The non-farmers and non- corporate sector gets the benefit of Pradhan Mantri Mudra Yojana to initiate their business. The scheme is established since the year 2015 by the Indian government to provide funds to the unfunded for organizing micro or small enterprises.
PMMY is the short name for Pradhan Mantri Mudra Yojana. To initiate and run the business we always need financial support. For those who can not get the support have the chance and opportunity to ask the government for help and sanction their loan. You can know about the benefits, eligibilities and apply for a loan to start your own business. The piece of article provides details for Pradhan Mantri Mudra Yojana process.
Which type of firms can apply for Pradhan Mantri Mudra Yojana?
Whether the business you start is individually or in a partnership that must have an influence of being under non-corporate small business segments (nccbs) and thus can apply for the scheme.
- An artisan
- A food service/food processing unit
- A manufacturing Unit
- A shopkeeper
- A truck operator
- Small industrial unit
- A service sector unit
- Fruit or vegetable vendor
- Under the Mahila Uddyami Scheme, a woman entrepreneur can also avail of the scheme. It is part of MUDRA Yojana, the woman can also apply for Loan under all loan categories like Shishu, Kishor, and Tarun.
How to apply Pradhan Mantri Mudra Yojana:
- These are the steps for all categories i.e Shishu, Kishor, and Tarun types.
- You have to visit private or commercial bank nearest to his/her location.
- Share your business ideas with the loan application form.
- Keep the documents attached to the form that is mentioned above.
- Follow the instructions and formalities that are asked by the bank.
- Once the documents are verified your loan will be sanctioned.
Mudra Loan card:
- The Mudra Loan Card is as similar to the credit card that is provided by all the banks that have pre-approved loan amount.
- You can even withdraw money as you do through debit cards.
- Use Mudra Card that will also work as Rupay card that can be used for sales.
Users can also use the card as:
- Credit card to avail the Overdraft facility
- Swipe the card at PoS
- Withdraw cash from ATMs
Here is the list of the Banks that helps and provides service of this Yojana.
|Download/ Apply Online
Thus make sure you have eligibility, and fulfill the need to avail the Pradhan Mantri Mudra Yojana scheme.