PRADHAN MANTRI MUDRA YOJANA (PMMY)

The Pradhan Mantri Mudra Yojana (MUDRA) has been launched by the Hon’ble Prime Minister on 8th April, 2015 to provide loans to Micro Enterprises /units those are in manufacturing, trading and Services sector including allied agricultural activities with credit limits of up to Rs.10 Lakhs.


There are 3 categories under this scheme based on the quantum of finance.

Category Amount of Loan

SHISHU

Up to Rs 50,000/-

KISHORE

Rs 50,001/- to Rs 5,00,000/-

TARUN

Rs 5,00,001/- to Rs 10,00,000/-


FEATURES OF MUDRA YOJANA (SCHEME)

ELIGIBILITY

Borrower should be residing in the same locality at least for the last two years.

Borrower should not be a defaulter to any financial institution.

Borrowers having some training experiences viz. RSETI will be preferred.

MARGIN

Loan up to Rs 50,000/- NIL

Loan above Rs 50,000/- up to Rs 10 Lakhs - 10%

REPAYMENT

TL/OD with reducing limit : Maximum 5 years including moratorium of up to 2/3/6 months depending on the business sector

CC : on demand

SECURITY

Hypothecation of asset created out of Bank's finance

Collateral Security: NIL

Loans to be covered under Credit Guarantee Fund for Micro Units (CGFMU). Premium cost to be borne by the borrower.

PROCESSING FEES

Loan up to Rs 5 lakh to MSE - NIL

Loan above Rs 5 lakh - 0.50% of Loan amount

INTEREST

One year MCLR+275 bps- present effective rate 11% p.a.(One year MCLR 8.25 % w.e.f. 01.08.2018)

OTHER BENEFITS

Co-branded RUPAY debit cards named as MUDRA CARD is provided to the borrowers financed under MUDRA loan

MUDRA CARD can be used at ATM and POS

Cash withdrawals and PoS transactions limit under three categories of MUDRA CARDS

Particulars SHISHU KISHORE TARUN

Daily Cash withdrawal limits

10,000

15,000

20,000

Daily POS Limit

15,000

25,000

30,000

The annual Maintenance charges of MUDRA CARDS will be similar to the charges of State Bank ATM cum Debit Cards (Classic).

HOW TO APPLY FOR MUDRA LOAN

Duly filled Pradhan Mantri MUDRA Yojana (PMMY) loan application form is to be submitted to SBI branch with copies of required documents.

FREQUENTLY ASKED QUESTION

Q. What is MUDRA?

MUDRA stands for “Micro Units Development and Refinance Agency” and act as a new financial entity for developing and Refinancing financial intermediaries like Bank, NBFCs, MFIs, who are in the business of lending to smaller of the Micro enterprises in Manufacturing, Trading and Services sector including allied agricultural activities.


Q. When was MUDRA scheme launched?

The Micro Units Development and Refinance Agency (MUDRA) has been launched by Hon’ble Prime Minister on 08.04.2015


Q. Is the overdraft facility of up to Rs 5000/ covered in MUDRA scheme?

Yes, Overdraft facility of Rs. 5000/-sanctioned under Pradhan Mantri Jan Dhan Yojana (PMJDY) is also considered as MUDRA loans under PMMY.


Q. Are all the loans are covered under Credit Guarantee Scheme?

All eligible PMMY loans are covered under Credit Guarantee Fund for Micro Units (CGFMU). (All MSE loans under Manufacturing /Services sector including retail trade and loans for allied agricultural activities are eligible to be covered under the credit guarantee fund.


Q. Is all the MUDRA A/c holders eligible for MUDRA Cards?

YES, All CC/OD Accounts (MUDRA Loans) are eligible for issuance of MUDRA CARDS.

Mudra Check list & Performance