Wednesday, March 23, 2016

Benefits of Mudra Bank - How to Take Loan From Mudra Bank

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Guide for How to take Loan From Mudra Bank, Benefits of Mudra Bank and everything About Mudra Bank. Prime Minister Narendra Modi Launched Mudra Bank, to provide Loan up to Rs.10 lakh to small business (small and medium scale entrepreneurs). With this Mudra Bank, Almost 5.75 crore Small Business units will get loan up to Rs.10 lakh.

Benefits of Mudra Bank - How to Take Loan From Mudra Bank

Benefits of Mudra Bank
Update :- On March, 2016 3,11,54,560 people has got loan Sanctioned under Mudra Bank Yojana for business. Amount Sanctioned Rs.122081.78 Crore and Amount Disbursed Rs. 115915.16 Crore. 

Update :-  An increased allocation of Rs 1,80,000 Crore (from 1 Lac crore) under PM MUDRA Yojana. (announced in Union Budget 2016)

Pradhan Mantri Micro Units Development and Refinance Agency Ltd (MUDRA) Yojana (Full form of Mudra Bank), bank with a corpus of Rs 20,000 crore to extend credit of up to Rs 10 lakh to small businesses and 'Micro-Finance Institutions' (MFIs). With concept of "Funding the Unfunded," Mudra Bank will provide Loan in 3 categories.

Benefits of Mudra Bank

- Providing Low cost funding for MFI (micro finance institutes). Priority for SC/STs in Lending.

- It will increase liquidity and Access for funds for Small scale business.

- By combining their integrity with capital (MUDRA), it would become the key to their success – पूंजी सफलता की कुंजी.

- Uniformity in regulations and best practices for the SHG Bank linkage programme, NBFC-MFIs, and trusts/societies/not for profit NBFCs/Section 25 companies engaging in MFI activities as MUDRA Bank would be the sole regulator for all players in the MFI sector.

How to apply for Loan from Mudra bank?

Mudra Bank is new financial scheme of Government of India, it is called Pradhan Mantri Micro Units Development and Refinance Agency Ltd (MUDRA) Yojana.

- To take loan from Mudra Bank, you need to first give proposal Business Plan.
- On which category your business lies in? Mudra Bank Provides loan in 3 categories, Shishu/Kishor/Tarun.

- Shishu (child Category), if you have just started small business then you will get loan cover up to Rs.50,000/-.

- Kishor Category, if you have set your business then you will get Rs 50,000 to Rs 5 lakh of loan cover from Mudra bank.

- Tarun Category, if you have good established business, need more fund to raise business, then you will get loan cover up to Rs.10 lakh. 

- After You prepare your business plan and you select your business categories (as mentioned above), you have to contact your nearest Public or Private bank where you can apply for Business loan under PRADHAN MANTRI MUDRA YOJANA.

Note :- As some users got confused, mudra bank is not a separate bank (like SBI or BOB) it is government's finance scheme to provide business loan to new small business in india. To get business loan under Mudra Yojana, you have to contact your nearest public/private bank.

Mudra Card :-

After your loan has been sanctioned from Mudra Yojana, you will get MUDRA CARD, a card like credit card which you can use to buy your business raw material etc. Mudra Card's Limit will be 10% of your business loan (subject to Rs.10000 maximum).

To apply for Loan from Mudra Bank Please follow the below link where you will get all information about how to apply, eligibility criteria, who can get loan, what documents need to be presented to get loan from Mudra Bank, All questions are answered on below link.

Click on this link to check Eligibility Criteria of Mudra Bank :- http://www.mudra.org.in/eligibility-criteria.pdf.

Contact Person (state wise) Model Officer :- http://www.mudra.org.in/Nodal-Officers-MUDRA.pdf  .

Official Website of Mudra Bank :- http://www.mudra.org.in/

Visit the official link to get all information like Objectives, Vision, FAQs related to Mudra Bank are answered on official website in detail.

Finalize your business plan and decide how much funds you will require, give proper presentation to Mudra bank and funds.

Key Objectives of Mudra Bank

Key Objectives of Mudra Bank


Update :- Corporation Bank has launched MUDRA Card (in association with Government of India) which is based on Rupay Debit Card. The MUDRA card facilitates withdrawal and use of the working capital finance by micro entrepreneurs.  

Update :- Do check out how Mudra Bank helping Indian Economy, how mudra bank boosting indian business world, here

Update :- With in 7 months of span, Mudra Bank has been a great success. 68 Lakh+ Loans has been sanctioned which termed in Rs.47,685cr. (source)

Have a Happy Business :).

Last Updated on :-23rd March, 2016.

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