Pradhan Mantri Mudra Yojna Pmmy

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Overview

The Pradhan Mantri Mudra Yojana (PMMY) is a government initiative in India designed to provide financial assistance to small and micro enterprises. Under this scheme, individuals can access “Mudra Loans” to start new businesses or expand existing ones.

The Pradhan Mantri Mudra Yojana (PMMY), launched in 2015 by the Government of India, provides financial support to small and micro enterprises. It offers loans under three categories — Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh) — to help individuals start or grow their businesses. The scheme is aimed at promoting entrepreneurship, creating employment opportunities, and enhancing financial inclusion.

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Categories of Mudra Loans

SHISHU

Loans up to INR 50,000 for businesses in the early stage.

KISHORE

Loans ranging from INR 50,001 to INR 5 lakh for businesses with moderate financial requirements.

TARUN

Loans ranging from INR 5,00,001 to INR 10 lakh for established businesses with higher financial requirements.

Eligibility Criteria

Loan Amount

Under PMMY, the loan amount is determined based on the business stage and its financial needs. Loans are classified into three categories — Shishu, Kishore, and Tarun — each with a specific maximum limit.

Loan Repayment

The repayment tenure for Mudra Loans typically ranges from 3 to 5 years, based on the loan amount and the type of business. However, exact repayment terms may differ across participating financial institutions.

Minimum 2 persons

The scheme supports a wide range of businesses, including small and micro enterprises, artisans, shopkeepers, fruit and vegetable vendors, truck operators, food service units, repair shops, and similar activities.

Individual Entreprenuers

The scheme is available to individuals involved in non-farm income-generating activities, including manufacturing, trading, and services.

Benefits

Flexible Loan Options

PMMY provides Mudra Loans in three categories: Shishu, Kishore, and Tarun, enabling individuals to select the loan amount that aligns with their business needs.

Simplified Loan Application Process

PMMY has streamlined the loan application process, making it easier and more convenient for borrowers. Individuals can apply for Mudra Loans through participating banks, NBFCs, or MFIs.

Lower Interest Rates

PMMY offers Mudra Loans at interest rates that are generally lower than those of traditional business loans.

Effortless Loan Application Process

PMMY has simplified the loan application process, making it more accessible and convenient for borrowers. Individuals can approach participating banks, NBFCs, or MFIs to apply for Mudra Loans.

Documents Required

Required in Soft Copy Only

Documents of Individual

  • PAN & AadharCard
  • Other ID Proof Driving license, Voter Id or Passport
  • Address Proof Bank Statement or Utility Bills - E.g.- Electricity Bill / Water Bill / Property Tax
  • Colour Photo
  • Email id and Mobile Number
Required in Soft Copy Only

Business Address Proof

  • Business Address Proof (Owned) Sale Deed ( Ownership Documents), Electricity Bill / Propert Tax
  • Business Address Proof (Rented) Rent Agreement , Electricity bill, NOC from Owner of the premises
Required in Soft Copy Only

Other Documents

  • Income proof
  • Business Plan Business idea, market analysis, financial projections, and other relevant details
  • Quotation or estimate of machinery, equipment, or other assets
  • Other Document Memorandum of Association (MOA), Articles of Association (AOA), etc

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