Are you searching for PM Mudra Loan Yojana? how to apply for PM Mudra Loan Yojana form @ Official Website here we will give information on how to fill the પીએમ મુદ્રા લોન યોજના. PM Mudra Loan Yojana facilitates micro-credit/loan up to ₹10 Lakh to non-corporate, non-farm small/micro enterprises and provides the benefit of collateral-free loans.
About PM Mudra Loan Yojana
The Pradhan Mantri Mudra Yojana (PMMY) is a flagship initiative launched by the Government of India on April 8, 2015. The scheme’s primary goal is to fund the unfunded by providing easy and affordable credit to micro and small enterprises (MSEs) in the non-corporate, non-farm sector. The MUDRA Loan is extended through various Member Lending Institutions (MLIs) like Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, Micro Finance Institutions (MFIs), and Non-Banking Financial Companies (NBFCs). The loan product is categorized into three types: Shishu, Kishor, and Tarun, to signify the stage of growth and funding needs of the beneficiary unit
Overview Table: Key Details of PM Mudra Loan Yojana
| Detail | Description |
| Scheme Name | Pradhan Mantri Mudra Yojana (PMMY) |
| Ministry | Ministry of Finance, Government of India |
| Main Benefit | Collateral-free loans up to ₹10 Lakh for micro/small enterprises |
| Application Mode | Online (via Udyami Mitra portal/JanSamarth) and Offline (via MLI branches) |
| Income Limit | Not a strict income limit; aimed at non-farm income-generating enterprises |
| Official Website | Official Website |
Purpose and Objectives of PM Mudra Loan Yojana
The core purpose of the PM Mudra Loan Yojana is to financially empower the millions of small entrepreneurs in the country who lack access to formal credit channels.
- Financial Inclusion: To bring non-corporate, small businesses into the formal financial system.
- Generate Employment: By supporting micro and small enterprises in sectors like manufacturing, trading, and services, the scheme aims to boost employment generation.
- Fund the Unfunded: To provide financial assistance to those who are currently unable to avail credit from banks due to lack of collateral or formal credit history.
- Scale up Businesses: To support the development and growth of micro-units by providing phased funding under the Shishu, Kishor, and Tarun categories.
Key Benefits of PM Mudra Loan Yojana
The Mudra Loan offers several distinct advantages for small entrepreneurs:
- Collateral-Free Loan: The most significant benefit is the provision of loans without requiring any collateral or third-party guarantee, a major barrier for small businesses.
- Affordable Interest Rates: Mudra Loans are offered at reasonable interest rates as per the internal guidelines of the MLIs, which are often competitive compared to non-institutional sources.
- Flexible Categories: The loans are structured into three categories to meet varying business needs:
- Shishu: Loans up to ₹50,000 (For start-ups/nascent businesses).
- Kishor: Loans from ₹50,001 to ₹5 Lakh (For established units needing funds to expand).
- Tarun: Loans from ₹5 Lakh to ₹10 Lakh (For expansion and further growth of established businesses).
- Mudra Card: Beneficiaries receive a Mudra Card (a debit card) for working capital requirements in the nature of an overdraft, which helps in efficient fund management.
Eligibility Criteria for PM Mudra Loan Yojana
To avail a loan under the PM Mudra Loan Yojana (PMMY), applicants must meet the following criteria:
- The applicant must be an Indian Citizen.
- The applicant must have a business plan for a non-farm sector income-generating activity, such as manufacturing, trading, or services. Activities allied to agriculture (like pisciculture, beekeeping, etc., excluding crop loans) are also eligible.
- The maximum credit need of the business must be up to ₹10 Lakh.
- The applicant should not be a defaulter to any bank or financial institution.
- Both individuals and entities such as Proprietary Concerns, Partnership Firms, Private Limited Companies, Public Companies, and other legal forms are eligible.
Documents Required for PM Mudra Loan Yojana Application
While exact requirements may vary slightly by the lending institution, the general list of documents required for a Mudra Loan application typically includes:
- Duly filled MUDRA Loan Application Form and relevant annexures.
- Applicant’s recent photograph (2 copies).
- Identity Proof (e.g., Aadhar Card, Voter ID Card, PAN Card, Passport).
- Address Proof (e.g., Aadhar Card, Utility Bills not older than 2 months, Voter ID).
- Proof of SC/ST/OBC status, if applicable.
- Proof of Business existence and address (e.g., Shop Act License, Utility Bill of the business unit).
- Quotation of Machinery or other items to be purchased (especially for Shishu loans).
