Pradhan Mantri MUDRA Yojana (PMMY)

Pradhan Mantri MUDRA Yojana (PMMY)

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

the above backdrop the Micro Units Development & Refinance Agency Ltd (MUDRA) was set up by the Government of India (GoI). MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. Presently, the authorized capital of MUDRA is 1000 crores and paid up capital is 750 crore, fully subscribed by SIDBI. More capital is expected to enhance the functioning of MUDRA.

This Agency would be responsible for developing and refinancing all Micro-enterprises sector by supporting the finance Institutions which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities. MUDRA would partner with Banks, MFIs and other lending institutions at state level / regional level to provide micro finance support to the micro enterprise sector in the country.

Micro Finance is an economic development tool whose objective is to provide income generating opportunities to the people at the bottom of the pyramid. It covers a range of services which include, in addition to the provision of credit, many other credit plus services , financial literacy and other social support services.
Roles and Responsibilities of MUDRA

MUDRA has been formed with primary objective of developing the micro enterprise sector in the country by extending various support including financial support in the form of refinance, so as to achieve the goal of “funding the unfunded”. The GOI Press release of 2 March 2015 has laid down the roles and responsibilities of MUDRA.

Subsequently GOI has also decided that MUDRA will provide refinance support, monitor the PMMY data by managing the web portal, facilitate offering guarantees for loans granted under PMMY and take up other activities assigned to it from time to time. Accordingly MUDRA has been carrying out these functions over the last one year



Repayment period 3 –5 years





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• Description of machinery to be purchased.
The borrowers will also have to provide details of the machinery supplier.


2. Teens
Under the Mudra loan, those business entrepreneurs in Kishore received Rs. Loans up to 5 lakh are given to those who want additional money to expand their operations.
Checklist
• Statement of current banker for last 6 months, if any.
• Balance sheet of last 2 years.
• Income / Sales Tax Return.
• Estimated balance sheet for 1 year or loan period.
• Memorandum and Articles of Association, if any.
• Sales prior to filing loan application and in the current FY.
Borrowers will also have to submit a report on the economic and technical feasibility of the business.







Important Links:


Click to Official websites: click hare


Official Website: Link 1 , Link-2 , Link-3


Common Loan Application form for Kishor and Tarun: Form Gujarati


Application Form for Shishu: Link-1 , Link-2


Full Details Gujarati: Link-1, Link-2








3. Tarun
Under the Pradhan Mantri Mudra Loan Scheme, if the owner of the business meets certain eligibility criteria, then the 'Tarun' category will be Rs. Up to 10 lakhs can be approved.
Checklist
• Like a teenager.
In addition to the above, the borrower must also provide:
• Certificate of SC, ST, OBC, etc.
• Address proof


• Identity proof