Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them. It enables a small borrower to borrow from all Public Sector Banks such as PSU Banks, Regional Rural Baapply
And Cooperative Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions (MFI) and Non Banking Finance Companies (NBFC) for loans upto Rs 10 lakhs for non-farm income generating activities. The scheme was launched on 8th April, 2015 by the Hon’ble Prime Minister.
Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than Rs 10 lakh can approach either a Bank, MFI, or NBFC for availing of Micro Units Development & Refinance Agency Ltd. (MUDRA) loans under Pradhan Mantri Mudra Yojana (PMMY).
Types of loans provided
Under the aegis of Pradhan Mantri MUDRA Yojana, MUDRA has already created the following products / schemes.
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
The interventions have been named ‘Shishu’, ‘Kishor’ 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. It would be ensured that at least 60% of the credit flows to Shishu Category Units and the balance to Kishor and Tarun Categories.
There is no subsidy for the loan given under PMMY. However, if the loan proposal is linked some Government scheme, wherein the Government is providing capital subsidy, it will be eligible under PMMY also.
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The funding support from MUDRA are of two types:
1)Micro Credit Scheme (MCS) for loans up to 1 lakh finance through MFIs.
2)Refinance Scheme for Commercial Banks / Regional Rural Banks (RRBs) / Small Finance Banks / Non Banking Financial Companies (NBFCs)
Land Transport Sector / Activity
Community, Social & Personal Service Activities –
Food Products Sector –
Textile Products Sector / Activity –
How to apply
who wish to avail assistance under Pradhan Mantri MUDRA Yojana (PMMY), can approach the local branch of any of the financial institutions in their region – PSU Banks, Regional Rural Banks and Cooperative Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions (MFI) and Non Banking Finance Companies (NBFC). Sanction of assistance shall be as per the eligibility norms of respective lending institution.
under Sishu mudra Yojana you can avail up to 50,000 rupees loan.for this you may apply through online by following simple steps
1)go to PM emudra official website link..https://emudra.sbi.co.in:8044/emudra
2) provide required details like name, address, Adar card eKYC details, PAN card eKYC,bank account details etc.
after successful submission you can receive a confirmation massage to your mobile number,and amount credited to your bank account number.
For all PMMY loans, the following are to be noted.
No processing fee
Repayment period of loan is extended up to 5 years
Applicant should not be defaulter of any Bank / Financial Institution
Type of Facility: Working Capital and Term Loan
Purpose : Business purpose, capacity expansion, modernization
Target Group : Business Enterprises in Manufacturing, Trading and Services sector including allied agricultural activities.
Quantum of loan (Min/Max)
Maximum loan amount : Upto Rs 10 lacs
Loans upto Rs.50,000 are categorised as SHISHU
Loans from Rs.50,001 to Rs.500,000 are categorised as KISHORE
Loans from Rs.500,001/- to Rs.10,00,000/- are categorised as TARUN
Upto Rs. 50,000/- Nil
Rs. 50,001 to Rs. 10 lacs: 10%
Pricing : Competitive Pricing Linked to MCLR
WC/TL: in 3 – 5 yrs including a moratorium of upto 6 months depending on the activity/ income generation.
Review of WC/TL to be done annually.
Nil for Shishu and Kishore to MSE Units
For Tarun: 0.50%(plus applicable tax) of Loan amount
UPDATED LINK – https://emudra.sbi.co.in:8044/emudra
Apply from the official website – https://www.mudra.org.in/Home/PMMYBankersKit
Web site link for online apply:
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