How to apply Mudra Yojana loan 2020

The Prime Minister’s Mudra Yojana loan will give new hope to small business and industrial enterprises in the country. Mudra Loan – Pradhan Mantri Mudra Loan is a prime scheme launched by government of India to provide finance up to Rs.10 Lakh under the MUDRA .

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There will be no banks in the country in the name of mudra banks. The nationalized private banks operating in the country are Mumbai MSMEs. Contact Mudra’s Central Office at the Development Center. Benefits under the Mudra Scheme are disbursed to the public through the branches of financial institutions. The scheme will be implemented through branches of nationalized-private banks.

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Regional Rural Banks and Co-operative Banks can also participate in the scheme. Benefits are available under the IOU scheme for starting and developing manufacturing companies, service companies and businesses.

Loan up to Rs. 10 lakhs

Mudra Bank includes a loan disbursement system that refers to three Hindi words: Shishu, Kishore and Tarun. Applicants can avail this scheme depending on the need of the fund. Their method of funding is as follows:

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  • Child – Loans up to Rs. 50,000
  • Adolescent – Loans between Rs 50,000 and Rs 5 lakh
  • Tarun – Loans ranging from Rs 5 lakh to Rs 10 lakh

How to apply Mudra Yojana loan

A very simple form and supporting documents are required to apply for a stamp loan. Applications in the prescribed form should be used. The form can be obtained from the branches of the bank itself with the emblem of the bank. You can apply with the required documents at the following address.

Required Documents for Mudra Yojana loan

  1. Documents proving permanent residence
    SC / ST / OBC / Minority Documents proving this
  2. Registration / license proving the address of the business establishment etc.
  3. Do not be in arrears with any financial institution
  4. If there is a bank loan at present, the account statement from the bank in question
  5. Current Entrepreneurs Final Accounts for the last two years (for loan applications above Rs. 2 lakhs only)
  6. Expected Balance Sheet (for loans above Rs. 2 lakhs only)
  7. Current venture sales figures for the last two years
  8. Detailed project report
  9. Documents and decisions regarding the structure of non-proprietary institutions
  10. Asset Liability Statement for each Proprietor / Partner / Director
  11. Passport Size Photos (2 Nos.)
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Address

The Director (Information Technology)
Ministry of Finanace
Department of Financial Services
Jeevan Deep Building
Parliment Steet
New Delhi – 110 011
Telephone No. 011 23346874
Email: [email protected]

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