up to 10 lakh collateral-free loan for small retailers, manufacturers and service providers for both new and existing business
PRADHAN MANTRI MUDRA YOJANA (PMMY)
PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme launched by Prime Minister Shri Narendra Modi on 8th April 2015 with an aim to "fund the unfunded"
NOTE:
MUDRA stands for Micro-Units Development & Refinance Agency Ltd. MUDRA is PSU established by Government of India on 8th April 2015 to fund the unfunded.
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OBJECTIVE OF PMMY:
PMMY provides funding to Non-Corporate; Non-Farm sector income-generating activities of micro and small enterprises whose credit needs are below ₹10.00 Lac.
PMMY aims to bring millions of small business units which are relying on traditional sources of finance to formal banking fold.
OFFERINGS OF PMMY:
SHISHU
KISHOR
TARUN
ELIGIBILITY:
All "Micro Enterprises" and "Small Enterprises" engaged in income-generating activities whose credit requirement is up-to ₹ 10.00 Lac.
The beneficiary unit should be Non-Corporate & Non-Farm enterprise.
The beneficiary unit should be preferably engaged in manufacturing, trading or services sector.
Now allied agriculture activities such as Pisciculture, Bee Keeping, Poultry, Livestock, Rearing, Grading, Sorting, Aggregation Agro Industries, Diary, Fishery, Agriclinics and Agribusiness Centres, Food & Agro-Processing, etc.(excluding crop loans, land improvement such as canal, irrigation and wells) have also been included in PMMY w.e.f. 01 April 2016.
The applicant should not be a defaulter to any bank or financial institution.
DOCUMENTS REQUIRED:
Identity Proof - a Self-certified copy of Voter's ID card / Driving License / PAN Card /
Aadhar Card/Passport.
Address Proof - Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter's ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
Proof of SC/ST/OBC/Minority if Applicable.
Proof of Identity/Address of the Business Unit -Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of the business unit.
Last six months account Statement of accounts of existing accounts if any.
Last two years balance sheets of the units along with income tax/sales tax return etc.
(Applicable for all cases from Rs.2 Lacs and above).
Projected balance sheets for one year in case of working capital limits and for the period of the
loan in case of term loan (Applicable for all cases from Rs.2 Lac and above).
Sales achieved during the current financial year up to the date of submission of application.
Project report (for the proposed project) containing details of technical & economic viability.
Memorandum and articles of association of the company/Partnership Deed of Partners etc.
In absence of the third-party guarantee, Asset & Liability statement from the borrower including
Directors& Partners may be sought to know the net-worth.
Photos (two copies) of Proprietor/ Partners/ Directors.
QUANTUM OF LOAN:
Minimum: No Ceiling
Maximum: ₹10, 00,000/-
SHISHU: covering loans up-to ₹50,000/-
KISHOR: covering loans above ₹50,000/- and up-to 05.00 Lac.
TARUN: covering loans above ₹ 05.00 Lac and up-to ₹10.00 Lac.
Nature of Facility: Working Capital /Term Loan and Cash Credit.
SECURITY: NIL.
To be covered under CGFMU (Credit Guarantee Fund for Micro-Units)
Assets created out of Bank Finance shall be treated as primary Security
Hypothecation of Plant & Machinery in case of Term Loan.
Hypothecation of Stocks & Receivables in case of Cash Credit Loan.
Hypothecation of Plant & Machinery in case of Term Loan.
Hypothecation of Stocks & Receivables in case of Cash Credit Loan.
PROCESSING CHARGES:
Nil for SHISHU Category But in case of TARUN and KISHOR loan processing fee of 0.5% may be charged.
MARGIN: Up-to Rs. 50,000/- Nil
Rs. 50,001 to Rs. 10 Lac: 10%
RATE OF INTEREST
Interest rates may vary from bank to bank. But, the interest rate charged to borrowers shall be reasonable.
REPAYMENT PERIOD:
For Working Capital/Term Loans:
The loan is to be repaid within 3 - 5 yrs including a moratorium of 06 months which will also be aligned in terms of allotment of MUDRA funds by RBI from time to time.
PARTNERS IN MUDRA INITIATIVE
27 Public Sector Banks
17 Private Sector Banks
31 Regional Rural Banks (RRBs)
4 Co-operative Banks
36 Micro Finance Institutions (MFIs)
25 Non-Banking Financial Companies (NBFCs)
List of Activities Covered Under Pradhan Matri Mudra Yojana:
For the purchase of machinery to set up a new business unit.
Purchase of transport vehicles for goods and passengers transport such as auto rickshaw, small goods transport vehicle, e-rickshaw, taxis, etc.
To set up Service Units such as gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, Saloons, beauty parlours, DTP and Photocopying Facilities, Medicine Shops, etc.
To set up Food Processing units such as papad making, achaar making, jam/jelly making, agricultural produce preservation at the rural level, sweet shops, small service food stalls and day to day catering/canteen services, cold chain vehicles, cold storages, ice-making units, ice cream making units, biscuit, bread and bun making, etc.
Handloom, power loom, khadi activity, chikan work, zari and zardozi work, traditional embroidery and handwork, traditional dyeing and printing, apparel design, knitting, cotton ginning, computerized embroidery, stitching and other textiles in garment products such as bags, vehicle accessories, furnishing accessories, etc.
For allied agriculture activities such as Bee-Keeping, Pisciculture, Livestock, Rearing, Dairy Farm etc.
PRADHAN MANTRI MUDRA COMPLAINTS AND QUERIES
NATIONAL: 1800 180 1111, 1800 11 0001
STATES & UT’S
S.NO
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Name of the State/U.T
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Toll-Free NO
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1
|
ANDAMAN & NICOBAR ISLANDS
|
18003454545
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2
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ANDHRA PRADESH
|
18004251525
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3
|
ARUNACHAL PRADESH
|
18003453988
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4
|
ASSAM
|
18003453988
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5
|
BIHAR
|
18003456195
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6
|
CHANDIGARH
|
18001804383
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7
|
CHHATTISGARH
|
18002334358
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8
|
DADRA & NAGAR HAVELI
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18002338944
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9
|
DAMAN & DIU
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18002338944
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10
|
GOA
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18002333202
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11
|
GUJARAT
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18002338944
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12
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HARYANA
|
18001802222
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13
|
HIMACHAL PRADESH
|
18001802222
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14
|
JAMMU & KASHMIR
|
18001807087
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15
|
JHARKHAND
|
1800 3456 576
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16
|
KARNATAKA
|
180042597777
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17
|
KERALA
|
180042511222
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18
|
LAKSHADWEEP
|
0484-2369090
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19
|
MADHYA PRADESH
|
18002334035
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20
|
MAHARASHTRA
|
18001022636
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21
|
MANIPUR
|
18003453988
|
22
|
MEGHALAYA
|
18003453988
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23
|
MIZORAM
|
18003453988
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24
|
NAGALAND
|
18003453988
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25
|
NCT OF DELHI
|
18001800124
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26
|
ORISSA
|
18003456551
|
27
|
PUDUCHERRY
|
18004250016
|
28
|
PUNJAB
|
18001802222
|
29
|
RAJASTHAN
|
18001806546
|
30
|
SIKKIM
|
18003453988
|
31
|
TAMIL NADU
|
18004251646
|
32
|
TELANGANA
|
18004258933
|
33
|
TRIPURA
|
18003453344
|
34
|
UTTAR PRADESH
|
18001027788
|
35
|
UTTARAKHAND
|
18001804167
|
36
|
WEST BENGAL
|
18003453344
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SHISHU
TARUN AND KISHOR
COMMENTS