Dec 252015
 

Is There any Last Date For Mudra Loan Scheme

The main motto of this scheme is to help the small micro businesses and entrepreneurships to survive and grow by providing them, loans and other financial support. India has numerous small and medium sized businesses which are currently under lot of hardship. They struggle so as to keep pace with the current market, dominated by big players, mostly global ones.

These micro industries do not have a big capital or property so that it will provide financial loans from the banks. Many micro and small scale industries have shut down in India due to lack of productivity and not being able to keep pace with the current market factors. Under this Yojana, Micro Units Development and Refinery Agency Bank or MUDRA Banks will be set up which will provide loans and credit to numerous entrepreneur and micro units, which do not have access to normal banks. The Govt. is aiming to spend Rs. 20,000 crore for this project in the project of financial growth of common mass, also termed as Jan Dhan Yojana.

To avail MUDRA loan, one has to approach any Commercial Private/ Public Banks, Rural Banks, Co- Operative Banks or the Micro Financial Institutes (MFI) and apply for the Pradhan Mantri Mudra Yojana. There are three groups under which loan will be provided by these institutions depending on the amount of credit required by the micro unit/ applicant. The first segment is SISHU which will provide MUDRA loan up to Rs. 50,000. This is the starter range of MUDRA loan which will give the loan at a deducted interest rate of 1% per month.

The second segment is KISHOR under which financial help can be arranged from the range of Rs. 50,000 to Rs. 5 lakh. And the third segment which will provide credit from Rs. 5 lakh and up to Rs. 10 lakh is named TARUN. There are many facilities of MUDRA loan. The interest rates are quite low, compared to other loan schemes in the market. It is totally Govt. owned and designed policy so completely safe and clean. The loan repayment period is very flexible and one can repay them for long time.

This loan will be given in form of MUDRA cards which is a type of credit card, in partnership with RuPay. It will have set credit limit as per requirement. One will receive this card after successful joining in the scheme and grant of loan. He/ She can use this amount to purchase new machineries or develop better infrastructure in the business. The entire registration process is kept very simple and user friendly. There is no such last date as of now to register for the Mudra Loan scheme. This is an active scheme currently and is having a huge success among the micro units, entrepreneurs and small industries to flourish and grow.

  10 Responses to “Is There any Last Date For Mudra Loan Scheme”

  1. Sir, kya mudra loan private job krne wale ko mil skta hai kya?

  2. respected sir
    sir i want to start a small business but due to lac money i can not start . Bank also don`t provide sufficient information . sir i need financial help if i get financial through MUDRA BANK i start my business.

  3. I started bussiness of manufacturing Tiles and Pavers since 2004, I want mundra loan Rs 10 Lakhs ,for better growing business,my factory address is Uttam Tiles And Pavers ,J -46 ,phase 3 MIDC ,AKOLA (Maharashtra)

  4. No information about mudra yojana loan in banks.

  5. Sir last date to apply for is given 25/12/2015
    But sir i dont know about this scheme can i apply
    Today (date 04/01/2016)

  6. Dear Sir,

    This scheme seems a big advertisement and nothing on ground. 3 of Pvt banks in my town gandhidham are saying that MUDRA yojana has not been activated in their gandhidham branch : 1) ICICI BANK (2) INDUSIND BANK (3) KOTAK MAHINDRA BANK.

    – Dena bank says this loan requires collateral to be given otherwise applicant is not eligible for this loan.

    – Executives and assistant manager of HDFC BANK and AXIS BANK say that their bank is not interested in giving unsecured loans without collateral and that they dont want to participate in MUDRA yojana, they’re forced to participate.

    – SBI, banking circle branch says collateral is compulsory for MUDRA loans.

    – Corporation bank’s branch manager gives number of a consultant and says he suggests me to apply through him so that he can provide documents in a way bank can understand. I had approached him with a business plan, Income tax returns of 3 years and bank statement of last 6 months. Now the consultant is saying bank has achieved its target of MUDRA loans and is not interested in giving loan.

  7. If I get a Tarun Mudra Loan of 5 to 1o Lakh can start a business…please confirm if possible my date of birth is 19 Jan 1958….I have a sole proprietorship firm namely “Comet Enterprise (India)…..established in 1995…have IEC No also….my website can reveal all this…..if get Mudra Loan …..will launch a new Website.

    Regards,

    M A Billa

  8. respected sir, i want a loan for the start my business ,can i get now i dont know about this scheam before.date-27-01-2016. PLEASE REPLAY

  9. sir,I tried very much to get a mudra loan to increase my small shops but the bank like vijoya,overseas,sbietc said that they have completed their target so could not give loan,is it true or they did not want to give loan to small business man,please help us

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