Pradhan Mantri Mudra Yojana
Department of Financial Service
Last updated:
Key dates and updates
Important milestones for this scheme. Use official links to verify before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
Overview
Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India. It facilitates micro credit/Loan upto Rs. 20 lakhs to income generating micro enterprises engaged in the non farm sector in manufacturing, processing, trading or service sector including activities allied to agriculture
Details
Pradhan Mantri Mudra Yojana PMMY is a flagship scheme of Government of India. The scheme facilitates micro credit/Loan up to Rs. 20 lakhs to income generating micro enterprises engaged in the non farm sector in manufacturing, trading or service sectors including activities allied to agriculture such as poultry, dairy, beekeeping, etc. The Scheme provides financial assistance extended by Member Lending Institutions to the non-corporate, non-farm sector income generating activities of micro and small entities. These micro and small entities comprise of millions of proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others. The loans under Pradhan Mantri Mudra Yojana can be availed through eligible Member Lending Institutions MLIs , which include: - Public Sector Banks - Private Sector Banks - State operated cooperative banks - Rural banks from regional sector - Micro Finance Institution MFI - Non-Banking Finance Company NBFC - Small Finance Banks SFBs - Other financial intermediary approved by Mudra Ltd. as member financial institutions Interest rate The interest rates are declared by Member Lending Institutions from time to time as per Reserve Bank of India guidelines based on which applicable interest rate is determined. Upfront fee/Processing charges Banks may consider charging of upfront fee as per their internal guidelines. The upfront fee/processing charges for Shishu loans Covering loans upto Rs. 50,000/- are waived by most Banks. Note : There are no agents or middleman engaged by MUDRA for availing of Mudra Loans. The borrowers are advised to keep away from persons posing as Agents/ facilitators of MUDRA/PMMY.
Benefits
• The scheme has been classified under four categories as 'SHISHU', 'KISHORE' , 'TARUN' and 'TARUN PLUS' to signify the stage of growth / development and funding needs of the beneficiary micro unit/ entrepreneur.
• Shishu: Covering loans upto Rs.50,000/-.
• Kishore: Covering loans above Rs.50,000/- and upto Rs. 5 lakhs.
• Tarun: Covering loans above Rs. 5 lakhs and upto Rs. 10 lakhs.
• Tarun Plus : Loans up to Rs. 20 lakh for enterpreneurs who have successfully repaid previous loans under the 'Tarun' category.
Eligibility Criteria
1. ##### Eligible borrowers
2. - Individuals
3. - Proprietary concern.
4. - Partnership Firm.
5. - Private Ltd. Company.
6. - Public Company.
7. - Any other legal forms.
8. **Note 01:**The applicant should not be a defaulter to any bank or financial institution and should have a satisfactory credit track record.
9. **Note 02:** The individual borrowers may be required to possess the necessary skills/experience/ knowledge to undertake the proposed activity.
10. **Note 03:** The need for educational qualification, if any, is assessed based on the nature of the proposed activity and its requirement.
Application Process
Step 1: The following are the pre-requisites for the enrolment process:
Online
ID Proof
Address Proof
Passport size photograph
Applicant Signature
Proof of Identity / Address of Business Enterprises
Step 2: Step 01: Go to PM MUDRA official website and after that select the Udyamimitra portal
Online
Step 01: Go to PM MUDRA official website and after that select the Udyamimitra portal
Step 3: Step 02: Click on Mudra loan "Apply Now"
Online
Step 02: Click on Mudra loan "Apply Now"
Step 4: Step 03: Select one of the following : New entrepreneur/ Existing Entrepreneur/Self-employed professional
Online
Step 03: Select one of the following : New entrepreneur/ Existing Entrepreneur/Self-employed professional
Step 5: Step 04: Then fill in the name of the applicant, email and Mobile number and Generate OTP
Online
Step 04: Then fill in the name of the applicant, email and Mobile number and Generate OTP
Step 6: Step 01: Fill in Personal Details and Professional Details.
Online
Step 01: Fill in Personal Details and Professional Details.
Required Documents
• Proof of Identity – Self- attested copy of Voter’s ID Card / Driving Licence / PAN Card / Aadhaar Card / Passport / Photo IDs issued by Govt. authority etc.
• Proof of Residence: Recent telephone bill / electricity bill / property tax receipt (not older than 2 months) / Voter’s ID Card / Aadhar Card / Passport of Individual / Proprietor / Partners Bank passbook or latest account statement duly attested by Bank Officials / Domicile Certificate / Certificate issued by Govt. Authority / Local Panchayat / Municipality etc.
• Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
• Quotation of Machinery / other items to be purchased.
• Name of supplier / details of machinery / price of machinery and / or items to be purchased.
• Proof of Identity / Address of the Business Enterprise – Copies of relevant Licences / Registration Certificates / Other Documents pertaining to the ownership, identity of address of business unit, if any.
• Proof of Identity - Self attested copy of Voter’s ID card / Driving License / PAN Card / Aadhar Card/Passport.
• Proof of Residence - Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
• Applicant’s recent coloured Photograph (2 copies) not older than 6 months.
• Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit.
• Applicant should not be defaulter in any Bank/Financial institution.
• Statement of accounts (for the last six months), from the existing banker, if any.
• Last two years balance sheets of the units along with income tax/sales tax return etc. (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).
• Sales achieved during the current financial year up to the date of submission of application.
• Project report (for the proposed project) containing details of technical & economic viability.
• Memorandum and Articles of Association of the company/Partnership Deed of Partners etc.
• In absence of third party guarantee, Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth.
Frequently Asked Questions
Q: Is Khadi Activity Eligible Under PMMY Loans?
