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PRADHAN MANTRI MUDRA YOJANA (PMMY)
 

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PRADHAN MANTRI MUDRA YOJANA (PMMY)

PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of Government of India, was launched on 8th April, 2015 by the Hon’ble Prime Minister to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.

Eligibility:

  • All “Non farm enterprises” 
  • under “Micro Enterprises” and “Small Enterprises” segment
  • engaged in “income generating activities
  • engaged in “manufacturing, trading and services“ and
  • whose “credit needs are up to Rs.10.00 lacs
  • Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01.04.2016.

Credit Facilities:

  • Any type of Fund Based or Non Fund Based facility.
  • No Minimum amount. Maximum Amount - Rs.10.00 lacs.

Categorization of MUDRA Loans:
 

Category

Stipulated Credit limits

SHISHU

Loans sanctioned under the scheme up to Rs.50000

KISHORE

Loans sanctioned under the scheme from  Rs.50001 to Rs.5.00 lacs

TARUN

Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs

Rate of Interest:
 

Limits

Micro Enterprises

Small Enterprises

Up to Rs.50000/-

MCLR+SP

(MCLR+SP)+0.50%

Above Rs.50000/- to Rs.2.00 lacs

(MCLR+SP)+0.50%

(MCLR+SP)+0.70%

Above Rs.2.00 lacs to Rs.10.00 lacs

(MCLR+SP)+0.70%

(MCLR+SP)+0.85%

Processing Charges: Nil

Security:

  • Assets created out of the Bank’s finance.
  • No collateral security.
  • Click here to download application form for MUDRA loans.-Hindi

    Click here to download application form for MUDRA loans.-English 

     

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