Pradhan Mantri MUDRA Yojana Apply Online 2020

Pradhan Mantri Mudra Yojana

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Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by Prime Minister Narendra Modi on April 8, 2015, for offering loans as much as 10 lakh to the non-corporate, non-farm small/micro-enterprises. These loans are categorized as MUDRA loans beneath PMMY.

These loans are given by  Small Finance Banks,  Commercial Banks, MFIs, NBFCs, and RRBs.The borrower can go to any of the lendings banks talked above or can apply online via this portal Udyamimitra

Under the aegis of PMMY, MUDRA has created three merchandise particularly ‘Shishu’, ‘Kishore’ and ‘Tarun’ to indicate the stage of progress/improvement and funding wants of the beneficiary micro unit/entrepreneur.

Scheme Overview

Name of the SchemePradhan Mantri MUDRA Yojana(PMMY)
Scheme Launched byPrime Minister Narendra Modi
Launched yearApril 8, 2015
Targeted BeneficiariesAll the medium & small businesses and new startups
Objective of the scheme help financially to the young businessmen and entrepreneur
Mode of Applicationonline/offline
When to ApplyAvailable now
official Websitehttps://www.mudra.org.in/
Supervised ByMinistry of Finance

Types of PMMY loan

  1. Shishu: Covering Loans up to 50,000
  2. Kishore: Covering Loans from Rs 50,000 to Rs 5,000,00
  3. Tarun: Loans starts from 5,000,00 to 10,000,00

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Eligibility Criteria for Pradhan Mantri Mudra Yojana

Pradhan Mantri MUDRA Yojana (PMMY) loans prolong credit score to non-farm enterprises in manufacturing, buying and selling and providers whose credit score needs are under Rs. 10 lakhs
Based on the stage of progress/growth and funding needs of the micro-unit / entrepreneur, the beneficiary can avail of the next kinds of loans:

Shishu – Loans as much as Rs. 50,000/-
Kishor – Loans between Rs. 50,000 and Rs. 5 lakh
Tarun – Loans between Rs. 5 lakh and Rs. 10 lakh

Documents Required for Pradhan Mantri Mudra Yojana

  • Valid photo identity proof
  • Current address proof
  • Last 6 months Bank statement
  • Loan application form
  • Proof of income certificate – Latest ITR Financial Income
  • Ownership proof of residence/office
  • Proof of sustaining your business
  • Trade references