Pradhan Mantri Mudra Yojana (PMMY)
Posted 01/04/2023
| Description | Micro Units Development Refinance Agency (MUDRA) banks have been created to enhance credit facilities and boost the growth of small businesses in rural areas. The government has introduced this scheme to support small businesses in India. In 2015, the government allocated INR 10,000 crores to promote startup culture in the country. The MUDRA banks provide startup loans of up to INR 10 lakhs to small enterprises, and businesses, which are non-corporate, and non-farm small/micro-enterprises. MUDRA comes under Pradhan Mantri Mudra Yojana (PMMY) which was launched on 8 April 2015. The loans have been categorized as Tarun, Kishore, and Shishu. The assets are created through the bank’s finance and there is no collateral security. Under the aegis of Pradhan Mantri Mudra Yojana (PMMY), MUDRA has created products/ schemes. The interventions have been named '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 to look forward to : Shishu : covering loans upto 50,000/- Kishor : covering loans above 50,000/- and upto 5 lakh Tarun : covering loans above 5 lakh and upto 10 lakh |
| Provider Type Central Govt / State Govt / Private Sector | Central Govt |
| Provider Name | Micro Units Development and Refinance Agency |
| Amount | Upto 10 lakh |
| Grant Conditions & Qualifying Criteria | Eligibility varies depending on the kind of services you want. Also, 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. The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time. |
| Focus Sector (Healthcare, Defense, Agriculture, etc.) | |
| Provider Contact Email | NA |
| Provider Website URL | www.mudra.org.in: Email: ceo@mudra.org.in |
| Type of funding (Grant, Loan or Equity) | Grant |
| Process | NA |
| Tips for Winning | NA |
| Provider Indian State | NA |
| Provider Contact Address | |
| Is Active | "Yes" |
| Other Details |
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