Shishu loan under MUDRA bank?
The Pradhan Mantri MUDRA Yojana is aimed at those in the non farm sector take loans and start an entrepreneurial enterprise. Apart from this they will also regulate the lenders and the Micro Financing Institutions in India.
What are the loans that are available right now?
Even though there are three kinds of loans provided (Shishu loan, Kishor loan and Tarun loan), the MUDRA Yojana is at present is only providing the Shishu loan to the citizens of India. Also, about 60% of the loans are to be allotted to the Shishu category while only 405 will be shared among the Kishor and Tarun loans.
Under the Shishu loan, you can take up to Rs. 50,000 as loan from the government. This type of loans is especially for the micro units which are at a nascent level.
The Shishu loan application
If you think your business venture falls under the Shishu category and you ought to take a loan from the government, then you may do so by submitting an application form. The application form under the Shishu category is not available for download online. You can also visit the MUDRA Banks for getting the form through an offline process.
Advantages of the Shishu Loan
One of the advantages of this type of loan is that no collateral will be required to avail this loan. Also, no loan processing fees are attached. Also, the maximum repayment of loan can be extended up to 5 years
Role of MUDRA cards into this
The MUDRA cards will be issued either by the banks directly or by the MFIs. These cards will be issued in the form of RuPay debit cards. These cards will be very useful for your loan purposes since they can be used to withdraw cash funds from any ATM or POS machines. Also, you can make online purchases through these cards. Apart from that, they are also playing a key role here in obtaining Shishu loans.
What are the documents that will be needed to obtain these loans?
You will almost always need a proof of identity to apply for any loan under MUDRA bank. So it is advisable that you always have the valid proofs of your identity and its photocopies with you. These documents will include your passport or Aadhar card or such other things.
If you have a PAN card, then it is important to document it as well. Since you are opening a business and you need to take a loan for it, the government will ask for proofs of your business. You need to have an address proof in that case. This part is ambiguous though – you might not even need it depending upon the type of enterprise you are opening. So you must consult with your bank about this.
Keep your identity and address proofs near you while you go to avail this loan.
With just these few items, you can obtain a Shishu loan easily.
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Great Idea to support the needy, especailly those who are under below powerty line and the skilled unemployees.
Dear sir, Mudra loan yojna middle class family me lie sirf padhne or sunne ke lie hai eska labh Lena bahut muskil hai kyonki bank ka behave bahut ganda hai. Yadi ye yojna safal ho. to desh ka berojgari bahut had tak kam hoga .mai bhi loan Lena chahta hoon par bank ke behave se nahi lagta hai milega. for improve my shop .thanks, sir.
whether margin is required for shishu category. pl guide us.
Respected Sir,
Subject: we have business sector one great goal you have PM mudra loan sanctioned please informed
I am B.Gadilinga and (kishore Planed) we have one and all
Thank you
Yours Faith Fully.
Sir.
Hi
I am interested in starting up fabric business at home so I need shishu loan… I enquired in banks but they asking dic certificate can u pls guide me how to get dic certificate wat the procedure for it
Sir ye jo aap logo ki jo scheme hai ye sirf sunne k liye achchi hai he sirf ek vote bank bharne ki scheme hai.
Dear sir today I visit my bank for mudra loan and they started showing me their policies and asking me first you start your business on your own and then come back to us.
And their behavior is very bad the way they are talking on some point I thought I m asking for a favor not a loan.
Respected PM of India my humble request for you please don’t give a hope to people and sir whatever you’re doing for us is fair enough.