CENTRAL GOVERNMENT SCHEME ON MUDRA LOAN
Dear Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you benefit of “MUDRA LOAN SCHEME)”
Introduction of MUDRA Loan Scheme by Govt. of India:
As per NSSO survey (2013), there are around 5.77 crore small/micro units in the country, engaging around 12 crore people, mostly individual proprietorship/Own Account Enterprises. Over 60% of units are owned by persons belonging to Scheduled Caste, Scheduled Tribe or Other Backward Classes. Most of these units are outside the formal banking system, and hence are forced to borrow from informal sources or use their limited owned funds. MUDRA Loan Scheme has been proposed to bridge this gap. MUDRA Loan Scheme will aim to increase the confidence of the aspiring young person to become first generation entrepreneurs as also of existing small businesses to expand their activities
Illustrative list of the activities that can be covered under MUDRA loans:
1) Transport Vehicle
2) Community, Social & Personal Service Activities
3) Food Products Sector
4) Textile Products Sector / Activity
5) Business loans for Traders and Shopkeepers
6) Equipment Finance Scheme for Micro Units
7) Activities allied to agriculture
The MUDRA loans are extended under following three categories:
i. Loans upto ` 50,000/- (Shishu)
ii. Loans from ` 50,001 to ` 5 lakh (Kishore)
iii. Loans from ` 5,00,001/- to ` 10 lakh (Tarun)
Amount of assistance :
Upto to ` 10 lakh in three categories viz. Shishu, Kishore and Tarun.
Who Provides MUDRA Loan?
Mudra loan under PMMY is available at all bank branches across the country. Mudra loan is also issued by NBFCs / MFIs who are engaged in financing for micro enterprises in small business activities.
Eligible borrowers:
Those Eligible borrowers who are eligible to get benefit under this scheme are Individuals, Proprietary concern, Partnership Firm, Private Ltd. Company, Public Company, and Any other legal forms.
MUDRA CARD FACILITY:
MUDRA Card is a debit card issued against the MUDRA loan account, for working capital portion of the loan. The borrower can make use of MUDRA Card in multiple drawals and credits, so as to manage the working capital limit in cost-efficient manner and keep the interest burden minimum. MUDRA Card also helps in digitalization of MUDRA transactions and creating credit history for the borrower. MUDRA Card can be operated across the country for withdrawal of cash from any ATM / micro ATM and also make payment through any ‘Point of Sale’ machines.
Reach Us
Call Us : 8683898080
E-mail Us : sales@kipfinancial.com
KIP Financial Consultancy Pvt. Ltd.
DSB – 38, Red Square Market, Hisar – 125001 (HR)
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