Mudra Loan Online Application — Shishu, Kishore, Tarun and Tarun Plus up to ₹20 Lakh Without Collateral, Applying on the Jan Samarth Portal for an Instant In-Principle Sanction, Udyamimitra and PSB Loans in 59 Minutes, the Bank-Branch Route, Documents by Category, Eligible Activities, Interest and Repayment, and Why Applications Are Refused

Pradhan Mantri Mudra Yojana (PMMY), launched in April 2015, refinances and guarantees loans by banks, small finance banks, NBFCs and micro-finance institutions to non-corporate, non-farm micro enterprises — shops, traders, artisans, food processors, service providers, transport operators (auto, taxi, goods carriers), and since 2016 allied-agriculture activities such as dairy, poultry, bee-keeping and fisheries. The loan is a normal bank loan with two scheme features: no collateral or third-party guarantee (the lender takes CGFMU cover) and a category ceiling. It is a loan, not a subsidy — there is no margin-money grant under PMMY; a subsidy comes only if the same project also qualifies under PMEGP or a state scheme.

• •Eligibility: Indian citizen, above 18, with a business plan or a running micro enterprise in a non-farm income-generating activity; not a defaulter with any bank; individuals, proprietorships, partnerships and small companies can borrow.
• •Interest: set by the lender on its MCLR/EBLR — typically the bank's micro-enterprise rate; no government interest subsidy under PMMY (the 2% Shishu subvention was a 2020–21 COVID measure).
• •Repayment: 3 to 5 years for term loans (up to 7 with the lender's policy); working capital as a renewable limit, with the RuPay Mudra Card for cash-credit withdrawals.
• •Guarantee: CGFMU covers the lender; the borrower pays no guarantee fee under most bank policies — ask, since some lenders pass on a small annual fee.

1. 1Jan Samarth (jansamarth.in): register with mobile and e-mail → 'Business Activity Loan' → Mudra → answer the eligibility questions → consent to fetch Aadhaar e-KYC, PAN, ITR, GST and bank-statement data (account aggregator) → the portal computes eligibility and gives a digital in-principle approval within minutes, with the participating banks and their indicative offers → choose a bank → the branch completes verification and sanctions.
2. 2Udyamimitra (udyamimitra.in, SIDBI): create a profile, fill the Mudra application with business details, upload documents, and the application is routed to your chosen bank branch; handholding agencies are listed for help with project reports.
3. 3PSB Loans in 59 Minutes (psbloansin59minutes.com): Mudra loans up to ₹10 lakh with in-principle approval from GST, ITR and bank data; sanction at the branch after verification.
4. 4Bank websites and apps: SBI, Bank of Baroda, PNB, Canara, Union and others have online Mudra forms — the file still lands at a branch, so choose the branch nearest the business.
5. 5Branch route: Form-based application (the older method in the Part-1 video) with the same documents; useful when your data footprint (no ITR, new business) is too thin for the portals' automated checks.

• •CIBIL: 700-plus makes the file easy; below 650 the branch will refuse under most policies regardless of the guarantee — clear overdue amounts and take a fresh report before applying.
• •Existence: the branch visits; a board, stock, a rent agreement or ownership proof and Udyam registration establish the business.
• •Sales: the bank statement is the evidence — cash sales that never touched the account cannot support a ₹10 lakh limit; start routing receipts through the account six months before applying.
• •Purpose: a specific asset or working-capital cycle, not 'business expansion'; the bank pays machinery suppliers directly for term loans.