► Punjab National Bank (PNB) is a prominent Public Sector Bank in India that actively participates in the Pradhan Mantri Mudra Yojana (PMMY). This scheme, launched by the Government of India, aims to "fund the unfunded" by providing financial assistance to micro and small enterprises for income-generating activities. PNB offers Mudra loans under three categories, signifying the stage of growth and funding needs of the borrower: Shishu Loan: Loan Amount: Up to ₹50,000 Purpose: For budding entrepreneurs, start-ups, or businesses in their initial phase. Focus: Very small credit needs for new ventures. Kishore Loan: Loan Amount: From ₹50,001 to ₹5 Lakhs Purpose: For established businesses that need funds for further development, working capital, purchasing inventory, or upgrading equipment. Focus: Businesses that have started and need more capital to sustain or grow. Tarun Loan: Loan Amount: From ₹5 Lakhs to ₹10 Lakhs Purpose: For established businesses looking for significant growth or expansion. Focus: Larger credit needs for scaling operations, technology upgrades, or business diversification. (It's worth noting that recent announcements have indicated a potential increase in the maximum Mudra loan limit to ₹20 Lakhs, with a new category 'Tarun Plus' for loans between ₹10 Lakhs and ₹20 Lakhs. However, the operational details and implementation timeline for this increase within PNB would need to be confirmed from their official website or branches.) Key Features of PNB Pradhan Mantri Mudra Yojana: Collateral-Free Loans: One of the most significant features of Mudra loans is that they are collateral-free. The loans are covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), which provides credit guarantee coverage to the banks. Purpose: Loans are primarily for non-farm enterprises engaged in manufacturing, trading, and services sectors for income generation. This also includes "activities allied to agriculture" like pisciculture, beekeeping, poultry, livestock rearing, food & agro-processing, etc. Target Beneficiaries: Aims to provide financial inclusion to micro-entrepreneurs, self-employed individuals, and small business owners, including women entrepreneurs and socially marginalized groups (SC, ST, OBC). Type of Facility: Can be offered as Term Loan or Working Capital Loan (Overdraft/Cash Credit). Repayment Period: Generally up to 5 years, which may include a maximum moratorium period (typically up to 3 months, but can be higher for larger loans). Interest Rates: Interest rates are linked to PNB's RLLR (Repo Linked Lending Rate) plus a margin. The exact rate can vary based on the applicant's credit profile, business nature, loan amount, and repayment tenure. PNB strives to offer competitive and affordable interest rates. Mudra Card: Borrowers may also be issued a Mudra Card, which is a RuPay debit card linked to their working capital account. This allows for flexible access to funds, including cash withdrawals from ATMs and POS machine purchases. Eligibility Criteria (General for PNB Mudra Loan): Applicant Type: Individuals, proprietary concerns, partnership firms, companies, LLPs, etc., involved in non-farm income-generating activities. Existing Account: For PNB's e-Mudra (digital) loan, typically requires an active Savings or Current Account with PNB for a certain period (e.g., past 6 or 12 months), depending on the scheme and loan amount. Age: Generally between 18 and 60 or 65 years. Udyam Registration: Mandatory for MSME verification. No Default: The applicant should not be a defaulter to any bank or financial institution. Credit Score: A satisfactory credit score is often required. Documents Required (Commonly): Proof of Identity: Self-attested copy of Aadhaar Card, Voter's ID card, PAN Card, Driving License, Passport, etc. Proof of Residence: Recent utility bills (electricity, telephone), Aadhaar Card, Voter ID, Passport, etc. Proof of Business: Udyam Registration Certificate (mandatory), Business License/Registration Certificate, GST Registration (if applicable), lease/rent agreement of business premises. Bank Account Statements: Latest 6-12 months bank statements (preferably from PNB). Income Proof: Latest ITR (Income Tax Returns) for a specified period (especially for Kishore and Tarun loans). Financial statements (unaudited balance sheets) for existing units, if applicable. Quotations: Quotations for machinery or other items to be purchased with the loan. Applicant's Photograph: Recent passport-sized photographs. Proof of Category: SC/ST/OBC/Minority certificate, if applicable. Duly filled Loan Application Form. How to Apply for PNB Mudra Loan: PNB offers multiple channels for Mudra loan application: Online (e-Mudra Portal): PNB has an e-Mudra portal (specifically for Shishu loans up to ₹1 Lakh) that allows eligible existing customers to apply digitally. The process involves Aadhaar-based e-KYC and e-Sign. PSB Loans in 59 Minutes Portal: This government-backed portal (www.psbloansin59minutes.com) facilitates online application for various MSME loans, including Mudra loans, up to ₹10 Lakhs, aiming for quick digital approval. PNB Branch Visit: You can always visit your nearest PNB branch, where bank officials will guide you through the application process and required documentation. For the most accurate and up-to-date information on eligibility, interest rates, and the application process specific to your needs, it is always advisable to visit the official PNB website or contact a PNB branch directly. .
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