Who is eligible for MUDRA Bank Loan
Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY).
The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time.
There is lots of confusion in the market that which industries are cover under MUDRA Yojana. We are getting lots of query continuously about it.
MUDRA operates a special scheme for women entrepreneurs under Mahila Uddyami Scheme.
List of industries which are eligible for MUDRA Bank loan.
- Non – Corporate Small Business Segment (NCSBS) comprising of millions of proprietorship / partnership firms running as small manufacturing units.
- Service sector units :- Such as saloons, beauty parlours, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and Photocopying Facilities, Medicine Shops, Courier Agents, etc.
- Fruits / vegetable vendors
- Truck operators :- purchase of transport vehicles for goods and personal transport such as auto rickshaw, small goods transport vehicle, 3 wheelers, e-rickshaw, passenger cars, taxis, etc.
- Food-service units
- Repair shops
- Machine operators
- Small industries:- handloom, powerloom, chikan work, zari and zardozi work, traditional embroidery and hand work, traditional dyeing and printing, apparel design, knitting, cotton ginning, computerized embroidery, stitching and other textile non garment products such as bags, vehicle accessories, furnishing accessories, etc.
- Food processors :- papad making, achaar making, jam / jelly making, agricultural produce preservation at rural level, sweet shops, small service food stalls and day to day catering / canteen services, cold chain vehicles, cold storages, ice making units, ice cream making units, biscuit, bread and bun making, etc.
- Lots of others in rural and urban areas.
Tags:- MUDRA Loan for Industries, MUDRA loan for Shop, MUDRA scheme for distributors, MUDRA Scheme for retailers, MUDRA loan for services sector.
Modi Government has launched the MUDRA Scheme for weaker sections & small entrepreneurs but after the launch there is not clarity on Interest Rate.
Now we are providing interest Rate details according to MUDRA Scheme.
MUDRA SHISHU Yojana
Under Mudra Shishu Yojana banks are providing loan upto 50,000/-. It is basic scheme and banks are charging very nominal interest rate which is around 10% to 12%. We also found that the Nationalize banks are charging less interest rate than private banks etc.
MUDRA KISHOR Yojana
Under Mudra Kishor Yojana bank are providing loan upto 5,00, 000/- rupee. It is middle scheme & comes in category of unsecured loan & its Interest rate rate is high from14% to 17% depends on bank to bank. We suggest you to differentiate interest rate between Nationalize bank and Private bank before apply MUDRA Loan.
MUDRA TARUN Yojana
Mudra Tarun Yojana is the last scheme of government of India. Under MUDRA Tarun Scheme applicant can apply loan between 5,00,001 to 10,00,000/-. It is also an unsecured Loan and its rate of interest rate is high and starts from 16% and very bank to bank. In every case the interest rate between Nationalise bank and Private banks are different. Please check interest rate before apply loan.
As per our experience banks are not taking interest to approve MUDRA loan because of in-secure loan. Bank has right to dis-approve your loan request but they will process your loan application before deny.
If you are still facing any issue or bank employees are harassing you or demanding bribe. Please contact with CVO of concern Bank or local authority or mail us at info (at) mudrabank.com.
Tags:- MUDRA Interest Rate, Interest Rate MUDRA, MUDRA Bank Interest, Interest Rate under MUDRA Scheme, MUDRA Scheme Interest Rate, SHISHU Interest Rate, KISHOR Interest Rate, MUDRA Loan Interest Rate, Tarun Interest Rate.
Categories: Bank, Interest Rate, MUDRA, Mudra Bank, MUDRA Loan Tags: Interest Rate MUDRA, Interest Rate under MUDRA Scheme, KISHOR Interest Rate, MUDRA Bank Interest, MUDRA Interest Rate, MUDRA Loan Interest Rate, MUDRA Scheme Interest Rate, SHISHU Interest Rate, Tarun Interest Rate
List of institution which are authorised to disburse loan Under MUDRA Scheme.
