Pradhan Mantri Mudra Yojana(PMMY)

Submitted by sameer on Mon, 02/03/2020 - 12:45

 

Pradhan Mantri Mudra Yojana is a Central government scheme for "funding the unfunded" by bringing such enterprises to the formal financial system and extending affordable credit to them. Prime Minister Narendra Modi launched this scheme on 8th April, 2015 . The scheme enables a small borrower to borrow from all Public Sector Banks such as

  • PSU Banks
  • Regional Rural Banks
  • Cooperative Banks
  • Private sector Banks,
  • Foreign Banks,
  • Micro Finance institutions
  • And Non Banking Finance Companies (NBFC) for loans up to Rs 10 lac for non-farm income generating activities.

Who is eligible to avail its benefit?

Mico Units Development and Refinance Agency Ltd. (MUDRA) loans under Pradhan Mantri Mudra Yojana scheme can be availed by any Indian Citizen who has a business plan for a non-farm sector income generating activity such as: -

  • a Bank
  • MFI(Micro Finance Institutions)
  • NBFC(Non Banking Finance Companies)

Mudra Vision: -

To be an integrated financial and support services provider par excellece benchmarked with global best practices and standards for the bottom of the pyramid universe for their comprehensive economic and social development.

Mudra Mission: -

To create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security.

Stages of Mudra Scheme: -

Stages Cover in (Rs) description
Shishu 50,000 This stage would include entrepreneur who are either in their primitive stage or require lesser funds in order to start their business.
Kishor 5,00,000 This stage includes entrepreneurs who belong to either those who have already started their business and want additional funds to mobilize their business.
Tarun 10,00,000 It is the highest level of amount that an entrepreneur could apply for a startup loan, if he/she meets the required eligbility conditions.

Documents required for these 3 stages: -

Stage Documents required
Shishu
  • Proof of identity -
    • Self certified copy of Voter's ID card
    • Driving License
    • PAN Card
    • Aadhar Card
    • Passport
    • Photo IDs issued by Govt. authority etc.
  • Proof of Residence -
    • Recent telephone bill
    • electricity bill
    • property tax receipt (not older than 2 months)
    • 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.
    • Applicant's Recent Photograph (2 copies) not older than 6 months.
    • Quotation of Machinery/ other items to be purchased.
    • Name of supplier/ details of machinery/ price of machinery and/or items to be purchased.
    • Proof of category
      • SC/
      • ST/
      • OBC/
      • Minority etc.
    • Address of the Business Enterprise - Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit, if any
Kishor
  1. Proof of identity -
    • Self certified 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 and Passport of Proprietor/Partners/Directors.
  3. Proof of category:
    • SC
    • ST
    • OBC
    • Minority.
  4. Proof of Identity/Address of the Business Enterprise -
    • Copies of relevant licenses
    • registration certificates
    • other documents pertaining to the ownership, identity and address of business unit.
  5. Applicant should not be 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 application.
  10. Project report (for the proposed project) containing details of technical and economic viability.
  11. Memorandum and articles of association of the company/Partnership Deed of Partners etc.
  12. In absence of third party guarantee, Asset and Liability statement from the borrower including Directors and Partners may be sought to know the net-worth.
  13. Photos (two copies) of Proprietor/ Partners/ Directors
    Tarun
    1. Proof of identity -
      • Self certified 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 and Passport of Proprietor/Partners/Directors.
    3. Proof of category:
      • SC
      • ST
      • OBC
      • Minority.
    4. Proof of Identity/Address of the Business Enterprise -
      • Copies of relevant licenses
      • registration certificates
      • other documents pertaining to the ownership, identity and address of business unit.
    5. Applicant should not be 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 application.
    10. Project report (for the proposed project) containing details of technical and economic viability.
    11. Memorandum and articles of association of the company/Partnership Deed of Partners etc.
    12. In absence of third party guarantee, Asset and Liability statement from the borrower including Directors and Partners may be sought to know the net-worth.
    13. Photos (two copies) of Proprietor/ Partners/ Directors

    Contact Information (for query): -

    Phone Number - 011-23344462
    MUDRA Mission : 011-23362129

    E-mail - missionmudra-dfs@nic.in

     

     

     

     

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