When the Modi govt had launched the scheme, all were happy and they will get collateral free loan for business starting business & expansion. People thought that the govt will launch MUDRA Bank for
After the launch of Mudrabank.com we had started to receive several complaints that banks were not accepting request for MUDRA Loan & surprising the complaints against banks were increasing day by day. We were receiving complaints like banks not accepting loan request, delaying application, not providing loan form, demanding money, our quota had fulfilled, our branch had not authorized for mudra loan etc.
It was really serious matter because banks were not following the policy & it was damaging center’s image. We aware that bank had rights to deny loan application but before denying they had to follow some process first.
On our request center govt. & bank had issued some guidelines on it but the flow of complaints had not stopped. People were commenting about center govt. & we were sending all comments to Ministry of Finance for action. We followed the same process till one month & when we were never gotten any positive changes & response from there. We planned to design one loan application form so that you can apply mudra loan online and we can send the same form to concern bank officials so that they could send it to concern branch for action.
Now thousands of people have applied mudra loan online and we are forwarding the same to concern bank officials to take prompt action. After launch, we received several positive comments because banks were responding with TAT.
Friends, we request you that please do not pay anything for MUDRA loan or less interest rates & visit once your bank branch before applying mudra loan online.