- Business Bank Account Statement (for the last 6-12 months).
- Sales/Income Tax Returns (ITR) details (may be required, especially for Kishor and Tarun categories).
How to Apply Online for PM Mudra Loan Yojana
The process to apply online for the PM Mudra Loan Yojana is straightforward and can be initiated through the official government platforms:
- Visit the official website: Go to the JanSamarth portal or the Udyami Mitra portal.
- Select the Loan Category: Choose the specific loan category: Shishu, Kishor, or Tarun, based on your requirement.
- Check Eligibility: Use the portal to check your eligibility by answering a few questions about your business.
- Complete the Registration: Register and login to the platform.
- Fill the Application Form: Fill in the online application form with accurate business and personal details.
- Upload Documents: Scan and upload all the required documents (KYC, business proof, etc.).
- Select a Lender: The portal will match you with eligible MLIs (banks/NBFCs) based on your profile and location. Select your preferred lender.
- Submit: Submit the final online application. The selected bank/NBFC will then process your application further.
Checking PM Mudra Loan Yojana Application Status
You can typically check your PM Mudra Loan Yojana Application Status in one of two ways:
- Online Portal: If you applied through the Udyami Mitra or JanSamarth portal, you can login to your account and track the status of your submitted application using the unique reference number.
- Lender Branch/Website: If you applied directly at a bank/NBFC branch or through their specific online portal, you must contact that particular lending institution or check their application status tracker tool (if available) using your application reference number.
Online Registration Process for PM Mudra Loan Yojana
The online registration process for new borrowers usually involves signing up on a government-linked portal like Udyami Mitra or JanSamarth:
- New User Registration: Click on the ‘Register’ or ‘New User’ option on the portal.
- Enter Details: Provide your mobile number, email ID, and desired password.
- OTP Verification: Verify your mobile number using the One-Time Password (OTP) sent to your phone.
- Aadhaar/PAN Details: Enter your Aadhaar and PAN details as required for KYC and eligibility checks.
- Create Profile: Set up your borrower profile, which will allow you to access and fill out the detailed MUDRA Loan application form.
Applicant Login Portal for PM Mudra Loan Yojana
The primary applicant login for tracking applications, completing profiles, and accessing scheme services is available on the government-backed portals:
- Udyami Mitra Portal: This is a crucial platform for potential and existing borrowers. Use your registered mobile number and password to login and access services related to PM Mudra Loan Yojana.
- JanSamarth Portal: If the application was initiated here, the login credentials created during the initial registration process are used to check the Application Status and correspond with lenders.
Contact Details and Helpline
For assistance and queries regarding the PM Mudra Loan Yojana, applicants can use the following channels:
| Contact Detail Type | Information |
| Official Website | Official Website |
| Mudra Ltd. Office | Contact details are available on the official website. |
| Lender/Bank | Contact the specific branch or relationship manager of the Public/Private Sector Bank, RRB, or MFI where you are applying or have already applied. |
| Udyami Mitra Helpline | Dedicated helplines are often available on the Udyami Mitra portal for technical support and scheme guidance. |
FAQ (Frequently Asked Questions) about PM Mudra Loan Yojana
Q1. What is the maximum loan amount under PM Mudra Loan Yojana?
The maximum loan amount that can be sanctioned under the Tarun category of the PM Mudra Loan Yojana is ₹10 Lakh.
Q2. Is collateral or security required for a Mudra Loan?
No, the Mudra Loan is essentially a collateral-free loan. It is covered under the Credit Guarantee Fund for Micro Units (CGFMU).
Q3. Who is eligible for the Shishu category loan?
The Shishu category, which covers loans up to ₹50,000, is primarily aimed at entrepreneurs who are either in the nascent stages of their business or are looking to start a new micro-enterprise.
Q4. Can I apply for a Mudra Loan if I have an existing business loan?
Yes, an existing business unit can apply for a Mudra Loan for its expansion, modernization, or working capital needs, provided they meet all other eligibility criteria and have a satisfactory credit track record.
Conclusion
The PM Mudra Loan Yojana (PMMY) stands as a vital government scheme dedicated to fostering entrepreneurship and job creation in the non-corporate small business sector. By offering collateral-free financial assistance up to ₹10 Lakh through its Shishu, Kishor, and Tarun categories, it effectively addresses the persistent challenge of accessing formal credit. Entrepreneurs seeking to start or expand their ventures should utilize the online registration and application facilities provided via the official portals to secure the necessary funding and contribute to the nation’s economic growth.