Under the Pradhan Mantri Mudra Yojana, the entrepreneurs of the country are being provided assistance in providing loan from the bank at concessional rates to start their own industry. Pradhan Mantri Mudra Yojana was started by the Prime Minister of our country Shri Narendra Modi on 8th April 2015.
Any interested beneficiary who wants to start his own industry and take loan from the bank to further his industry, those beneficiaries can apply under Pradhan Mantri Mudra Yojana. Today we are providing all the information about this scheme like registration process, documents, eligibility. , application etc. are going to share with you in this article.
Pradhan Mantri Mudra Yojana 2023
Under the Pradhan Mantri Mudra Yojana, the central government is providing loans up to 10 lakhs by the bank to the beneficiaries who want to start their own business and want to take the business forward. No guarantee is required to take a Mudra loan and Mudra The period of 5 years has been extended to repay the loan. Pradhan Mantri Mudra Yojana is classified into three parts Shishu loan, Kishor loan, Tarun loan. Under the scheme, the government has included 18.87 crore beneficiaries till March 2019 and so far Rs 9.27 lakh crore has been allocated under the scheme.
Pradhan Mantri Mudra Yojana 2023 – Overview
| Scheme Name | Pradhan Mantri Mudra Loan Yojana |
| Launched by | Shri Narendra Modi |
| Scheme Start Date | Year 2015 |
| Nodal Agency | Micro Units Development & Refinance |
| Agency Beneficiary | Small and Medium Enterprise Startups |
| Goal | To strengthen the Economy |
| Loan amount | up to Rs.10 lakh |
| Application Mode | Offline |
| Start Filling Application Form | Available Now |
| Type of scheme | Central Govt. Scheme |
| Launched by | https://www.mudra.org.in/ |
Objective of Pradhan Mantri Mudra Yojana
The people of our country who want to start their own industry but due to financial constraints are unable to start the industry, providing financial assistance to those beneficiaries by providing loans up to 10% by Government of India Bank and making the beneficiaries self-reliant through Pradhan Mantri Mudra Yojana and Empowering the Beneficiaries | Beneficiaries have to be encouraged to start industries by providing proper capital through this scheme.
Types of Mudra Loan Yojana
- Shishu Loan – Loan up to Rs 50,000 will be given by the bank under Shishu loan.
- Kishor Loan – Loans ranging from Rs 50,000 to Rs 5 lakh will be given by the bank under Kishor loan.
- Tarun loan – Loans ranging from 5 lakh to 10 lakh will be given by the bank under Tarun loan
Beneficiary of PMMY 2023
| Year | No of beneficiary | Amount |
| 2015-16 | 3.48 crore | 1. 37 lakh crore |
| 2016-17 | 3.97 crore | 1.80 lakh crore |
| 2017-18 | 4.81 crore | 2.53 lakh crore |
| 2018-19 | 5.98 crore | 3.21 lakh crore |
| 2019-20 | 64.12 lakh | 34602.7 crore |
| Total | 18.87 crore | 9.27 lakh crore |
Benefits of Pradhan Mantri Mudra Yojana
- The benefit of this scheme will be given to the entrepreneurs of the country.
- It is helping the entrepreneurs of the country to get loans from banks at concessional rates to start their own industries.
- Under the Pradhan Mantri Mudra Yojana, the central government is providing loans up to 10 lakhs by the bank.
- You will not have to give any guarantee to take a loan under this scheme.
- Through this scheme, the people of the country can start their own business by getting the loan from the government.
Important documents of Pradhan Mantri Mudra Yojana (Eligibility)
- The age of the applicant applying should not be less than 18 years.
- Aadhar card
- identity card of the applicant
- Driving License, PAN Card
- Voter ID Card
- balance sheet of previous years
- sales tax return, income tax return
- Postal address
- mobile number
- bank account
Features of Pradhan Mantri Mudra Yojana
- Pradhan Mantri Mudra Yojana was launched on 8 April 2015 by the Prime Minister of our country Shri Narendra Modi.
- Through this scheme, loans up to ₹ 1000000 are provided to non-corporate, non-agricultural small / micro enterprises.
- The loan provided under Pradhan Mantri Mudra Yojana is called Mudra loan.
- These loans are provided by commercial banks, small finance banks, non-banking financial institutions, etc.
- Three types of loans are provided under this scheme, which are Shishu, Kishor and Tarun loans.
- Loans up to ₹ 50000 are provided under Shishu loan.
- Loans ranging from ₹ 50000 to ₹ 500000 are provided under Kishor Loan.
- Loans ranging from ₹ 500000 to ₹ 1000000 are provided under Tarun Loan.
Lending Activities
Under Pradhan Mantri Mudra Yojana, Mudra loan is given for the purpose of generating income and employment. This loan is provided for the following activities.
- Business loans for vendors, traders, shopkeepers and other service sector activities.
- Working Capital Loan through Mudra Card.
- Equipment finance for micro units.
- Transport vehicle loan for business use only.
- Loans for agriculture related non farm income generating activities such as fish farming, bee keeping, poultry farming etc.
- The loan was for tractor, teller and two wheeler which are used only for business purposes.
Mudra Card under PMMY 2023
Mudra Card is a type of debit card offered to Mudra loan holders. This card works like an ATM card for a savings account. Through this card you can withdraw money from ATM. The loan is sanctioned by the bank in your name up to a limit. You can withdraw money through this card up to the limit sanctioned by the bank. Through this card, the working capital needs of the business can be met. Currency transactions become completely digital through Mudra cards. By using this card, the beneficiary can withdraw money through ATMs from any corner of the country and also make payments through Point of Sale machines.
How to apply in PMMY 2023?
If you want to get a loan from the bank to start your industry by applying under Pradhan Mantri Mudra Yojana, then you have to use the methods given below.
- First of all, to apply under this scheme, the applicant will have to fill the application form obtained from the concerned bank.
- After this, all the information asked in the application form like name, address, mobile number, Aadhaar card number etc. will have to be filled and all the documents will have to be attached and submitted to the concerned bank.
- After this, after verifying your application form and all the documents by the bank official, the loan amount will be sent to your bank account within 1 month.
- In this way your application will be completed and you will be able to start your own business with the loan amount received.
Procedure to Download PM Mudra Yojana Toll Free Number
- First of all you have to go to the official website of PMMY
- Now it will open in front of you on Home.
- On the home page, you have to click on the link of Contact Us.
- Now a new page will open in front of you, in which you will have to click on the download link written next to the PMMY toll free number.
- As soon as you click on this link all state wise toll free numbers will be downloaded.
Procedure to Login to PMMY Portal
- First of all you have to go to the official website of Pradhan Mantri Mudra Yojana
- Now it will open in front of you on Home.
- After this you have to click on the link for login for PMMY portal.
- Now the login form will open in front of you, in which you will have to login by filling user name, password and captcha code.
- In this way you will be able to login to PMMY portal.
Helpline Number
We have provided you all the important information related to Pradhan Mantri Mudra Yojana in our id article. If you are still facing any problem then you can contact on toll free number to solve your problem. Or you can also send email. You can know the toll free number by following the process given above and the email id is something like this.
Email Id- help@mudra.org.in