How To Apply Pradhan Mantri Mudra Yojana In HDFC?
Pradhan Mantri MUDRA Yojana (PMMY) is a scheme set up by the Government of India initiated by our Prime Minister in 2015. This was initiated to provide credit facilities for the non-farm MSME units and non-corporates with loans of up to rupees 10 lakhs.
What is Pradhan Mantri Mudra Yojana?
The Pradhan Mantri MUDRA Yojana (PMMY), where MUDRA represents Micro Units Development & Refinance Agency Ltd. This was set up to avail loans for the corporate agencies to set up a new business. It could also be employed to expand the existing ones. Hence this is initiated to develop and refinance the Micro unit companies. MUDRA has an enrollment of 17 private sector banks, 27 rural banks,27 public sector banks, and 25 microfinance organizations to help deserving borrowers who fall under the eligibility criteria.
How To Apply Pradhan Mantri Mudra Yojana In HDFC?
Applicants can apply for the Pradhan Mantri Mudra Yojana In HDFC online as well as offline mode.
Online mode
● Visit the official HDFC Bank website.
● You can download the application form for the loan on their website.
● Provide all the necessary documents and the details that are required.
● Filled in the application form can now be submitted online.
● A reference ID or number will be provided from the bank end.
● Representatives from the bank will connect with you regarding the loan formalities, to whom you must provide the reference ID.
● The loan application form and documents will then be processed. Then it will be verified with the details given.
● The loan amount will be approved from their end, it will be verified and processed. Finally, the loan amount will be disbursed to your bank account.
Government
Offline mode
● For offline mode try visiting the nearest brand of HDFC Bank where the MUDRA loan is offered under PMMY.
● Fetch the application form from the bank branch.
● Fill in all the necessary details for the loan application along with the required documents and submit it to the bank person.
● Complete all the process of loan procedures and formalities with the bank.
● When the documents get cleared and verified the loan application can be approved by the bank.
● The loan amount will be disbursed to the bank account that is mentioned by the applicant within the working days specified.
Conclusion
The PMMY can be applied if you are running a business that is noncorporate with the above guidelines and avail of the loan with ease. This is a hassle-free loan application where minimum documents are needed and the funds are given based on their growth and entrepreneurial merits.
