy. So Mudra helps to increase employment opportunities in the nation.

PMMY Pradhan Mantri MUDRA Yojana scheme is divided in to three categories
1) Shishu
2) Kishore
3) Tarun

1) Shishu: Shishu is for very small start up business. In this Shishu category you can get loan up to Rs.50, 000/-
2) kishore: In Kishore category you can get loan above Rs.50,000/- to Rs.5,00,000/- .
3) Tarun: In Tarun category you can get loan above Rs.5, 00,000/- to Rs.10, 00,000/- .

Key features of PMMY scheme:

1) No Security for repayment of loan is required for shishu category.
2) No processing fee required for shishu category.
3) For shishu category the rate of interest is just 1% per month.
4) Period of repayable time is for 5 years.
5) Through mudra cards the working capital loans will be given.

For more details about this PMMY loans please contact nearest branch.

Click here for official notification of PMMY scheme

Click here for PMMY loan Application form