Oct 082015
 

Mudra loan for sc, st and obc

“If you give a fish to a man, he will eat it for a day, but, if you teach him to fish, he will never get hungry”. The Pradhan Mantri Mudra Yojana is also following the same process. It is not only giving upliftment to the poor sector but also providing expert suggestions so that they should come across minimum risk and loss. In the last budget list, Mr. Arun Jaitley, the Finance Minister of India announced to propose a Micro Units Development Agency, which is also known as the MUDRA Bank. In the month of April, Prime Minister Narendra Modi finally decided to launch the program and loans are being offered to those who are in great need who cannot avail the basic banking facilities.

There is a new scheme Stand Up India launched by PM Modi for providing Loan for SC ST and Women.

Since then, there are several banks who are offering loans under the PMMY schemes for setting up small and micro business. It is estimated that Rs. 1.22 lakh crore will be disbursed under the scheme at the end of the year.

How to avail loans under the Pradhan Mantri Mudra Yojana Scheme

The Mudra Bank Loan is a whole new concept as of now. So, it is not a banker as a whole. But, in the future, it will definitely be a good banking service providing loans to the backward and poor sectors of our nation. Currently, the main service that is being offered is the re-financial services.

Now, the question arises, how to avail the loan?

  • The borrower will simply approach to his nearest lending institution in his region. It may be a scheduled commercial bank for both public and private, regional rural bank, scheduled urban co-operative bank or a micro financial institution.
  • There he will find several schemes.
  • In case if he finds difficulties in choosing those schemes, there are certain agents who will guide them in choosing what scheme will best fit for their business.
  • Now he has to apply for the loan and soon he will get whatever he has applied.

It may be a general question that why these banks will lend loans to these small business institutions, where there are chances of getting no returns? Well, the government will take the responsibility along with the borrower. Both of them will share a 50-50 liability towards the loan that the borrower has taken. The government will provide a subsidy to the borrower so that he can get his interests cleared over a period of time.

17 private sector banks, 27 public sector banks, 25 micro financial institutions and 27 regional rural banks have approved the schemes under the PMMY. These banks will be channelizing loans and they will provide it to the end borrower.

Types of loan under the PMMY

As of now, there are three schemes namely

  • The shishu scheme– Offering loan up to Rs. 50,000. In other words, it is also termed as a startup loan.
  • The kishor scheme– Offering loan above Rs. 50,000 to Rs. 5 lakh. It is also stated as the mid- level business institution setup loan.
  • The tarun scheme– Offering loan above Rs. 50,000 to Rs. 10 lakh. This is meant for those who wants to set up a business in a bigger and advanced level.
  • Stand Up India Loan :- From Rs 10 Laks to Rs 100 Lakhs (only for SC St and Women)

Key features of the Stand Up India Loan Scheme.

The key features are much delighting and any small or micro-institution will definitely find these features much better than any other features offered by other schemes.

These include-

  • No collateral is necessary.
  • There are zero processing fees.
  • The rate of interest is only 1% per month.
  • The maximum period of repaying the loan has been extended up to 5 years.
  • Mudra cards have been launched that will provide working capital loans.

Loan for sc, st and Women | Stand Up India Scheme

For those belonging to sc, st and obc, there are some special relaxations and benefits. Checklists for borrowing loan for sc, st and obc-

  • Proof of identity with self-attested. It may be voter card, driving license, passport or aadhar card.
  • Residential proof, which will include electricity bill, water bill, recent telephone bill, bank statement or passport.
  • Passport size photographs (2 copies).
  • Lump-sum quotations of machinery that the borrower will need in order to set up his business.
  • Details of machinery, the name of the supplier, items in the list that are to be purchased, the cost of machinery, everything with every detail should be mentioned.
  • Any ownership identity, which will include the certificate of license.
  • Most important, a certificate of proof regarding sc/st or obc.
  • Other Article

  30 Responses to “Mudra loan for sc, st and obc”

  1. Do i need to give security for Applyng this Bank loan

    • Dear sir
      I M FROM ALLAHABAD U.P. ,I belong to s. c. hela caste , I m graduate. I want a training before starting a industry.
      I want to start a industry by availing bank loan but I have no margin money so I want to know that can I get the loan of 10 to 20 lacs without margin moneye? awaiting for ur answer

  2. i don’t have any property. so .am i eligible for sishu loan

  3. Sir I am planning to start a laundry industry with and investment of 9 lacs.
    1.Will mudra provide susidy on the machinery?
    2.How long will the process take generally?

  4. I would like to open a restaurant. It would cost around 10 lakh. I am SC from Mirzapur Distt. (UP). How could i get the loan?

  5. Dear respected p.m. sir,
    I am Shobha yadav a citizen of meerut,u.p. sir my husband is paralised and the situation of my family is economically very serious and I have a fashion tech certificate with me and I want loan for expanding my small interest.

  6. Sir i belong to general caste(the poor one) i want to start my own business but due to lack of investment i am unable.So my question is that is there any loan facility available for me?

