Pradhan Mantri Mudra Yojana

Brief

The scheme was launched on 8th April 2015. Under the scheme a loan of up to Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’. Loans taken do not require collaterals. These measures are aimed at increasing the confidence of young, educated or skilled workers who would now be able to aspire to become first-generation entrepreneurs; existing small businesses, too, will be able to expand their activities.

Eligibility

• Eligible borrowers : Individuals
• Proprietary concern.
• Partnership Firm.
• Private Ltd.
• Company.
• Public Company.
• Any other legal forms.
• The applicant should not be defaulter to any bank or financial institution and should have a satisfactory credit track record. The individual borrowers may be required to possess the necessary skills experience knowledge to undertake the proposed activity. The need for educational qualification, if any, needs to be assessed based on the nature of the proposed activity, and its requirement

Fund / quantum

• Sanctioned Amount in 2023: 311811.38 Cr

Tenure

• Active

Benefit tags

• Cash Benefit Schemes

Notes

• The scheme was launched on 8th April 2015. Under the scheme a loan of up to Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’. Loans taken do not require collaterals. These measures are aimed at increasing the confidence of young, educated, or skilled workers who would now be able to aspire to become first-generation entrepreneurs; existing small businesses, too, will be able to expand their activities. As of 20.08.2021, Rs. 16,22,203 crores sanctioned in 30.7 crores accounts.

• The benefits under the scheme have been classified under three categories as 'SHISHU','KISHOR'and'TARUN'to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur.
• Shishu: Covering loans up to Rs. 50,000/-
• Kishor: Covering loans from Rs. 50,001 to Rs. 5,00,000/-
• Tarun: Covering loans from Rs. 5,00,001 to Rs. 10,00,000/-

• Eligible borrowers : Individuals

• Proprietary concern.

• Partnership Firm.

• Private Ltd.

• Company.

• Public Company.

• Any other legal forms.

• The applicant should not be defaulter to any bank or financial institution and should have a satisfactory credit track record. The individual borrowers may be required to possess the necessary skills experience knowledge to undertake the proposed activity. The need for educational qualification, if any, needs to be assessed based on the nature of the proposed activity, and its requirement

• Sanctioned Amount in 2023: 311811.38 Cr

• Active

Online / portal

Official application / information link: https://www.mudra.org.in/

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html