Pradhan Mantri Mudra Yojana | PMMY Application Form | Mudra Loan

Pradhan Mantri Mudra Yojana | Pradhan Mantri Mudra Yojana Online Application | PM Mudra Loan Yojana Online Registration | PM Mudra Loan Yojana Form

Under the Prime Minister’s Mudra Yojana, it is helping entrepreneurs in the country to provide bank loans at concessional rates to start their own industry. Pradhan Mantri Mudra Yojana was launched by our country’s Pradhan Mantri Narendra Modi on April 8, 2015. Any interested beneficiary who wants to start his own industry and take a loan from the bank to take the bank forward can apply under the beneficiary Pradhan Mantri Mudra Yojana. Today, we are going to share with you all the information about this Yojana like the registration process, documents, eligibility, application, etc.

Pradhan Mantri Mudra Yojana 2021

Under the Pradhan Mantri Mudra Yojana the beneficiaries who want to start their own business and pursue the business, the Central Government Mudra Loan is providing loans up to Rs. Pradhan Mantri Mudra Yojana is classified into three-run child loans, juvenile loans, youth loans. Under Yojana, the government has covered 18.87 crore beneficiaries till March 2019 and has so far allocated Rs 9.27 lakh crore under Yojana.

Pradhan Mantri Mudra Yojana Loans Disbursed So Far

On November 26, 2020, Union Minister Smriti Irani informed Pradhan Mantri Mudra Yojana that an investment of up to Rs. Smriti Irani Ji also informed that since 2016, more than 32,000 start-ups have been recognized in the country. He also said that the poor used to have difficulty in getting banking loans and facilities but now under Pradhan Mantri Mudra Yojana, they can easily get loans to start or pursue their enterprise. This scheme will make it easier to do business.

Pradhan Mantri Mudra Yojana was launched by our country’s Pradhan Mantri Narendra Modi on 8Th April 2015. 10 lakhs in non-corporate, non-agricultural small, micro industry. These loans are provided by commercial banks, regional rural banks, small finance banks, cooperative banks, micro finance institutions, and non-banking financial companies.

Brief Summary of PMMY 2021

Scheme Name Pradhan Mantri Mudra Loan Yojana
Launched By Narendra Modi
Scheme Start Date The year 2015
Nodal Agency Micro Units Development and Refinance Agency
Beneficiary Small and Medium Entrepreneurial Startups
Goal Empower
Loan Amount Up to Rs 10 lakh
Application Mode Offline
Start Filling Application Form Available Now
Type of Scheme Central Govt. Scheme
Launched By https://www.mudra.org.in/

Purpose of Pradhan Mantri Mudra Yojana

The people of our country who want to start their own industry but are unable to start industries due to financial constraints, provide financial assistance by the government of India bank by providing loans up to 10 and making the beneficiaries self-reliant through Pradhan Mantri Mudra Yojana and empowering the beneficiaries. The beneficiaries are to be encouraged to start the industry by providing proper capital through this Yojana.

Pradhan Mantri Mudra Yojana New Updates

As you all know, our country has been locked down for a long time due to the global epidemic of coronavirus. The lockdown has greatly affected the economic condition of the people of the country. It is with this in mind that our Finance Minister Nirmala Sitharaman Ji announced the Self Reliant India Campaign on 14th May 2020. Under the Self Reliant India Campaign, financial assistance of 2% will be provided to all those who have taken child loans under Pradhan Mantri Mudra Yojana for 12 months in the amount of interest.

PMMY 2021

Applicants applying under this Yojana should be 18 years of age or above. Before the introduction of this Yojana in our country, entrepreneurs had to go around banks to get loans to start their own business and face a lot of difficulties and could not get loans without a guarantee, but now under PMMY 2021, all entrepreneurs will be able to get loans up to Rs. 10 lakhs easily by the bank| The money loans are provided by Commercial Bank, RRBS, Small Finance Bank, Co-operative Bank, MFI. There is no fixed interest rate under Pradhan Mantri Mudra Yojana. The main interest rate is 12%.

Mudra Loan Types

  • Child Loan – 50,000/- will be given by the bank under the Child Loan.
  • Teen Loans – 50,000 to Rs 5 lakh will be given by the bank under the Teen loan.
  • Young Loans – Under a young loan, loans ranging from Rs 5 lakh to Rs 10 lakh will be given by the bank.

