Pradhan Mantri Mudra Loan Yojana


The Pradhan Mantri Mudra Loan Yojanaor PMMY is a flagship scheme of the Government of India to extend affordable credit to micro and small enterprises.
Mudra loans are designed to bring enterprises into the formal financial system, or to “fund the unfunded”. Loans under PMMY scheme are available to non-farm micro or small enterprises engaged in income generation through manufacturing, trading and services. Enterprises involved in allied agricultural activities can also apply for Mudra loans.

Benefits : Pradhan Mantri Mudra Loan Yojana

  • The Pradhan Mantri Mudra Loan Yojana offers credit facilities to micro and small enterprises engaged in income generation.
  • One of the key benefits of a Mudra loan is that borrowers are not required to provide security or collateral. Additionally, there are no processing charges on Mudra loans.
  • The credit facilities extended under the PMMY can be for any type of fund or non-fund based requirements. Hence, borrowers can use the Mudra loan scheme for a variety of purposes. The credit from Mudra loans can be used for term loans and overdraft facilities, or to apply for letters of credit and bank guarantees.
  • There is no minimum loan amount for Mudra loans.

Pradhan Mantri Mudra Loan Yojana Objective

The main objective of this scheme is that a lot of people in the country want to start your own business but do not start due to lack of money has started to plan the central government to the people , Prime Minister currency loan scheme Under 2021 , beneficiaries can start their own small business by taking Mudra loans.

There Are Three Types Of Mudra Loans Depending On The Loan Amount:

  • Shishu : Loans sanctioned under the PMMY scheme up to Rs.50000
  • Kishore : Loans sanctioned under the PMMY scheme from Rs.50001 up to Rs.5.00 lakh
  • Tarun : Loans sanctioned under the PMMY scheme Rs.5,00,001 up to Rs.10.00 lakh
  • While there is no minimum loan amount under the Mudra loan scheme, the maximum loan amount that can be taken under the PMMY is Rs.10 lakh.
  • Borrowers don’t need to pay processing charges or offer collateral if they avail a Mudra loan
  • As per the PMMY scheme, the Mudra loan can not only be offered to enterprises in the non-farm sector but also can include those engaged in allied agricultural activities, such as horticulture and fisheries.
  • The interest rate on Mudra loans is determined by the Marginal Cost of Lending Rate or MCLR, which is calculated according to the RBI guidelines
  • 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.

Pradhan Mantri Mudra Loan Yojana Documents List

  • ‌People who start small business and who want to grow their small business can also apply for loan under this Pradhan mantri Mudra Loan Scheme 2020.
  • ‌The person taking loan should not be less than 18 years of age.
  • Applicant should not be a defaulter in any bank
  • Aadhar Card
  • Pan Card
  • Permanent address of application
  • Business address and proof of establishment
  • Balance Sheet for last three years
  • ‌Income Tax Returns or Self tax Returns
  • ‌Passport size photo

Pradhan Mantri Mudra Loan Yojana Applying Procedure

  1. ‌Go to the official website of Mudra Yojana.
  2. ‌Now the home page will open in front of you.
  3. On the home page you will see the types of Mudra Yojana which is something like this.
  4. ‌After this, a new page will open in front of you.
  5. ‌You have to download the application form from this page.
  6. After this you will have to take a print out of th is application form.
  7. ‌Now you have to fill all the important information asked in the application form carefully.
  8. ‌After this you have to attach all the important documents.
  9. Now you have to submit this application form to your nearest bank.
  10. After verification of your application, you will be given a loan within 1 month.

Pradhan Mantri Mudra Loan Yojana 

  • Loan Application form for Kishor and Tarun : DOWNLOAD
  • Application Form for Shishu :  DOWNLOAD
  • Check list for Shishu Application : DOWNLOAD

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