SBB480

Pradhan Mantri Mudra Yojana

Pradhan Mantri Mudra Yojana provides loans of up to 10 lakh to non-corporate, non-farm small and micro enterprises in India. Eligible Indian citizens with viable business plans in sectors like manufacturing, processing, trading, or services can apply through banks, MFIs, or NBFCs, adhering to the lending agency's terms and RBI guidelines.

Central

States / UT: All India

Ministry / nodal: Public Sector Enterprise

Scheme for: Startups

Scheme profile

DBT (direct benefit transfer): No

Target beneficiaries: Startups

Tags: startups, Non-Farm, Non-Corporate

Details

Brief

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015, for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs, and NBFCs.

Eligibility

  • Any Indian Citizen who has a business plan for a non-farm income generating activity such as manufacturing, processing, trading or service sector whose credit need is up to 10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY. The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time.

Benefits

  • - Loans up to 10 Lahks to the non-corporate, non-farm small/micro enterprises
  • Loans up to 10 Lahks to the non-corporate, non-farm small/micro enterprises.

Eligibility

  • Any Indian Citizen who has a business plan for a non-farm income generating activity such as manufacturing, processing, trading or service sector whose credit need is up to 10 lakh can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY. The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time.

Application Process

Online / portal

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

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

References

Apply

Apply now

Opens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.

Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status