Mudra Yojana

The Union Cabinet approved the scheme for interest subvention of 2% to Shishu loan category borrowers under PMMY, outstanding as on March 31, 2020, for a period of 12 months to eligible borrowers.

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh 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 .

Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit/entrepreneur and also provide a reference point for the next phase of graduation/growth.

‘Shishu’ covers loans up to ₹50000, ‘Kishore’ cover loans above ₹50000 and upto ₹5lakhs, ‘Tarun’ cover loans above ₹5 lakh and up to ₹10 lakh.