PM Mudra Yojana Loan Scheme
Provides loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises for business setup and expansion.
Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme launched in 2015 by the Ministry of Finance to provide loans up to Rs 10 lakh to non-corporate, non-farm small and micro entrepreneurs. The scheme enables small business owners to access affordable credit from banks for their income-generating activities.
Three Categories
The scheme offers three loan categories: Shishu (loans up to Rs 50,000 for start-ups), Kishore (Rs 50,001 to Rs 5 lakh for established businesses) and Tarun (Rs 5,00,001 to Rs 10 lakh for growing enterprises). Each category has different documentation and repayment terms.
Eligibility
Small entrepreneurs, artisans, traders, service providers and small business owners are eligible. The scheme covers manufacturing, processing, trading and service sector businesses. No collateral required for loans up to Rs 10 lakh under MUDRA.
Benefits
Collateral-free loans up to Rs 10 lakh. Affordable interest rates. Flexible repayment options. Doorstep banking through bank Mitras. Priority sector lending classification.
Frequently Asked Questions
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