A: Yes. MUDRA loans are applicable for any activity which results in income generation. As Khadi is one of the eligible activities under Textile sector and in case MUDRA loans are taken for income generation, the same can be covered.
Q: Are MUDRA Loans Available For Purchase Of CNG Tempo/Taxi?
A: MUDRA loans would be available for purchase of CNG Tempo/Taxi, in case the applicant intends to use the vehicle for commercial purposes.
Q: I Have A Savings Bank Account With the Bank, Would Loan Under MUDRA Be Available Based On The SB Account?
A: Yes. The applicant can approach the branch and apply for the loan in the format being provided by the said lending institution. The terms and conditions of the loan will be governed by the policies of the lending institution, based on the broad guidelines of RBI. The loan amount will be decided by the requirement of the proposed income generating activity and the repayment terms will be decided by the anticipated cash flow from the activity.
Q: Under PMMY-Shishu Loans, What Is The Turn Around Time For Processing The Loan Proposal?
A: As per Banking Codes and Standard Board of India (BCSBI), set up by RBI, loan applications should be disposed off for credit limit up to Rs.5 lakh within 2 weeks.
Q: Is It Required To Submit Income Tax Returns For The Preceding 2 Years For Availing Loan Of Rs. 20 Lakh Under PMMY?
A: Generally, IT returns are not insisted for small value loans. However, the requirement of documents will be advised by the concerned lending institutions based on their internal guidelines and policies.
Eligibility Criteria
##### Eligible borrowers
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
- Individuals
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
Non-corporate, non-farm small and micro enterprises. Proprietors, partners, or those engaged in activities covered under Mudra.
- Proprietary concern.
- Partnership Firm.
- Private Ltd. Company.
- Public Company.
- Any other legal forms.
**Note 01:**The applicant should not be a defaulter to any bank or financial institution and should have a satisfactory credit track record.
**Note 02:** The individual borrowers may be required to possess the necessary skills/experience/ knowledge to undertake the proposed activity.
**Note 03:** The need for educational qualification, if any, is assessed based on the nature of the proposed activity and its requirement.
Benefits
The scheme has been classified under four categories as 'SHISHU', 'KISHORE' , 'TARUN' and 'TARUN PLUS' to signify the stage of growth / development and funding needs of the beneficiary micro unit/ entrepreneur.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Shishu: Covering loans upto Rs.50,000/-.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Loans up to Rs. 10 lakh without collateral under Shishu, Kishore, and Tarun categories.
Kishore: Covering loans above Rs.50,000/- and upto Rs. 5 lakhs.
Tarun: Covering loans above Rs. 5 lakhs and upto Rs. 10 lakhs.
Tarun Plus : Loans up to Rs. 20 lakh for enterpreneurs who have successfully repaid previous loans under the 'Tarun' category.
Required Documents
| # | Document |
|---|---|
| 1 | Proof of Identity – Self- attested copy of Voter’s ID Card / Driving Licence / PAN Card / Aadhaar Card / Passport / Photo IDs issued by Govt. authority etc. |
| 2 | Proof of Residence: Recent telephone bill / electricity bill / property tax receipt (not older than 2 months) / Voter’s ID Card / Aadhar Card / Passport of Individual / Proprietor / Partners Bank passbook or latest account statement duly attested by Bank |
| 3 | Applicant’s recent coloured Photograph (2 copies) not older than 6 months. |
| 4 | Quotation of Machinery / other items to be purchased. |
| 5 | Name of supplier / details of machinery / price of machinery and / or items to be purchased. |
| 6 | Proof of Identity / Address of the Business Enterprise – Copies of relevant Licences / Registration Certificates / Other Documents pertaining to the ownership, identity of address of business unit, if any. |
| 7 | Proof of Identity - Self attested copy of Voter’s ID card / Driving License / PAN Card / Aadhar Card/Passport. |
| 8 | Proof of Residence - Recent telephone bill, electricity bill, property tax receipt (not older than 2 months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors. |
| 9 | Applicant’s recent coloured Photograph (2 copies) not older than 6 months. |
| 10 | Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit. |
| 11 | Applicant should not be defaulter in any Bank/Financial institution. |
| 12 | Statement of accounts (for the last six months), from the existing banker, if any. |
| 13 | Last two years balance sheets of the units along with income tax/sales tax return etc. (Applicable for all cases from Rs.2 Lacs and above). |
| 14 | 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). |
| 15 | Sales achieved during the current financial year up to the date of submission of application. |
| 16 | Project report (for the proposed project) containing details of technical & economic viability. |
| 17 | Memorandum and Articles of Association of the company/Partnership Deed of Partners etc. |
| 18 | In absence of third party guarantee, Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth. |
How to Apply
The following are the pre-requisites for the enrolment process:
Online ID Proof Address Proof Passport size photograph Applicant Signature Proof of Identity / Address of Business Enterprises
Step 01: Go to PM MUDRA official website and after that select the Udyamimitra portal
Online Step 01: Go to PM MUDRA official website and after that select the Udyamimitra portal
Step 02: Click on Mudra loan "Apply Now"
Online Step 02: Click on Mudra loan "Apply Now"
Step 03: Select one of the following : New entrepreneur/ Existing Entrepreneur/Self-employed professional
Online Step 03: Select one of the following : New entrepreneur/ Existing Entrepreneur/Self-employed professional
Step 04: Then fill in the name of the applicant, email and Mobile number and Generate OTP
Online Step 04: Then fill in the name of the applicant, email and Mobile number and Generate OTP
Step 01: Fill in Personal Details and Professional Details.
Online Step 01: Fill in Personal Details and Professional Details.
Frequently Asked Questions
Yes. MUDRA loans are applicable for any activity which results in income generation. As Khadi is one of the eligible activities under Textile sector and in case MUDRA loans are taken for income generation, the same can be covered.