PM mudra Yojna

Hi everyone, yesterday I went to Bank of Maharashtra for loan under mudra yojna. But I didn't get good response. They asked me to show balance sheet, IT return. And asked how much you earn profit? I said I doing since 2 years & on small scale so I have not much earned profit yet. I want to expand so I will be needing fund . They said you are doing since 2 years n how u hav not received good profit? I did not understand what to reply. I want to expand then only I can expect good profit. I said I will need 4-5 lac & they rejected. If the government don't want people to stand up n start then why they are making so much drama of start up n entrepreneurship. more  

View all 114 comments Below 114 comments
Dear sir, every banks are being avoided to advance the loan.But i have been working for the people of Namakkal so far and worked with various Bank branches.for Instance giveing a letter that fetches the loan of Rs 10 lakhs after getting the Regional offices about to receive the loan of 10 lakhs form Head office 's consent. Waiting for the amount credit. REGD. WITH AD. REQUISITION LETTER TO GET FINANCIAL ASSISTANCE TO EXPAND MY EXISTING (STEEL AGENCY SHOP) BUSINESS UNDER THE PRIME MINISTER’S MUDRA SCHEME From, S.Banumathy(Proprietress) W/o Selvaraj M/s, Sri Ram steel Agency, 12/169-C-5 ,Thuraiyur Main Road, Namakkal. 637002. Mob.:94432 54457., To, The Branch manager, M/s City Union Bank, Branch 088(Namakkal Branch) # 158-160, Thuraiyur Main road, Namakkal, Tamil Nadu 637002. Sir, Sub.: Seeking your Kind financial assistance to offer me a loan of Rs.10,00,000/(Rs ten lakhs only) under the Prime ministers MUDRA scheme to expand my existing Steel agency shop named as the M/s Sri Ram steel Agency ,in thuraiyur road,Namakkal to cater the needs of the people in the vicinity of in and around Namakkal town , besides giving employment to nearly five members to ten persons directly and more than few hundred’s indirectly the people who has been depending on the construction industries and also eradicate the poverty and providing livelihood to the gross root level since I have been doing and sustaining in the field nearly three decades of services since 1987 as Proprietor – needs your help to expand my business –req-reg. Ref: 1.My ration card registration no: 11/G/0419412 of 2005-2009 that had been issued by the O/o the Civil supplies n consumer protection dept. Special Thahsildhar, Namakkal.637001. 2.My current residential address D.No.17/25 ,Ganesapuram,Pillayar Koil street,Namakkal,637001 and the same has been amended as 40/25 ,Ganesapuram II street,Namakkal by the O/o the Civil supplies n consumer protection dept. Special Thahsildhar, Namakkal.637001 dated on 24.09.2014.. 3. My Adhaar No: 7202 9961 2158 that has been issued by the UIDAI, GOI. 4.My Voter Id: GBD1508324 that has been issued by the O/o the Electoral officer, Namakkal. 5. My PAN No.: AAVPB1612Q that has been issued by the O/o the Commissioner ate of Income tax, 67 –A Race course Road ,Coimbatore 641018. 6. My Bank Current a/c No. 088109000104308 dated 22 December 2008 that had been Opened in the O/o the City union Bank, Branch 088(Namakkal Branch, # 158-160 , Thuraiyur Main road, Namakkal, 7. My shop Address: M/s , Sri Ram steel Agency, 12/169-C-5 ,Thuraiyur Main Road, Namakkal. 637002. 8. My steel business, Certificate of Registration (TIN No.33083120586) that had been Signed on dated 01 January 2007 by the O/o the Commercial Tax officer,Namakkal. Govt. of Tamilnadu state. (PTO-2) --2-- Good Morning, I submit to state that I had been residing in the above mentioned address vide ref. no. (1) and the same was shifted that has been amended and endorsed vide ref (2), besides my identity of Aadhar and the voter id is affixed for your perusal and consideration vide ref.(3) and (4) and have been operating my Current a/c in your bank as per the ref. (6) cited above from December 2008 onwards in a successful with credible manner. Myself and my husband Th. Selvaraj both are being run the steel and Cement businesses at the premises vide ref.(7) and (8) cited above that has been certified by the Commercial tax officer to do business in Namakkal and its per- peri areas. The steel giants like KISCOL and MEENAKSHI rolling Bars is being sold approximately 100 tones per month and 500 tones of cements (Birla sakthi) is being marketed per month to cater the needs of the peoples, day to day requirements as to the construction of their buildings and any other infrastructure projects at their door steps, in turn the business volume is for the tune of Rs 25 lakhs to Rs 30 Lakhs per mensum. Amidst the situation a scheme (MUDRA Scheme) that has been announced by the countries GOI, Prime minister Th.Narendra Modiji and the finance minister Th.Arun jaitelyji suggested that to expand any business one can get the financial assistance of 10 lakhs (Ten Lakhs only) without collateral security @ of 8.75% interest the banks would help to expand the same. Hence , I request you to expand my way of steel and Cement business and the other materials in a large scale needs financial assistance of Rs 10,00,000/(ten Lakhs only)that would enable to perform my existing business to expand the business in a greater way and contribute my way of development of business may promote and flourish the Indian economy and once again I request the Banks officials with compassion provide the bank loan of Rs 10 Lakhs with your valuable support and will adhere all the rules of the bank. With regards, Yours sincerely, Namakkal, 07.04.2016 Encl.a/a in the ref (S.BANUMATHY ) more  
HI Janhavi ,, I suggest you to raise the Grievance to PM or Tweet to startup india twiter handle regarding your experience . Lets see does this things works in real world. and please do post it here. more  
Now new rule I came across that SBI branch manager said we don't give PM mudra loan to trader we only give it to manufacturer if I you want loan when your turn over will reach upto 10 lac then will think to give 10%...So as I m trading into traditional paithani sarees ,I can't get loan...if I want loan I should start manufacturing ..which is not possible..Now what to do?? more  
Some text seems to have got missed out: 2. ....sincere efforts are being made by the Government. We, as citizens, should give it a chance. 3. The entrepreneur needs to bring in margin money to the tune of 15 - 20% depending on the scheme (and the banks norms) more  
Hi, everybody. I have been seeing different inputs. I thought I should try and clear some aspects: 1. Loans are available under PRADHAN MANTRI UDYAMI MITRA YOJANA or PMUMY. These are for micro businesses/industries with a project cost (incl working capital) upto 10 lacs without collateral security. How the scheme works - a) an entrepreneur is registered and trained in EDP as also helped to make his project report. b) In these cases, the documents are routed through NIESBUD or through approved Training Partners (like us) and vetted. They can be submitted through this agency or directly to a bank. b) The bank's money is secure as it is re-financed by MUDRA Ltd - a unit of SIDBI. However, at the branch level they are accountable if a loan goes bad. So there is a general mindset. The entrepreneur has to convince the bank. NIESBUD (directly/through us) will intervene and try and sort out where there is a sound proposal. One problem that normally happens during the interview with the bank officials is that the entrepreneur is unable to answer the questions related to the Project Report as he/she has NOT been involved in the compiling and can't explain the financials, which have been done by some CA or other professional. c) NIESBUD (or agencies like us) will be hand-holding the project for the first six months to ensure that everything is going smoothly, inflow is there and the bank instalments (fixed capital amortized) is on track. d) NIESBUD has been appointed as the Nodal agency for MUDRA - so pl do let us know if any genuine proposal is held up. e) Entrepreneurs who have undergone a training in EDP and have cleared the online test are being considered as eligible for these MUDRA schemes. f) Sr retired Bank officials are also there to help smoothen any issues faced by the entrepreneur. g) Every bank has a district-level senior officer to help out. 2. Pl do share any genuine problems. We shall then work out the solutions. While I am an a-political person - with neither left or RIGHT leanings, I can say this that a sincere effort is being made by the 3. more  
Post a Comment

