PRADHAN MANTRI MUDRA YOJANA (PMMY)
COLLATERAL FREE LOAN UPTO RS. 10 LACS UNDER PMMY SCHEME
Short Note of PMMY
Nature of Facility :- Working Capital and Term Loan.
Purpose Business :- purpose, capacity expansion, modernization.
Target Group :– Business Enterprises in Manufacturing, Trading and Services sector including allied agricultural activities.
Eligibility Criteria :- Existing & New units.
Quantum of loan (Min/Max) :- Maximum loan amount : Upto Rs 10 lacs.
- Loans upto Rs.50,000 are categorised as SHISHU
- Loans from Rs.50,001 to Rs.500,000 are categorised as KISHORE
- Loans from Rs.500,001/- to Rs.10,00,000/- are categorised as TARUN
Margin (%)
- Upto Rs. 50,000/- Nil
- Rs. 50,001 to Rs. 10 lacs: 10%
Pricing Competitive Pricing Linked to MCLR
Collateral Security Nil. To be covered under CGFMU. However, as Primary Security, Hyp. of P&M for TL and Hyp. of Stocks & Receivables for CC to be done.
Repayment Period WC/TL: in 3 – 5 yrs including a moratorium of upto 6 months depending on the activity/ income generation. Review of WC/TL to be done annually.
Processing Fee/Upfront Fee
- Nil for Shishu and Kishore to MSE Units.
- For Tarun: 0.50%(plus applicable tax) of Loan amount.
Other Conditions
- The loans under Mudra Scheme are guaranteed by Credit Guarantee for Micro Units (CGFMU) and the same is provided through National Credit Guarantee Trustee Company (NCGTC).
- The guarantee cover is available for five years and hence for advances granted under Mudra Scheme the maximum period is 60 months.
- Leads are now available in Udyami Mitra Portal (www.udyamimitra.in). Site can be accessed by Branches with Username and Password
- All Branches to issue MUDRA RuPay Card for all the eligible CC accounts.
Plz lone shishu