Pradhan Mantri Mudra Yojana

Pradhan Mantri Mudra Yojana 2023-24: Eligibility, Benefits & All Details

Pradhan Mantri Mudra Yojana2023-24:- One of the Government of India’s main initiatives is the PM PMMY. The program offers income-generating micro companies operating in non-farm sectors like manufacturing, trading, or services—including agriculture-related industries like dairy, beekeeping, and poultry—microcredit or loans up to Rs. 10 lakh. The program offers non-corporate entities financial support provided by participating lending institutions. Activities of micro and small institutions’ non-agricultural sector that generate revenue.

Millions of proprietorships operating as small manufacturing, service sector, retail, fruit and vegetable vendors, truck drivers, food-service operators, repair shops, machine operators, small industries, artisans, food vendors, and partnership firms are among these micro and small scale entities. processor in addition to others.

Also Read:- Apy Scheme 2023-24


Details Of PM Mudra Loan Yojana

Name of the SchemePrime Minister Mudra Loan Scheme
started byBy Prime Minister Narendra Modi
Beneficiarypeople of the country
Objectiveprovide loan
official website

Objective of PM Mudra Yojana

This scheme’s primary goal is to help the many people in the nation who wish to launch their own businesses but are unable to do so because of a lack of funding. The Central Government launched the Pradhan Mantri Mudra Loan Scheme specifically for these individuals. Beneficiaries may use a Mudra loan to launch their own small business by 2023. Additionally, this plan makes it very simple to lend money to people. Through the Pradhanmantri Mudra Loan Scheme 2023, the nation’s citizens will have their goals fulfilled and will gain self-reliance and empowerment.

Types of Pradhan Mantri Mudra Yojana

This program offers three different kinds of loans.

  • Shishu Loan: Recipients of this kind of Mudra scheme would be given loans up to ₹ 50,000.
  • Kishore Loan: The recipients of this kind of Mudra plan would receive loans in the amount of ₹50,000 to ₹500,000.
  • Tarun Loan: The recipients of this kind of Mudra plan would be given loans in the amount of ₹ 500000 to ₹ 1000000.

Banks covered under PM Mudra Yojana

  • Allahabad Bank
  • Bank of India
  • Corporation Bank
  • ICICI Bank
  • j&k bank
  • Punjab and Sindh Bank
  • Syndicate Bank
  • Union Bank of India
  • Andhra Bank
  • Bank of Maharashtra
  • dena bank
  • IDBI Bank
  • Karnataka Bank
  • Punjab National Bank
  • Tamil Nadu Mercantile Bank
  • Axis Bank
  • Canara Bank
  • Federal Bank
  • Indian Bank
  • Kotak Mahindra Bank
  • Saraswat Bank
  • UCO Bank
  • Bank of Baroda
  • Central Bank of India
  • HDFC bank
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • State Bank of India
  • Union Bank of India

Who can apply for loan under Mudra Yojana?

Also Read:- Ladli Laxmi Yojana

Organizations seeking loans for small business can apply for:

  • Proprietorship Firm
  • partnership firm
  • small manufacturing unit
  • service sector unit
  • shopkeeper
  • fruit and vegetable seller
  • truck/car driver
  • hotel owner
  • repair shop
  • machine operator
  • small scale industries
  • food processing unit
  • Other industries in rural and urban areas

The goal of the Mudra Loan Scheme is to give small businesses that are not corporations easy access to credit. There is a single page form to fill out if you wish to apply for a Shishu Mudra loan. For the Kishore and Tarun Mudra Loan, there is a three-page application.

Pradhan Mantri Mudra Yojana


For the purpose of applying for Micro Units Development & Refinance Agency Ltd. (MUDRA) loans under the Pradhan Mantri Mudra Yojana (PMMY), any Indian citizen with a business plan for a non-farm sector income-generating activity, such as manufacturing, processing, trading, or service sector, and whose credit need is less than Rs 10 lakh, can approach either a bank, MFI, or NBFC.


  • Any citizen of the nation may apply for a PMMY loan if they wish to launch their own small business.
  • The country’s residents will receive loans under this program with no repayment terms in order to launch their own businesses. Other than this, there are no processing fees associated with the loan. Under the Mudra Yojana, loan payback terms may be extended for a maximum of five years.
  • The borrower receives a Mudra card, which they can use to pay for company expenses.

If you want to apply for loan under Mudra Yojana

  • The candidate’s monthly salary must exceed Rs 17,000 per month.
  • If a business is using a Mudra loan, it needs to have an annual revenue of Rs 15 lakh.
  • A person must have worked for at least two years in order to be eligible for a Mudra loan for business purposes.
  • The businessman must have been in operation for the previous five years.
  • The candidate taking out a Mudra loan ought to have been residing there for a full year, according to the documentation provided for residency.
  • The applicant must have been in contact with the bank for a minimum of a year if the residential address is less than this.