Public Sector Banks
1 State Bank of India
2 State Bank of Bikaner & Jaipur
3 State Bank of Travancore
4 Bank of Baroda
5 Bank of India
6 Bank of Maharastra
7 Canara Bank
8 Corporation Bank
9 Dena Bank
10 IDBI Bank Ltd.
11 Indian Bank
12 Oriental Bank of Commerce
13 Punjab National Bank
14 Syndicate Bank
15 UCO Bank
16 Union Bank of India
17 Vijaya Bank
18 Allahabad Bank
19 Andhra Bank
20 Bhartiya Mahila Bank
21 Central Bank of India
22 Indian Overseas Bank
23 Punjab & Sind Bank
24 State Bank of Hyderabad.
25 State Bank of Mysore
26 State Bank of Patiala
27 United Bank of India
Private Sector Banks
1 Axis Bank Ltd.
2 Catholic Syrian Bank Ltd.
3 City Union Bank Ltd.
4 DCB Bank Ltd.
5 Federal Bank Ltd.
6 HDFC Bank Ltd.
7 ICICI Bank Ltd.
8 Indus Ind Bank Ltd.
9 Jammu & Kashmir Bank Ltd.
10 Karnataka Bank Ltd.
11 Karur Vysya Bank Ltd.
12 Kotak Mahindra Bank Ltd.
13 Nainital Bank Ltd.
14 South Indian Bank
15 Tamilnad Mercantile Bank Ltd.
16 The Ratnakar Bank Ltd.
17 Yes Bank Ltd.
Regional Rural Banks(RRBs)
1 Andhra Pragathi Grameena Bank
2 Chaitanya Godavari Grameena Bank
3 Deccan Grameena Bank
4 Saptagiri Grameena Bank
5 Bihar Gramin Bank
6 Madhya Bihar Gramin Bank
7 Uttar Bihar Gramin Bank
8 Baroda Gujarat Gramin Bank
9 Dena Gujarat Gramin Bank
10 Saurashtra Gramin Bank
11 Kaveri Grameena Bank
12 Karnataka Vikas Grameena Bank
13 Pragathi Krishna Gramin Bank
14 Kerala Gramin Bank.
15 Maharashtra Gramin Bank
16 Meghalaya Rural Bank
17 Puduvai Bharathiar Grama Bank
18 Malwa Gramin Bank
19 Punjab Gramin Bank
20 Sutlej Gramin Bank
21 Marudhara Gramin Bank
22 Pallavan Grama Bank.
23 Pandyan Grama Bank
24 Tripura Gramin Bank
25 Baroda Uttar Pradesh Gramin Bank
26 Prathama Gramin Bank
27 Sarva UP Gramin Bank
28 Narmada Jhabua Gramin Bank
29 Sarva Haryana Gramin Bank
30 Kaveri Grameena Bank
31 Baroda Rajasthan Kshetriya Gramin Bank
1 Gujarat State Co-op Bank Ltd
2 Mehsana Urban Co-op Bank
3 Rajkot Nagarik Sahhakari Bank
4 Kalupur Commercial Co-op Bank
Micro Finance Institutions(MFIs)
MFI – NBFC
1 S V Creditline Pvt. Ltd.
2 Margdarshak Financial Services Ltd.
3 Madura Micro Finance Ltd.
4 ESAF Micro Finance & Investments P. Ltd.
5 Fusion Micro Finance P. Ltd.
6 Ujjivan Financial Services P. Ltd.
7 Future Financial Services Ltd.
8 SKS Microfinance Ltd.
9 Utkarsh Micro Finance P. Ltd.
10 Equitas Micro Finance Pvt. Ltd.
11 Sonata Finance Pvt. Ltd.
12 Saija Finance Private Ltd.
13 Arth Micro Finance Pvt. Ltd.
14 Shikhar Microfinance Pvt. Ltd.
15 Navachetana Microfin Services Pvt. Ltd.
16 Samasta Microfinance Ltd.
17 Satin Credit Care Network Ltd.
18 Sahyog Microfinance Ltd.
19 Arohan Financial Services P. Ltd.
20 Suryodaya Microfinance Ltd.
21 Belstar Investment & Finance P. Ltd.
22 Jagaran Microfin P. Ltd.
23 Digamber Capfin Ltd.
24 Midland Microfin Ltd.
25 RGVN (North East) Microfinance Ltd.
26 Grameen Development & Finance P. Ltd.
27 Hindustan Microfinance Private Limited
28 Namra Finance Ltd
29 Muthoot Fincorp Limited
30 Sambandh Finserve Pvt Ltd
31 IDF Financial Services Pvt Ltd
32 Bhartiya Micro Credit
33 Sakhi Samudaya Kosh
34 Cashpor Micro Credit
36 Mahashakti Foundation
1 Reliance Capital Ltd.
2 Fullerton India Credit Co. Ltd.
3 Shriram Transport Finance Co. Ltd.
4 SREI Equipment Finance Ltd.
5 Magma Fincorp Ltd.
6 Religare Finvest Ltd.
7 Shriram City Union Finance Ltd.
8 Equitas Finance P. Ltd.
9 India Infoline Ltd.
10 ECL Finance Ltd.
11 AU Financiers India Ltd.
12 SE Investments Ltd.
13 Electronica Finance Ltd.
14 MAS Financial Services Ltd.
15 IKF Finance Ltd.
16 Intec Capital Ltd.
17 Sakthi Finance Ltd.
18 Esskay Auto Finance Ltd.
19 Bansal Credits Ltd.
20 Five Star Business Credits Ltd.
21 Indiabulls Financial Services Ltd.
22 Vistaar Financial Services P. Ltd.
23 Shriram Finance Corporation Pvt Ltd(SRFCL)
24 India Infoline Finance Ltd (IIFL)
25 Mahindra & Mahindra Financial Services Ltd
Note: The list is indicative and not exhaustive. The the names can be delete or add in above list. Please check it regularly.
Tag:- Bank list, Authorised Bank list for MUDRA Loan.