Pradhan Mantri MUDRA Yojana (PMMY)
Vision : To be an integrated financial and support services provider par excellence benchmarked with global best practices and standards for the bottom of the pyramid universe for their comprehensive economic and social development.
Mission : To create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security
About:
- Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 20 lakh (for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category) 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.
- The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in .
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MUDRA Ltd. offers four categories of loans under PMMY:
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Shishu: Loans up to ₹50,000
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Kishore: Loans above ₹50,000 and up to ₹5 lakh
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Tarun: Loans above ₹5 lakh and up to ₹10 lakh
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Tarun Plus: Loans above ₹10 lakh and up to ₹20 lakh
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Source : https://www.mudra.org.in/