Mudra Loan Bank List 2022 – List of Banks Offering Mudra Loan

Mudra Loan Bank List – List of Banks Offering Mudra Loan – Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 to focus on the financial needs of a large number of micro units. Micro enterprises are among the largest employment providers in India. These enterprises, which employ over ten crore people across the country, are usually in the processing, manufacturing, services and business sectors. They may also be involved in non-agricultural allied agricultural activities.

Mudra loan scheme does not lend directly to entrepreneurs; Instead, these loans are made available through several financial institutions on the list of Mudra Bank branches. Non-banking financial companies (NBFCs), commercial banks, small finance banks and regional rural banks (RRBs) can also be designated mudra finance branches. Anyone who wants to avail a loan for their MSME unit should approach these lenders to apply for a Mudra loan.

Mudra Loan Bank List
Mudra Loan Bank List

Mudra Loan Bank List 2022 – List of Banks Offering Mudra Loan

Corporation Bank Dena Bank Federal Bank HDFC Bank
Allahabad Bank Andhra Bank Axis Bank Bank of Baroda
J&K Bank Karnataka Bank Kotak Mahindra Bank Oriental Bank of Commerce
Bank of India Bank of Maharashtra Canara Bank Central Bank of India
IDBI Bank Indian Bank Indian Overseas Bank United Bank of India
Syndicate Bank Tamilnad Mercantile Bank UCO Bank Union Bank of India
Punjab and Sind Bank Punjab National Bank Saraswat Bank State Bank of India
ICICI Bank ————————- —————– ———————-

Types Of Mudra Loan :

Mudra loans are categorised into three brackets, depending on the loan amount. Accordingly,

  • Shishu Yojana offers loans for up to ₹50,000
  • Kishore Yojana offers loans up to ₹5 Lakhs
  • Tarun Yojana offers loans up to ₹10 Lakhs

Eligibility Criteria For Banks Providing Mudra Loan

  • The NPA level for public sector banks should not exceed 15%, while for private sector or foreign banks the level should not exceed 10%. The net NPA level for regional rural banks should be less than or equal to 3%.
  • While RRBs should have earned net profit in the last two years, private and public sector banks should have made gains in the last two years or have a rating of more than “A-minus” from credit rating agencies.
  • The profit earned in the last two financial years will be considered for small finance banks. Credit ratings can be considered only at the discretion of the currency. Also, their net NPA should be equal to or less than 3%.
  • List of Different Types of Bank Loans in India By All Banks
  • All non-farm enterprises
  • Under micro enterprises and small enterprises segment
  • Engaged in income generating activities
  • Engaged in manufacturing, trading and services
  • Whose credit needs are up to Rs. 10 lakhs
  • Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01/04/2016.

Mudra Loan : Features List

  • Shishu: Loans sanctioned under the PMMY scheme up to Rs. 50,000
  • Kishore: Loans sanctioned under the PMMY scheme from Rs. 50,001 up to Rs.5 Lakhs
  • Tarun: Loans sanctioned under the PMMY scheme Rs. 5,00,001 up to Rs. 10 Lakhs
  • There is no minimum loan amount under the Mudra loan scheme.
  • The maximum loan amount that can be taken under the PMMY is Rs. 10 Lakhs.
  • Borrowers don’t need to pay processing charges or offer collateral if they avail a Mudra loan.
  • The interest rate on Mudra loans is determined by the marginal cost of lending rate or MCLR, which is calculated according to the RBI guidelines.

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