When the Modi govt had launched the scheme, everyone were happy and they will get colletral free loan for business starting business & expension. People thought that the govt will launch MUDRA Bank for MUDRA lona but the govt had authoruzed to SIDDBI to design policy for MUDRA Loan and authorized all Nationalize bank and financial institutes to issue MUDRA Loan. We designed the mudrabank.com so that we would provide you correct information about the process and procedure.
After the launced of Mudrabank.com we had started to receive several complaints that banks were not accepting request for MUDRA Loan & surprising the complaints against banks were increasing day by day. We were receiving complaints like banks not accepting loan request, delaying application, not providing loan form, demanding money, our quota had fullfilled, our branch had not authorized for mudra loan etc.
It was really serious matter because banks were not following the policy & it was damaging center’s image. We aware that bank had rights to deny loan application but before denying they had to follow some process first.
On our request center govt. & bank had issued some guidelines on it but the flow of complaints had not stopped. People were commenting about center govt. & we were sending all comments to Ministry of Finance for action. We followed the same process till one month & when we were never gotten any possitive changes & response from there. We planned to design one loan application form so that you can apply mudra loan online and we can send the same form to concern bank officials so that they could sned it to concern branch for action.
Now thousands of people have applied mudra loan online and we are forwarding the same to concern bank officials to take prompt action. After launc, we received several possitive comments because banks were responding with TAT.
Friends, we request you that please do not pay anyting for MUDRA loan or less interest rates & visit once your bank brnach before applying mudra loan online.