| 1. |
ELIGIBILITY |
- Individual, Proprietorship, Partnership firms, Limited Liability Partnerships (LLPs), Private/ Public Ltd. Cos. Or any other legal entity having GST Registration No. (wherever applicable) & valid Udyam Registration (mandatory).
- MUDRA loans may be extended on cluster basis also subject to maximum ceiling.
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| 2. |
PURPOSE |
Credit Facility to Non-Farm Enterprises engaged in Manufacturing, Trading and Services activities for income generation. (Only Micro and Small Enterprises (MSEs) as per MSMED Act 2006 can avail Mudra Loans) |
| 3. |
EXTENT OF LIMIT/ LOAN |
Up to Rs. 10.00 Lakh (The maximum quantum of exposure from all Banks / Financial Institutions shall be Rs. 10 Lakh per enterprise / borrower). The Scheme is classified into three categories:
- Any Indian Citizen with 40% or more disability.
- Age above 18 years.
- The borrowers already covered under any other scheme of financing sponsored by Central or State Government or financing institutions and having outstanding loans against their names shall not be eligible.
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| 4. |
SECURITY |
- Primary – Hypothecation of assets created out of Bank loan.
- Collateral – Guarantee Coverage under CGTMSE shall be obtained
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| 5. |
MARGIN |
Nil upto 2 Lakh |
| 5. |
RATE OF INTEREST* |
Starting from 9.25% p.a (linked to Repo Rate, subject to change from time to time) |
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*Subject to change from time to time
For more information or any query related to the scheme, kindly visit your nearest PGB branch.
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