Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri Mudra Yojana launched in 2015 aims at providing credit of upto Rs 10 lakh to small entrepreneurs and act as a regulator for Micro-Finance Institutions (MFIs). Mudra Loan targets young educated or skilled workers and entrepreneurs including women entrepreneurs.

The scheme is designed to promote and ensure access of financial facilities to Non-Corporate Small Business Sectors (NCSBS) that will turn them into instruments of GDP growth and employment generation. The loans are easily accessible in three categories- 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. For more details on scheme please visit https://www.mudra.org.in/

Eligibility

Any Indian citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than Rs. 10 lakh can approach either a bank, MFI, or NBFC for availing the Mudra loan.

Loan Types -Amount

Maximum loan amount : Upto Rs 10 lacs

  • Loans upto Rs.50,000 are categorised as SHISHU
  • Loans from Rs.50,001 to Rs.500,000 are categorised as KISHORE
  • Loans from Rs.500,001/- to Rs.10,00,000/- are categorised as TARUN

What are the documents required for Mudra Loan?

ID Proof: Self Attested copy

  • Adhar
  • PAN
  • Driving License
  • Voter ID
  • Passport
  • ID Card issued by Government Departments

Address Proof: Self Attested

  • Adhar
  • Passport
  • Voter Id
  • Utility Bill- Electricity, Water, Gas, Telephone etc
  • Domicile Certificate
  • Latest Account Statement or Bank Passbook

Proof of Business

  • Registration Certificate
  • License Certificate
  • MSME Udyam Registation
  • GST Registration Certificate

Other Important Documents required to apply Mudra Loan

  • Photographs of Business Owners and Partners
  • Cast Certificate- SC/ST/OBC
  • Balance Sheet & ITR of last 3 years
  • GST Return
  • Bank Statement of 6 months
  • Sales/Revenue Details
  • Estimated balance sheet of next one year
  • Project Report or Business Report for getting loan