Pradhan Mantri MUDRA Yojana (PMMY)

By | March 16, 2020

Pradhan Mantri MUDRA Yojana – Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Federal government of India to “fund the unfunded” by taking such enterprises to the formal financial system and extending affordable credit to them. Find out all Government Pradhan Mantri Mudra Yojna find out here.

It permits a tiny borrower to steal all Public Sector Banks such as PSU Banks, Local Rural Banks and Supportive Banks, Private Sector Banking companies, Foreign Banks, Micro Funding Institutions and Low Banking Finance Companies for loans up to Rs 10 lakhs for non-farm income making activities. The scheme was launched on 8th April 2015 by the Hon’ble Prime Minister.

Pradhan Mantri MUDRA Yojana

Check More – Pradhan Mantri Jeevan Jyoti Bima YojanaPradhan Mantri Gram Sinchai Yojana

What Is Pradhan Mantri Mudra Yojana In Hindi?

MUDRA (Micro Units Development and Refinance Agency) या नि की माइक्रो यूनिट्स डेवलपमेंट एंड रीफिनेंस एजेंसी.

प्रधान मंत्री मुद्रा योजना 8th April 2015 को प्रक्षेपित किया गया था| इस योजना का मुख्य हेतु महिला उद्योगी को आर्थिक सहाय करना था| 2 करोड़ 76 लाख महिला थी जिन्होंने 2015- 16 में प्रधान मंत्री मुद्रा योजना से बैंक लोन का लाभ मिला है|

Pradhan Mantri MUDRA Yojana Membership

मुद्रा योजना में लोन कहाँ से प्राप्त किया जा सकता है?

Any Indian resident who may have a business plan for a non-farm sector income making activity such as manufacturing, processing, trading or service sector and whose credit require is less than Rs 15 lakh can approach either a Bank, MFI, or NBFC for availing of Micro-Units Development & Refinance Agency Ltd. loans under PMMY.

Pradhan Mantri MUDRA Yojana 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 of Micro Units Development & Refinance Agency Ltd. (MUDRA) loans under Pradhan Mantri Mudra Yojana (PMMY).

Pradhan Mantri MUDRA Yojana Types of loans provided

Following loans are provided by MUDRA:

  • Tarun: covering loans above 5 lakh and up to 10 lakh
  • Kishor: protecting loans above 50, 000/- and up to 5 lakh
  • Shishu: covering loans up to 50, 000/-

The surgery has been named Tarun, Kishor and Shishu to signify the stage of growth/development and funding needs of the beneficiary micro unit as well as an entrepreneur and also provide a reference point for the phase of graduation as well as growth to look forward to. It will be ensured that at least 60% of the credit flows to Shishu Category Units and the balance to Kishor and Tarun Categories.

Generally, there is no subsidy for the money given under PMMY. Nevertheless, if the loan proposal is connected some Government scheme, whereby the Government is providing a capital subsidy, it will be eligible under PMMY also.

Sectors protected

To maximize coverage of beneficiaries and tailor products to meet requirements of specific business activities, the sector, as well as activity, focused schemes would be rolled out. To get started with, based on the higher concentration of businesses in certain activities as well as sectors, schemes are offered for:

Land Transport Sector / Activity – That may inter alia support products for the purchase of transfer vehicles for goods and personal transport such as auto rickshaw; small goods transport vehicle, 3 wheelers, e-rickshaw, cars, taxis, and many others.

Community, Social & Personal Service Activities – These kinds of as saloons, beauty parlors, gymnasium, boutiques, tailoring retailers, dry cleaning, cycle and motorcycle repair shop, DTP and Photocopying Facilities, Remedies Shops, Courier Agents, and so forth

Food Goods Sector – Support would be available for commencing activities such as papad making, achaar making, quickly pull / jelly making, gardening produce preservation at non-urban level, sweet shops, small service food stalls and day to day getting somebody to cook / canteen services, cool chain vehicles, cold storages, ice making units, snow cream making units, cookie, bread and bun making, etc.

Textile Products Sector / Activity – To provide support for executing activities such as handloom, power loom, chikan work, zari and zardozi work, traditional embroidery and handwork, traditional dyeing and impress, apparel design, knitting, silk cotton ginning, computerized embroidery, sewing and other textile no garment products such as bags, vehicle accessories, redecorating accessories, etc.

How to Apply for Pradhan Mantri MUDRA Yojana

मुद्रा बैंक लोन योजना के तहत लोन कैसे मिलेंगे

Borrowers, who wish to avail assistance under PMMY, can approach the local branch of some of the financial institutions in their region – PSU Banks, Territorial Rural Banks and Supportive Banks, Private Sector Banking companies, Foreign Banks, Micro Financing Institutions and No Banking Finance Companies. Sanction of assistance shall be in accordance with the eligibility norms of the respective lending institution.

Check More – Beti Bachao Beti Padhao Scheme

Pradhan Mantri MUDRA Yojana Documents to be submitted along with the application

  • Proof of identity
  • Proof of Residence
  • Applicant’s recent Photograph (2 copies) not older than six months.
  • Proof of Identification
  • Proof of category like SC / ST / OBC / Group etc.

Find out all Pradhan Mantri Scheme details find out here. So, above is all details step by step guide to Apply for Pradhan Mantri MUDRA Yojana. You can apply online as well as offline.

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