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.
The loans under MUDRA scheme can be availed only through banks and lending institutions which include
- Public Sector Banks
- Private Sector Banks
- State operated cooperative banks
- Rural banks from regional sector
- Institutions offering micro finance
- Financial companies other than banks
Benefits
The benefits under the scheme has been classified under three categories as ‘SHISHU’, ‘KISHOR’ and ‘TARUN’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur.
- Shishu: Covering loans up to Rs. 50,000/-
- Kishor: Covering loans from Rs. 50,001 to Rs. 5,00,000/-
- Tarun: Covering loans from Rs. 5,00,001 to Rs. 10,00,000/-
For more information please visit https://www.mudra.org.in/.
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