PRADHAN MANTRI MUDRA YOJANA (PMMY)

On April 8, 2015 the Hon’ble Prime Minister launched the Pradhan Mantri MUDRA Yojana (PMMY) with a mission to create an inclusive, sustainable and value based entrepreneurial culture.

The scheme aims at providing loans to Small Business activities under Manufacturing, Service, Small Business and Trade (non-farm enterprises) & covered under the following three sub-categories based on loan limit:

Category

Loan Limit

Key Feature

Shishu

Up to Rs 50000/-

  • Meant for non-farm enterprises in manufacturing, trading & services
  • Hassle free, flexible credit product
  • No collateral
  • Term & working capital loan
  • Repayment in maximum period extended up to 5 years

Kishore

Rs 50001 to Rs 5 lakh

Tarun

Above Rs 5 lakh & up to Rs 10 lakh

 

Margins Shishu Loan : Not Applicable
Kishore and Tarun Loans : 10%
Rate of Interest

Interest will be charged at prevailing rate on daily reducing balance at monthly rest.

Useful Links

RBI NABARD IBA BCSBI NPCI Rupay