[MUDRA] Pradhan Mantri Mudra Yojana 2021
[Mudra] Pradhan Mantri Mudra Yojana Eligibility Criteria and Other Information @ Mudra.ong.in A NBFC supports development of micro enterprise sector in the country. Provides currency refinancing assistance to banks / MFIs for lending to micro units with a loan requirement of up to Rs. 10 lakhs. Mudra Pradhan Mantra provides refinancing to micro business under the scheme.
Other products are for development assistance in this area. The bouquet of mudra offerings is shown below. Ings ferings are being targeted in the spectrum of beneficiary segments. Pradhan Mantri Mudra Yojana
Eligibility Criteria: Pradhan Mantri
Mudra Yojana The minimum age of the applicant must be 18 years and the maximum age limit of the mudra loan should be 65 years. Loans can be obtained from non-agricultural income generating businesses in the trade, manufacturing and services sectors. Credit requirement must be Lakh 10 lakh or less.
Eligibility criteria for partner organizations
The Micro Units Development and Refinance Agency (MUDRA) has adopted eligibility criteria for various categories of banks for partner lending institutions with a view to refinance of micro units in the manufacturing, trading and service sectors in rural and urban areas.
In order to indicate the growth / development and funding requirement of the beneficiary micro unit / entrepreneur and to provide a reference point for graduation / growth of the next stage, Mudra promotes through these interventions:
➡️Infant: Loan cover up to Rs. 50,000 / –
➡️Adolescent: Covers loans up to Rs 5. Lakh
➡️Adolescent: Loan above Rs 5 lakh and income up to Rs 10 lakh
➡️Generally, loans of up to Rs 10 lakh are provided by banks under micro small enterprise without collateral.
Purpose of the scheme: Pradhan Mantri Mudra Yojana
Mudra loans are extended for various purposes which provide income generating and job creation. Loans are mainly extended to:
➡️Commercial loans for sellers, traders, shopkeepers and other service sector activities
➡️Working capital loan through currency cards
➡️Device money for micro units Vehicle loan
Mudra Loan Form Kit [PADF] Pradhan Mantri Mudra Yojana
Banker’s Kit: Pradhan Mantri Mudra Yojana
NBFCshould be registered with the RBI as an asset finance company (AFC) or a loan company.In the case of an NBFC-loan company, there is a CA certificate that if a loan is given for income generating activities, 60% of the income comes from productive assets.Two tier NBFCs (both NBFC-MFI and NBFC-MFI or complying with RBI norms for RBI sector status) will also be considered for lending / instrumental assistance to MFIs for lending to final orrowers.Gained net profit over the years and last 3 years.In order for NBFCs to lend to second hand vehicles, NBFCs must have 3 years of experience in the activity and also record a profit during that period.NBFCs enjoying well-managed credit facilities from scheduled commercial banks may be preferred.