Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to Rs10 lakh to the non-corporate, non-farm small/micro enterprises.
Within the framework and overall objective of development and growth of micro enterprises sector, MUDRA Loans are so designed, to meet requirements of different sectors / business activities as well as business / entrepreneur segments.
- Shishu: loans up to Rs 50,000/-
- Kishor: loans between Rs 50,000 and Rs 5 lakh
- Tarun: loans between Rs 5 lakh and Rs 10 lakh
Eligibility Criteria
Mudra loans extend credit to non-farm enterprises in manufacturing, trading and services whose credit needs are below Rs. 10 lakhs
Based on the stage of growth / development and funding needs of the micro unit / entrepreneur, the beneficiary can avail of the following types of loans:
- Shishu – Loans up to 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
- Valid photo identity proof
- Current address proof
- Proof of income – Latest ITR Financial Docs of Income
- Last 6 months Bank statement
- Loan application form
- Ownership proof of residence/office
- Proof of continuity of business
- Trade references
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