  7. Team mudra
    Sab bakwas yojnaya h start up , stand up ya pm mudra yojna sirf pmo papers par he h jab bank jatd h to pata chalta h paper work he itna batate h bankers Ki itne papers par to koi bhi bank loan provide kar dega pm Sahab ne kon Sa teer mar Diya h 50000 tk ka loan bhi bankers nahi de raha h m khud kitni baaf bank ja chuka Hu answer Mila tha pm Sahab se he le lo jinhone scheme shuru Ki h

  8. sir,
    I m a Muslim and I m in very stress to survive. can I apply for mudra loan if no then suggest me the right path.
    thanking you

  9. I have a Ladies Designer Workshop. and have employed 3 people. what too Increase my Business online through Online Sales and looking for New Machineries. have my Lat 3 years ITR. filled. Can i get a loan of 7.5 lac under PMMY Scheme.

  10. I have a Small Civil works Business. I do hire Daily wages Labour daily. Due too insufficient Funds I am not able too take BIG PROJECTS. I to Fill my ITR on regular Basis and even pay TDS. Kindly please guide me if I ma applicable for a loan of 10 lac. And If Yes HOw can i avail. My Banker is Co.op. Bank Named Jan Kalyan Co.Op. Bank ltd.

  11. i am a fashion designer and i want to set up my own production house.i want to know how i will be get benifit from standup india loan scheme.

  12. sir, this is Deepika….living incoimbatore,tamilnadu.,..i plan for start small business like textiles and stationarys …..need arond 3 lakh …….am obc category …..am eligible for this loan…,.

  13. i would like to open a rabbit farm in jhansi up. for that i have a leased land and it’s project cost is near 10 lakh but i don’t have any collateral can bank help me. I am from SC community.

  14. Hi ,sir this santhosh from karimnagar.
    I have try to loan in karimnagar all bank. Banks said any gurrenty I will the loan and some banks telling this not my area go ur area banks am not giving the loan directly saying. Some banks giving this loan only relationship with Bank employees (person)given the loan .Totally this scheme not reached to hard work and perfect person .but 50,000 /_ loan is giving some people like that this type problem started that time am giving the loan right person like example so and so tell this person .Than bank employees easily excped automatically. Please who are eligible this loan and who really ask the loan surway and give me and please response the each and every person come to the bank .every person is bank customer.

  15. Sir
    I wanted to invest in Dispossable paper product manufracturing industry to replace the plastic & thermocol production to save the earth from polution.
    Is it started in maharastra as well?

    Thanks
    Bhagwant Rodge

  16. Sir i am sc and planning to set up laundry…where to contact sir..nearby bank is not co operating..pls help..he is asking for security like lic bond to lend loan ..this is simply mis guiding people ..not giving loans to any one..only advertising and taking name

  17. Respected PM sir, l am from Bijnor distt. ( up) . sir in our city all nationalized bank not interested in mudra loan with out security and guaranter. I need 10lack for new bussines. What i do?

  18. Dear Sir/Madam,

    I belong to SC category & aged of 35 I like to know about if there are any restriction for availing loan for trading & retailing business.

    can we apply loan for other then manufacturing purposes since we run shop & want to expand it further

    • Sir
      I would like to start a online grocery store in a particular metro city, around 10 to 15 laks cost for its setup. I belonging to OBC category. Can I get startup loan from MUDRA scheme

  19. why not give loan for MBC category…the Category wise loan given is affected for me…please give loan for all cast and religion..

  20. I belong to sc caste .I complete my post gradute and i want to complete the course of related banking and also start the tuition centre.plz give me loan for this purpose

  21. I want circular of startup india immediately…..plzzz kindly request u to send on my email……please do as soon as possible

  22. I am from chandigarh, i want to start my own trading business of alkali e R.O water machines, it will cost upto 25 lacs. Is it possible that bank will give me .lan under the scheme, without any security. in case if it is possible i will return whole amount of bank within 5 years. thanks pls reply

  23. Hello sir ,
    I am from varanasi and I have a small wholesale business of lingeries and I want to start my own brand into this with my experience …..but when I visit to my bank they are not providing me the information about the mudra yojna ..kindly help me out to get loan under pm mudra yojna so I can build my business around the up and up east ..
    Thank you
    Sir

  24. Sir,
    I want to start a paper plate industry and I m obc women. I needed Rs. 30 lakhs under the stand up India scheme .pls tell me the procedure. Thank you..

  25. Sir,
    I started a new company in Power controls field, I am in SC, I am seeking a loan around 10lakhs for business expansion. May be My CIBIL score is very low, So any problem to apply the loan,

  26. Sir
    I am in sc cast I thinking start woodwork shop I have all document for apply but I don’t know wich bank to apply this yojna please help me

  27. sir,
    I belongs to sc category and i am mba graduate.i want to start my clothing brand so can i get the loan upto 20 lacs.so that i can create the jobs and can beat the foreign companies.

    thnks.

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