Related Posts

    • Will many CAs may have to close soon

      Many CA, CS and CMA Professionals have to either change work or close their practice after this attached circular.

      By Ajay Dutta
    • Google is a pathetic company

      Google India hiked the rate of business mail by 350 %. With fear of recession looming and when msme are struggling this is not the right thing to do. It will cost msme sector 5000 crore per year...

      By Vishal Khanna
    • GST filing

      Still GST system is not 100 % user/official friendly. there are news that so much money (in lacs) collected by fraudulent GST bills. I am a GST registered vendor. The company turn over is almo...

      By Subramanian Venkataraman
    • Taxation Issues faced by Startups: Inputs Sought

      Many of you know how LocalCircles had worked with the Government in 2019 on resolution of angel tax issues under Section 56 (2)(viib) of the Income Tax act. Once again, the Government h...

      By LocalCircles Manager
    • Why no penalty an dprosecution for govt

      Now our IT portal has become sick being suffering babu virus or extortion virus. McA site never works on last days and people have to pay penalties for mistakes of govt. Now professionals are wasti...

    • Income Tax Return Filing Portal

      What about income tax return filing date? Any extension thereof? As of today, I am not able to file the return . Has any one else file the income tax return? Has Portal issue been solved? I have al...

      By Hasmukh Sangani
    • Grass root experience

      I have been doing and promoting small business for the last 30 years. The real problem is that the ministers and their secretaries don't have practical experience and they look for 5 trillion dolla...

    • Why do Ministers refrain from engaging with businesses

      I find it quite interesting that the ministers want to deal only with tata adani ambani and not the real msme and startups. Why is the msme minister (appointed this week Narayan Rane) his secretary...

      By Aditi Mitra
    • Why such mismanagement

      FICCI the industry association has written to Centre saying most of 40000 ventilators manufactured under PM Cares Fund last year are lying unused at government facilities. Mainly due to negligence ...

      By Sudesh Rai
    • Word of caution to Indian small entrepreneurs

      Friends this is Aditya from New Jersey. A friend of mine from Brazil recently lost 3 members of his family back home to Covid. The P1 variant is most dangerous of all and is now invading neighbors ...

      By Aditya Sharma
    • simplifying procedures for easy business

      none of the administrators who are lucky to get into govt seats have practical field experience and they are not aware of the strains of small entrepreneurs. They always imagine that any entrepren...

      By Subramanian Venkataraman
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)