Mudra Yojana

**Pradhan Mantri Mudra Yojana (PMMY)** provides loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.

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Steps to Apply

1Visit nearest bank branch
2Submit Mudra loan application
3Provide business proposal
4Submit required documents
5Complete verification process

Eligibility

Small business owners
Individuals starting new business
Existing small businesses
Non-corporate small business entities

Benefits

Shishu: Loans up to ₹50,000
Kishore: Loans up to ₹5 lakh
Tarun: Loans up to ₹10 lakh
No collateral required
Lower interest rates

Requirements

Identity proof
Address proof
Business plan
Quotations of machines/items to be purchased
Previous business details (if any)

Frequently Asked Questions

What are the different categories of Mudra loans?

There are three categories: Shishu (up to ₹50,000), Kishore (up to ₹5 lakh), and Tarun (up to ₹10 lakh).

Is collateral required for Mudra loan?

No collateral is required for loans under Mudra Yojana.

How long does the loan disbursal take?

The loan disbursal usually takes 7-10 business days after the verification process.

Can I apply for Mudra loan online?

Yes, Mudra loans can be applied for online through the Mudra portal.

Disclaimer

The information provided here is based on publicly available resources. We strive to keep it up to date, but it is always advisable to consult official documentation or contact the relevant authorities to verify the details before making any decisions or taking action.

We are not liable for any discrepancies, damages, or consequences that may arise from the use of this information. Additionally, we do not take responsibility for any SMSD (Short Message Service Delivery) issues or related concerns that may arise from our services.

More About This Scheme

PMMY has been crucial in funding the unfunded and promoting entrepreneurship at the grassroots level. The scheme has particularly benefited women entrepreneurs and small business owners.