Mudra loan is a scheme launched by the Government of India to extend affordable credit to micro units and small enterprises engaged in income generation. Mudra loan can be availed for various purposes. Listed below are a few of them:
For Form Detail click here- https://dcimanipur.gov.in/Handloom/Forms%20MUDRA.pdf
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If the borrower requires financial help for purchasing a vehicle under this scheme, he must submit the following documents:
If the borrower wishes to take a loan for his business under this scheme, he must submit the following documents:
If the applicant applies for rural business credit under the Mudra loan, he must submit the following documents:
The following details must be filled in the application form of this scheme:
The following details must be filled:
6. The credit facility proposed, the amount, the purpose and the details of the security must be mentioned.
7. In case of working capital, the actual sales and projected sales information has to be clearly mentioned.
9. The past performance and the future estimate of sales, profit and capital must be mentioned.
10. Statutory obligations’ status must be mentioned. They are:
11. The final part is the declaration, which requires you to pin up 3 passport size photos along with the signature of the proprietor, partner or director.
Mudra loans are designed to bring the micro units and small enterprises under the formal financial system. The loans can be availed for various purposes like maintenance and upkeep of farms, for purchasing vehicles, to purchase plant and machinery or enhancing infrastructure. Banks facilitate loans under the Mudra scheme as per the customer requirements. The loans under this scheme are collateral free loans.
As per the scheme there are three products under the Mudra loan. These are categorized as per the stages of growth of the enterprise. As per the scheme, the interest rate and the loan limit depends on the product. They are as follows:
There are two helpline numbers that will connect the user to the customer care help desk. Both the numbers are toll free and there will be no charges applied on the calls. To know more, contact the MUDRA helpline number 1800 180 1111 and 1800 11 0001.
Along with the helpline numbers there is an email ID given by the authorities. The official E-mail ID can be used to enquire on the scheme. The official Email ID is: [email protected]
To connect with any of the officers under the MUDRA loan facility is really easy. Apart from the above mentioned contacts, there are zone-wise executives who will assist the applicant to get the loan benefit under MUDRA.
All the public and private sector banks as well as co-operative, rural banks and non banking financial institutes are allowed to disburse the MUDRA loan. Listed below are the names of a few banks from which Mudra loan can be availed:
It is a debit card issued against Mudra loan account for the working capital portion of the loan. The card can be operated across the country for cash withdrawals and also to make payments. The maximum limit that can be withdrawn from the ATM using this card is Rs 25,000. These will be personalized in the name of the firm or individuals. The card will cover cash credit as well as current deposit accounts. Transaction charges will be applied from the first transaction onwards. The RuPay card will have an additional benefit of insurance coverage up to Rs 1 Lakh.
These are two different types of loan that are given by the banks and other financial institutions. They also cater to different needs. The Mudra loan is availed by individuals or farms who want funds for the maintenance and growth of their farms or businesses, whereas personal loan can be availed by any individual for meeting personal requirements of any kind. Mudra loan is a scheme backed by the government. There is a maximum limit up to which Mudra loan can be sanctioned. A personal loan has no specified limit. The amount sanctioned depends on the income of the applicant and other eligibility criteria.
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