Pradhan Mantri Mudra Yojana (PMMY) is a scheme introduced by
Prime Minister Narendra Modi on April 8, 2015 for providing loans up to Rs 10 lakh to the non-corporate, micro/non-farm small enterprises.
These loans are provided by commercial banks, regional rural banks (RRBs), small finance banks, non-banking financial companies (NBFCs) and mutual fund institutions (MFIs).
The borrower can reach out to any of the lending institutions mentioned above or can apply online via
official portal.
Under the aegis of PMMY, Mudra has created three products known as 'Shishu', 'Kishore' and 'Tarun' to signify the level of growth/development and funding requirements of the beneficiary micro unit/entrepreneur and also provide a reference point for the next stage of graduation/growth.
Types of Mudra loansShishu: Covering loans up to Rs 50,000
Kishor: Offering loans above Rs 50,000 and up to Rs 5 lakh
Tarun: Offering loans above Rs 5 lakh and up to Rs 10 lakh
According to the official portal, as of September 30, 2022; the number of PMMY loans sanctioned in the financial year 2022-23 are 21682870. The amount sanctioned is Rs 156312.25 crore and the amount disbursed is Rs 149685.53 crore so far.
Steps to fill online application form for Pradhan Mantri Mudra YojanaFollow the below mentioned simple step-by-step guide to know about how to apply for loan under PMMY;
Steps:- Step 1
Visit the official website
- Step 2
On the homepage, click on 'Apply Now' LOAN APPLICATION IN EASY STEPS FORBUSINESS ENTERPRISES AND MSMEs.
- Step 3
On a new window, select 'New Entrepreneur' for new registration and fill up the sections like Name of Applicant, Email & Mobile Number and click on 'Generate OTP'.
- Step 4
You will receive an OTP on the mentioned mobile number, enter the OTP in the given space.
- Step 5
Your profile will be created; fill in the personal details, as asked in the application form.
- Step 6
Cross-check all the details carefully after filling the form and click on 'Submit'.
- Step 7
Your PM Mudra Yojana application form will be submitted online.