Launched on — april 8th 2015, location –New Delhi
Pradhan Mantri Micro Units Development and Refinance Agency Ltd (MUDRA) Yojana (Full form of Mudra Bank), bank with a corpus of Rs 20,000 crore to extend credit of up to Rs 10 lakh to small businesses and ‘MicroFinance Institutions’ (MFIs).
With concept of “Funding the Unfunded,” Mudra Bank will provide Loan in 3 categories.
- AIM — Financial Inclusion
- Micro Units Development and Refinance Agency Ltd (MUDRA) Bank on 8 April, 2015 with a corpus of Rs 20,000 crore and a credit guarantee corpus of Rs 3,000 crore.
- Mudra bank Extend finance and credit support to Microfinance Institutions (MFI) and agencies that lend money to small businesses, retailers, self-help groups and individuals& SC& STs & BCs
MUDRA Bank has launched three loan instruments:
- Shishu: covers loans upto Rs 50,000/-
- Kishor: covers loans above Rs 50,000/- and upto Rs 5 lakh
- Tarun: covers loans above Rs 5 lakh and upto Rs 10 lakh
How To Apply For Loan From Mudra Bank?
- Under the Mudra Bank yojana You are eligible for three type of the Loan . These are Shishu , Kishor, Tarun.
- But Before you Apply For the Loan You Need to Analyse about your Business Plan and Prepare it In better Way
- After You prepare your business plan and you select your business categories (as mentioned above), you have to contact your nearest Public or Private bank where you can apply for Business loan under PRADHAN MANTRI MUDRA YOJANA.
Note : As some users got confused, mudra bank is not a separate bank (like SBI or BOB) it is government’s finance scheme to provide business loan to new small business in india. To get business loan under Mudra Yojana, you have to contact your nearest public/private bank
- To apply for Loan from Mudra Bank Please follow the below link where you will get all information about how to apply, eligibility criteria, who can get loan, what documents need to be presented to get loan from Mudra Bank, All questions are answered on below link.
Official Website of Mudra Bank :