The Beneficiary of PMMY 2021

Year No of Beneficiary Amount
2015-16  3.48 crores 1. 37 lakh crore
2016-17  3.97 crores 1.80 lakh crore
2017-18  4.81 crores 2.53 lakh crore
2018-19  5.98 crores 3.21 lakh crore
2019-20 64.12 lakh 34602.7 crore
Total 18.87 crores 9.27 lakh crore

Benefits of Pradhan Mantri Mudra Yojana

  • The benefits of Pradhan Mantri Mudra Yojana will be extended to the entrepreneurs of the country.
  • It is helping entrepreneurs in the country to provide bank loans at concessional rates to start their own industry.
  • Under the Pradhan Mantri Mudra Yojana, the Central Government is providing loans up to Rs.
  • You will not have to pay any guarantee to take a loan under Pradhan Mantri Mudra Yojana.
  • Through Pradhan Mantri Mudra Yojana, the people of the country can start their own businesses by getting loans from the government.

Important Documents of Pradhan Mantri Mudra Yojana

  • The age of the applicant applying should not be less than 18 years.
  • Aadhar Card
  • Applicant’s identity card
  • Driving license, pan card
  • Voter ID Card
  • Previous years balance sheet
  • Sales tax return income tax return
  • Postal address
  • Mobile number
  • Bank account

Features of Pradhan Mantri Mudra Yojana

  • Pradhan Mantri Mudra Yojana was launched by our country’s Pradhan Mantri Narendra Modi Ji on 8th April 2015.
  • Loans up to ₹1000000 are provided to non-corporate, non-farm small/micro enterprises through Pradhan Mantri Mudra Yojana.
  • Loans provided under Pradhan Mantri Mudra Yojana are called mudra loans.
  • These loans are provided by Commercial Bank, Small Finance Bank, Non Banking Financial Institution, etc.
  • Under Pradhan Mantri Mudra Yojana, three types of loans are provided which are infant, adolescent, and young loans.
  • Under Child Loan, loans up to ₹50000 are provided.
  • Under Teen Loans, loans ranging from ₹50000 to ₹500000 are provided.
  • Under Young Loans, loans ranging from ₹500000 to ₹1000000 are provided.

Activities to provide loans

Under Pradhan Mantri Mudra Yojana, Mudra Loan is given to generate income and employment. This loan is provided for the following activities:

  • Businesses loans for the vendors, and traders, and shopkeepers, and others much more service sector activities.
  • Working capital loan through currency card.
  • Equipment finance for micro units.
  • Transport vehicle loans for commercial use only.
  • Agricultural Relations Loans for Non-Agricultural Income Surgeon Activities such as Fisheries, Beekeeping, Poultry, etc.
  • The tractor was with a tailor to loan for two wheelers which are used only for commercial purposes.

Mudra Card under Pradhan Mantri Mudra Yojana

A Mudra card is a type of debit card which is provided to mudra loan holders. This card acts as an ATM card for a savings account. You can withdraw money from the ATM through this card. The bank makes a loan section up to one limit in your name. You can withdraw money up to the limit collected by the bank through this card. The working capital needs of the business can be met through this card. Currency transactions become completely digital through mudra cards. Using this card, the beneficiary can withdraw money through ATMs from any corner of the country and also make payments through a point of sale machine.

How to Apply in Pradhan Mantri Mudra Yojana 2021

If you want to get a loan from the bank to start its industry by applying under Pradhan Mantri Mudra Yojana, the following methods have to be utilized.

  • First, the applicant has to obtain and fill the application form from the concerned bank to apply under Pradhan Mantri Mudra Yojana.
  • The application form will then have to fill in all the information asked like name, address, mobile number, Aadhaar card number, etc. and attach all documents and submit them to the concerned bank.
  • The bank officer will then verify your application form and all documents and send the loan amount to your bank account within 1 month.
  • In this way, your application will be completed and with the loan amount you get, you will be able to start your own industry.

The process to Download Pradhan Mantri Mudra Yojana Toll Free Number

  • First of all, you have to visit the official website of Pradhan Mantri Mudra Yojana
  • Now you’ll be open at home.
  • On the home page, you need to click on the link to Contact Us.
  • Now a new page will open in front of you in which you need to click on the download link next to the PMMY toll free number.
  • All status wise toll free numbers will be downloaded as soon as you click on this link.

Procedure to login to PMMY Portal

  • First of all, you have to visit the official website of the Pradhan Mantri Mudra Yojana.
  • Now you’ll be open at home.
  • You will then need to click on the link to login into the PMMY portal.
  • Now you will have a login form open in which you need to login by filling in the user name, password, and captcha code.
  • Thus you will be able to login into the PMMY portal.

Helpline Number

  • Email Id- help@mudra.org.in

Last Word

We have provided you with all the important information related to Pradhan Mantri Mudra Yojana in our article. If you are still facing a problem, you can solve your problem by contacting the toll free number. Or you can also send an email. You can know the toll free number by following the above procedure and the email ID is as follows.

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