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Pradhan Mantri Mudra Yojana (PMMY)


Pradhan Mantri Mudra Yojana (PMMY) is aimed to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions and creating an ecosystem of growth for micro enterprises sector.

Basically, MUDRA Yojana is an initiative to fund the small business in India. The Indian Central Government has already disbursed Rupees 1 Lakh Crore in loans under the scheme across India. According to the official website of MUDRA, 26421492 number of loans has been sanctioned under MUDRA Yojana till February 5, 2016.

What is MUDRA

Micro Units Development & Refinance Agency Ltd. (MUDRA) is an institution for development and refinancing micro finance institutions such as banks, NBFCs, MFIs and Other financial intermediaries, which are in the business of lending to manufacturing, processing, trading and service sector activities whose credit needs is less than Rs. 10 lakh.

MUDRA provides refinance Support to banks, NBFCs / MFIs for PMMY. Other than the refinance product, MUDRA will also provide development support to the sector through other products. The other product offerings as depicted in the diagram below will be targeted across the spectrum of beneficiary segments.

How to Get a Loan Under Pradhan Mantri MUDRA Yojana

Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches across the country. However there is certain eligibility criteria to get a loan under MUDRA Yojana. Any individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY loans.

Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has formulated three Schemes to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur:

Shishu: Loans upto Rs. 50,000/-
Kishor: Loans above Rs. 50,000/- and up to Rs. 5 lakh
Tarun: Loans above Rs. 5 lakh and up to Rs.10 lakh
The MUDRA loans under the PMMY can be taken from the approved Non Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Public/Private Sector commercial banks and Regional Rural Banks (RRBs) across India. The loans will be sanctioned by the lending institutions as per the eligibility.

The borrowers who wish to avail MUDRA loan assistance under PMMY can contact directly to the banks, partnered financial institutions and non banking finance companies or the MUDRA nodal officers.

MUDRA has identified a total of 97 Nodal Officers across the country at various SIDBI regional/branch offices to act as “First Contact Person” for MUDRA.

Eligibility Criteria / Documents required for MUDRA Loan

  • Self certified copy of identity proof such as Voter ID card / PAN Card / Aadhar Card / Passport / Driving License.
  • Residence proof which may contain recent telephone or electricity bill, property tax receipt (not older than 2 months).
  • Voter’s ID card, Aadhar Card & Passport of the borrower can also act as proof of residence.
  • Proof of SC/ST/OBC/Minority.
  • Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit.
  • The applicant should not be a defaulter in any Bank/Financial institution.
  • Statement of accounts (for the last six months), from the existing banker, if any.
  • Balance sheets of the units along with income tax/sales tax return etc of the last 2 years. (Applicable for all cases from Rs. 2 Lacs and above).
  • Projected balance sheets for one year in case of working capital limits and for the period of the loan in case of term loan (Applicable for all cases from Rs. 2 Lacs and above).
  • Project report (for the proposed project) containing details of technical & economic viability.
  • Sales achieved during the current financial year up to the date of submission of application.
  • Memorandum and articles of association of the company/Partnership Deed of Partners etc.
  • Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth in the absence of third party guarantee.
  • 2 copies of Photographs of each Proprietor/ Partners/ Directors.

  • Who can avail the MUDRA loan under PMMY

    All non-farm sector income generating activities such as manufacturing, trading and services whose credit needs below Rs. 10 lakh are known as MUDRA Loans under Pradhan Mantri Mudra Yojana (PMMY).

    More : Government Welfare Schemes

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