About PM Mudra Loan Yojana
The Pradhan Mantri Mudra Loan Yojana (PMMY) was launched by the Government of India in 2015 under the Micro Units Development and Refinance Agency (MUDRA) to promote small and micro businesses.
This scheme helps non-corporate, non-farm small and micro enterprises (SMEs) to get financial support without collateral.
Under the PM Mudra Loan Yojana, entrepreneurs can avail loans up to ₹10 lakh through banks, NBFCs, and micro-finance institutions.
The goal of this initiative is to encourage entrepreneurship, create employment, and boost self-reliance among India’s youth, women, and small traders.
📋 PM Mudra Loan Yojana Overview
| Particular | Details |
|---|---|
| Scheme Name | Pradhan Mantri Mudra Loan Yojana (PMMY) |
| Launched By | Government of India |
| Implemented By | MUDRA (Micro Units Development & Refinance Agency) |
| Launch Year | 2015 |
| Beneficiaries | Small business owners, entrepreneurs, startups, traders |
| Loan Amount | ₹50,000 to ₹10,00,000 |
| Interest Rate | 8% to 12% (varies by bank) |
| Collateral | Not required |
| Repayment Period | Up to 5 years |
| Application Mode | Online / Offline |
| Official Portal | mudra.org.in (informational only) |
🎯 Purpose of PM Mudra Loan Yojana
The main objectives of the PM Mudra Loan Scheme are:
- To support small entrepreneurs financially.
- To generate employment through small business development.
- To encourage start-ups and innovation in local sectors.
- To promote women and youth entrepreneurship.
- To strengthen India’s MSME (Micro, Small, and Medium Enterprise) ecosystem.
PM Mudra Loan Types & Benefits
The Mudra Loan is divided into three categories based on the stage of business growth:
| Loan Category | Loan Amount | Purpose / Stage |
|---|---|---|
| Shishu | Up to ₹50,000 | For new small businesses or startups |
| Kishor | ₹50,001 – ₹5,00,000 | For growing businesses needing more funds |
| Tarun | ₹5,00,001 – ₹10,00,000 | For established businesses expanding further |
Key Benefits
- Loan up to ₹10 lakh without collateral.
- Easy and fast loan approval.
- Available through all major banks and NBFCs.
- Special benefits for women entrepreneurs.
- Boosts small-scale industries and employment.
Eligibility Criteria
To apply for the PM Mudra Loan, applicants must meet the following requirements:
- Indian citizen aged between 18 and 65 years.
- Must own a non-farming micro or small business.
- Existing businesses or new start-ups are eligible.
- Should not be a defaulter in any bank or financial institution.
- Businesses like manufacturing, trading, service, or allied activities are eligible.
Documents Required
Applicants need to provide the following documents for verification:
- Duly filled loan application form
- Identity proof – Aadhaar card, PAN card, Voter ID
- Address proof – Utility bill, Ration card, Passport
- Business proof – Registration certificate, Shop license
- Income proof – Bank statements, ITR, balance sheet
- Passport-size photographs
- Quotation or business plan (for new business)
How to Apply for PM Mudra Loan
Offline Application Process:
- Visit your nearest bank branch (SBI, HDFC, Axis, PNB, etc.).
- Ask for the PM Mudra Loan application form.
- Fill in your personal and business details.
- Attach all required documents.
- Submit the form and await verification.
- Once approved, the loan amount is credited to your account.
Online Application Process:
- Visit the bank’s official website (e.g., SBI, HDFC, PNB).
- Navigate to the MUDRA Loan / MSME Loan section.
- Click on “Apply Online”.
- Fill the digital form with your details.
- Upload the required documents.
- Submit and track your application status online.
Application Status Check
You can check your Mudra Loan status by:
- Visiting your bank’s loan portal.
- Logging in with application number / reference ID.
- Contacting the bank’s loan department.
Registration & Login
Currently, there is no centralized Mudra Loan registration portal.
Applicants need to register and log in through their respective bank websites (like SBI, HDFC, Axis, ICICI, etc.) to apply and track status.
Contact Details
Micro Units Development and Refinance Agency (MUDRA)
1st Floor, MSME Development Centre,
Plot No. A-41, Sector-62, Noida, Uttar Pradesh – 201301
Helpline: 1800-180-1111 / 1800-11-0001
Email: help@mudra.org.in
Frequently Asked Questions (FAQ)
Q1. What is the PM Mudra Loan Yojana?
The PM Mudra Loan Yojana is a government scheme that provides financial assistance up to ₹10 lakh to small and micro businesses without collateral.
Q2. Who is eligible for a Mudra loan?
Any Indian citizen aged 18–65 years with a small or micro business can apply.
Q3. What are the types of Mudra loans?
There are three categories – Shishu, Kishor, and Tarun, depending on the business size.
Q4. Is collateral required?
No, the Mudra Loan is completely collateral-free.
Q5. How much loan can I get under PMMY?
You can get a loan from ₹50,000 up to ₹10,00,000.
Q6. What is the repayment period?
Repayment tenure can extend up to 5 years, depending on the loan type and bank policy.
Conclusion
The PM Mudra Loan Yojana has been a revolutionary scheme that empowers small business owners and promotes self-employment across India.
By providing collateral-free loans, the government enables millions of entrepreneurs to turn their ideas into reality and contribute to India’s economic growth.
If you’re planning to start or expand your small business, PMMY can be your stepping stone toward success.