Pradhan Mantri MUDRA Yojana (PMMY), launched by the Government of India in April 2015, aims to provide financial support to micro and small enterprises across the country. This scheme addresses the financial needs of the unbanked and underbanked sectors, facilitating their growth and development.
You can start your own business
The primary objective of PMMY is to offer loans to non-corporate, non-farm small/micro enterprises. The scheme operates through Mudra (Micro Units Development and Refinance Agency) which provides funding support to eligible financial institutions for on-lending to these small enterprises. PMMY encompasses three products tailored to different business needs:
How much loan will be available under the scheme?
Shishu: Loans up to ₹50,000 for startups and new businesses.
Kishore: Loans from ₹50,001 to ₹5 lakhs for growing businesses.
Tarun: Loans from ₹5 lakhs to ₹10 lakhs for established enterprises needing further expansion.
How to apply online?
- To apply for PM Mudra Loan Online, you have to go to its official website.
- You will see three options Shishu, Tarun, and Kishor.
- Whatever type of loan you want to take, then click on that option.
- The link to the application form related to it will open in front of you.
- Now here you have to download the application form for the PM Mudra Loan Scheme
- read all the information asked in the application form carefully and fill it out correctly.
- After filling out the application form completely, you will have to attach all the necessary documents.
- Take this application form and submit it to your nearest bank.
- After the approval of your application by the bank employees, you will be given the benefit of the PM Mudra Loan Scheme.
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Positive Takeaway
Pradhan Mantri MUDRA Yojana (PMMY) has significantly boosted financial inclusion by providing easy access to credit for small and micro enterprises. This has led to job creation, promoted entrepreneurship, and empowered women entrepreneurs. The scheme has reduced reliance on informal lending, supported the non-corporate sector, and encouraged innovation, driving inclusive economic growth and strengthening the microfinance ecosystem in India.
