What is Pradhan Mantri Mudra Yojana Loan (PMMY)

Today the whole world is going through an economic recession due to the pandemic of Kovid-19. Jobs have been lost, businesses have stopped, people are getting worried for livelihood. First of all, there are not as many jobs as there are job creators. As a result, most of the people are unemployed. Institutions get unemployment benefits. They hire people with the best skills at the least salary. Its loss is to the workers. Because there is a long army of workers and they are ready to work even at least salary. In view of such an odd situation, today’s youth is moving towards self-employment rather than job, but the problem of money is coming in front of him. There should be some thing to guarantee for taking business loan from bank etc. Which the youth do not have. If you are also falling prey to lack of money, then you do not have to worry about anything because the government has run the self-reliant India scheme to promote self-employment. In this scheme, there are many beneficial loan arrangements for new entrepreneurs, which can be availed. likewise prime ministerAttractive scheme of Mudra loan has been run. It is no less than a boon for new entrepreneurs, expanding the industry, or for those who are out of trouble.

Loan is available without any guarantee-warranty

If you are enthusiastic youth and your vision is very clear. You have complete faith in yourself. If you also believe that whatever business you start, you will get that much benefit so that you will pay the bank loan and its interest on time, then you should apply for Prime Minister Mudra Loan. From where you can get loan at easy interest rates without any guarantee warranty. You can set up your business with this loan. You can expand and accelerate your business. Let us see what you need to do first.

Do your business by thinking of yourself, not on the behest of anyone

First of all, you have to choose your favorite business. This business should be such, in which you are interested and also have inside knowledge of that business. This business should also match your favorite business area. By doing this your business will run smoothly and quickly. If you want, you can do surveys for your favorite business or get them done to get the pulse of your customers in your preferred area. Seeing the results, you can take the next step. This will make your way of doing business much easier.

 

Skilled entrepreneurs no longer need to wander

Where earlier loans were not received from banks without any property guarantee i.e. security. Although that system continues even today, but in view of the convenience and skills of today’s skilled new entrepreneurs, now banks have started giving loans without any guarantee. In this type of loan, the bank officials examine your ability thoroughly and when they are sure that you can repay the loan given by them and its interest on time, then they give you the loan easily. . This is paving the way for young entrepreneurs to become self-dependent.

Loan is available more or less on the basis of CIBIL score

Any business man gets a loan on the basis of his past record and civil score. If your civil score is above 800 marks then any bank will blindly trust you and give you a loan of the amount requested by you. This civil score is decided on the basis of the repayment of the loan taken by you earlier. If your civil score is low, then the bank does not give the loan of the amount asked by you, but assesses your repayment capacity and then gives you the loan as much as you can easily repay. Apart from this, the bank sees all your documentary records. Are you a defaulter in any scheme? When the bank officials are convinced about this, they give you a loan according to your need.

How to apply for Mudra loan in Hindi? , How to apply for Mudra loan?

Prime Minister Mudra loan application can be done online and offline.

Money bags in man hand

How to apply offline Mudra loan

In offline loan, you have to meet the manager of your preferred bank branch and talk to him about taking Prime Minister Mudra loan. You have to submit all your documents. If you are taking a loan to start a new business, then you will have to give the business plan of your business. If you want to take a loan to expand your business, then you have to give all the details including the turnover of your business, in which you have all the accounts of income and expenditure. Based on that you get the loan. The whole process is as follows:-

1. Visit your nearest bank branch

2. Ask for the prescribed form for Prime Minister Mudra Loan

3. Fill the information asked in this form of Mudra loan carefully, if there is any mistake in it, the application can also be rejected.

4. Along with the application form, passport size photograph, all required documents have to be attached.

5. Identity proof, Aadhar card, Voter I card, PAN card etc. will have to be given in the required documents. Along with this, documents related to the address of the residence or institution, electricity bill, telephone bill etc. will have to be given. Apart from this, if you come from OBC, SC, ST category, you will have to fill the certificate, balance sheet, IT return, sales return, other details.

