Title :

Pradhan Mantri Mudra Yojana

Description :

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme 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. Under the aegis of PMMY, MUDRA has created three products namely 'Shishu', 'Kishore' and 'Tarun' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

The Key benefits of this schema are:
1. The borrowers are not required to provide any collateral or security to avail of Mudra Loan.
2. There are no processing charges for availing of the loan.
3. The loans can be in the form of term loans, overdraft facility, letters of credit or bank guarantees, thus catering to a wide array of requirements.
4. The Mudra loan scheme does not prescribe any minimum amount.

Eligibility:
Must be an indian citizen and an entrepreneur/Micro-enterprise.

Documents Required:
The terms and conditions of the loan will be governed by the rules of the lending institution and the broad guidelines of RBI. The guidance regarding the documents needed may be obtained from any of the lending institutions in your locality.

How To Apply?:
Apply online through this portal or borrower can approach any of the lending institutions like Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.

Website :

Please click here

Start Date :

04/01/2015

Expiry Date :

12/31/2025