Pradhan Mantri MUDRA Yojana (PMMY)
Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in . Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.
Achievements Under PMMY Since Inception
Financial Year :2017-2018
No. Of PMMY Loans Sanctioned :48130593
Amount Sanctioned : 253677.10 CRORE
Amount Disbursed : 246437.40 CRORE
Who is eligible for MUDRA loan?
Any Indian Citizen who has a business plan for a non-farm income generating activity such as manufacturing, processing, trading or service sector whose credit need is up to 10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY.
What is the rate of MUDRA loan?
Under this scheme, borrowers can avail business loans ranging from Rs.50,000 to Rs.10 lakh on the basis of the Sishu, Kishor, and Tarun categories. How to Apply for MUDRA loan?
Who is eligible for MUDRA loan?
Any Indian Citizen who has a business plan for a non-farm income generating activity such as manufacturing, processing, trading or service sector whose credit need is up to 10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY.
What is the documents required for MUDRA loan?
Duly filled application form of Mudra Yojana. 2 passport size photos of the applicant. Identity Proof: Aadhaar Card, Valid Passport, Voter ID Card, Valid Driving License and PAN Card. Residence Proof: Utility bill, Aadhaar card, Passport, Voter’s ID, Bank passbook or latest bank account statement.
Can I get MUDRA loan for new business?
Mudra Yojana is a loan scheme initiated by the Government of India to offer business loans of amount up to Rs. 10 lakh at competitive interest rates to individuals, MSMEs and self-employed professionals. No collateral or security is required by any financial institution from the borrowers applying for Mudra loan.