6. Six months statement of your bank account will also have to be given

7. All bank formalities have to be completed

8. All the information given by you should be correct and correct because only after their correctness the loan will be sanctioned

9. After the verification of all the documents, if all the documents are found to be true in the investigation, then your loan will be approved.

10. The amount sanctioned for the loan will be credited to your account. After that you can use that money according to your need.

Steps to apply online for Mudra loan in Hindi | How to get online Mudra loan

You can download the prescribed form there by using the website of your preferred bank branch for availing Mudra loan online. All the information given in this form has to be filled correctly. Also, the scanned copy of all the required documents has to be uploaded. After this the bank officials look at your application and when they have full confidence in it. Then they contact you and verify the information given by you. Loan is given to you only after you are completely satisfied. Apply online as follows:-

1. Download Mudra Loan Application Form from Banks or Financial Institutions

2. Fill all the information asked in the loan application correctly

3. Upload the scanned copy of all the required documents

4. Go to the bank with its hard copy

5. Complete the Verification Process

6. Provide whatever information the bank asks for

7. After this your loan will be approved

Create Project Report (Business Plan)

When all your preparations are done, then as the first process of taking Prime Minister Mudra loan, you should prepare a project report of your business. You have to tell how much capital you yourself are investing in this business plan. You have to tell how much capital will be invested in your business. You buy the machine, you will keep the human labour, where will you get how much land, shop. How much raw material will be used, how much will be spent in electricity, water, transportation, marketing and sales, all should be mentioned in the business plan.

The plan should be very attractive and giving solid results

In your business plan, you will also have to tell how you will do business and after how much time your business will start giving profits. After how much time your profit will be eligible so that you can pay the interest and profit of the bank. Taking a business plan containing all these information, you go to the bank branch where the bank officials will ask for complete information from you and after that they will verify those information on the ground label.

Answer every question of bank officials

When the bank officials will be completely satisfied with your civil score. Will examine your business plan closely and ask you for information on every point. When they are completely satisfied with the planning of your business plan, then they will give you loan as per your capability.

What documents are needed to take Prime Minister Mudra Loan

1. Loan Application Form

2. Two latest passport size photographs

3. Any Government ID proof for your identity like Aadhar Card, Voter ID, Passport, Driving License

4. Age related certificate

5. Documentary certificate in respect of your address

6. Address proof of your institution

7. Your bank account statement for six months

8. Caste Certificate

Prime Minister’s Mudra loan is available in three categories

1. Shishu Loan: If you want to start a small business or take a small loan to expand the business on the go, then you can take a loan in this category. In this category you can get a loan of 50 thousand or less.

2. Kishor Loan: In this category you can get loan from 50000 to 500000 for expansion of your business.

3. Tarun Loan: In this category you can get loan from 5 lakhs to 10 lakhs. You can expand your business by taking loan in this. You can get your business out of trouble.

two miniatures standing aside of loan money bag

Why was the Mudra Loan Scheme launched?

Pradhan Mantri Mudra Yojana was started in the year 2015 by Prime Minister Narendra Modi to bring economic revolution and to provide their employment to the skilled youth. Under this, loans were to be made available to new and young entrepreneurs without guarantee at affordable interest rates. Till now lakhs of youth have benefited under this scheme.

Unemployment has increased once again after the Corona period. Employment crisis has arisen in front of the people. Also, those whose businesses were running in good condition before the lockdown have also died now. In such a situation, the Pradhan Mantri Mudra Yojana is nothing less than a boon for the people in distress. Now the need is that such people should go ahead and take advantage of them and strengthen their economic condition and contribute to the economic development of the country.

Stand on your own feet and become independent

It is the duty of every citizen to strengthen the country in every way. When the government is giving you the full opportunity to stand on your feet, the government is fully helping you and your family to move forward, then it becomes your duty to take advantage of government schemes to do business and become self-reliant. When you do any business, you will serve the country and society, then your efforts will increase the economic prosperity of the country. Play the role and ask your colleagues to do the same. This will make the nation stronger.

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