Pradhan Mantri Mudra Yojana- Mudra Loan for future entrepreneurs is designed to meet the financial needs of small business. Under the scheme of Pradhan mantra Mudra Yojana loan is provided to support financially to small business. This scheme Micro Units development and refinance agency limited (MUDRA) is launched on 8 April 2015 by Narendra Modi the Prime minister of India.
The Aim of Pradhan Mantri Mudra Yojana:- To support and provide the loan to small businessman and this scheme will become the game changer scheme in India.
The scheme launched date 8 April 2015
Launched by PM Narender Modi
Loan Amount from 50000 to 10 Lakh.
Pradhan Mantri Mudra Yojana– Mudra Loan for future entrepreneurs comes with a dream to many Indians to become future entrepreneurs. As repayment is always an issue after taking a loan so this scheme will also take care of this area. Previously the banks only focus on the large business but after the launch of this scheme, the small businessman comes in limelight. The Mudra yojana benefits the 60 million small business owners across all over India.
The interest rate on this Yojana Under Pradhan Mantri Mudra Yojana- Mudra Loan for future entrepreneurs, the concern about this Yojana is what will be the interest rate. However many banks provide this facility of the loan, but the interest rate is not fixed in banks. Basically, it depends on your business and the type of bank. You can apply for Mudra Loan in the bank after providing them your business details. After that, you have to fill the application form there and if you have any account of that bank, then it will also help you.
Pradhan Mantri Mudra Yojana- Mudra Loan for future entrepreneurs.
In Pradhan Mantri Mudra Yojana- Mudra Loan for future entrepreneurs the Government also preferred that the reservation for SC, ST and Women will not affect this scheme. You can apply for Mudra loan if you have a business plan. Moreover, if you want to take a loan for Educational loan, personal loan and car loan then you cannot get that. If you have a proper business plan then only you can take the Mudra loan. However, if you want a vehicle for commercial use then you can get the vehicle loan. Mudra loan card will also be issued by the banks, and with this ATM card you can apply for amount withdraw and can use like a Credit card. This card will work with RuPay platform.
Documents requirement in ICICI bank: For business installation loan, documents required are:-
- Bill application form
- Mudra application form
- Photo identity proof
- Proof of qualification
- Proof of continuous business
- Address proof
- Bank statement
- Ownership proof of office
Link to apply for Mudra loan in icici bank