Taking out a loan under the Mudra Yojana does not involve filing an income tax return (ITR). However, banks may also accept its equivalent as proof for information pertaining to income, salary, etc. Banks only use the documentation you provide to them to set the interest rates on Mudra loans.

Sectors Covered

Also Read:- Ayushman Bharat Yojana 2023-24 Eligibility All Features

Sector- or activity-focused schemes would be implemented in order to optimize beneficiary coverage and customize products to match the needs of certain business activities. First, plans are put up for: based on a greater concentration of enterprises in specific activities / sectors

  • Land Transport Sector / Activity: This would, among other things, assist units in purchasing vehicles for the transportation of goods and people, such as taxis, autorickshaws, small goods transport vehicles, three-wheelers, e-rickshaws, and passenger automobiles.
  • Activities related to the community, social life, and individual needs: bars, salons for cosmetic procedures, fitness centers, boutiques, tailors, dry cleaners, bike and motorcycle repair shops, photocopying and DTP services, pharmacies, courier services, etc.
  • Food Products Sector: Cold chain vehicles, cold storages, ice making units, ice cream making units, biscuit, bread, and bun making, all of these activities, as well as the preservation of agricultural produce at the rural level, sweet shops, small service food stalls, and daily catering / canteen services, are all eligible for support.
  • Textile Products Sector / Activity: To support the following activities: apparel design, knitting, cotton ginning, computerized embroidery, stitching, and other textile non-garment products like bags, car accessories, furniture accessories, etc.; handloom, powerloom, chikan work, zari and zardozi work; traditional embroidery and hand work; traditional dyeing and printing; etc.
Pradhan Mantri Mudra Yojana

How to apply

The local branches of any of the following financial institutions in their area can assist borrowers seeking assistance under the Pradhan Mantri MUDRA Yojana (PMMY): PSU Banks, Regional Rural Banks and Cooperative Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions (MFI), and Non Banking Finance Companies (NBFC). Assistance will only be provided in compliance with the particular lending institution’s qualifying standards.

Check List: (List of papers that need to be sent with the application)

  • Identity verification documents include voter identification cards, driver’s licenses, PAN cards, Aadhaar cards, passports, and photo IDs from government agencies, among others.
  • A recent phone bill, energy bill, property tax receipt (no older than two months), voter ID card, Aaadhar card, passport, owner’s name, partnership bank passbook, or the most recent account statement duly confirmed by bank personnel are all acceptable forms of proof of residency.
  • Recent photos of the applicant (two copies, no more than six months old).
  • A quote for the necessary purchases of machines and other items.
  • The supplier’s name, the specifications, the cost, and/or the list of goods to be purchased for the equipment.
  • Proof of Identity and Business Address: Copies of any pertinent licenses, registration certificates, and other documents attesting to the ownership and, if applicable, the address of the business unit; Proof of Categorization: SC, ST, OBC, Minority, etc.

Note : For all PMMY loans, the following are to be noted

  • No charge for processing
  • Absent collateral
  • There is a five-year maximum extension on loan payback conditions.
  • The applicant cannot be in arrears with any bank or financial institution.

How to apply for Pradhan Mantri Mudra Loan Scheme?

  • The program allows interested beneficiaries to apply for loans at their closest government, private, rural, commercial, etc. bank by going there and bringing all the necessary paperwork.
  • Next, fill out the application and visit the bank where you wish to obtain a loan.
  • Complete the form, affix it with all of your supporting documentation, and deliver it to the bank representative.
  • Within a month, the bank will grant you the loan after confirming all of your documentation.

Also Read:- Pm Kusum Scheme

Process to view annual report

  • The Pradhan Mantri Mudra Loan Yojana’s official website must be visited first.
  • It will now open to the home page in front of you.
  • The Financials option must be clicked on the main page.
  • Following this, you will need to select the Annual Report option.
  • The options listed below will now appear in your window.
  • The 2019–20 Annual Report
  • 2018–19 Annual Report 2017–18 Report
  • Report on the Year 2016–17
  • Yearly Report for the Academic Year 2015–16
  • The option that best fits your needs must be clicked.
  • The PSF file will then start to download to your device.
  • The annual report is available in this file.
Pradhan Mantri Mudra Yojana


Q:- How to get loan from Pradhan Mantri Mudra Yojana?


Step1: Download the loan application form
Step2: Fill correct information in the loan application form
Step3: Visit any public or private bank
Step4: Complete all bank procedures
Step5: After which the loan will be passed

Q:- Who will give Mudra loan?

Ans:- You can apply for a Mudra Loan Scheme loan through any bank, NBFC, or microfinance institution.

Q:- What happens if you do not repay Mudra Loan?

Ans:- If the guarantors of Mudra loans are unable to make the full payment, the government may take legal action against them.

Q:- What documents are required to take Mudra loan?

Ans:- The applicant’s KYC documents consist of the following: a birth certificate, tenth class certificate, utility bill (water/electricity), passport, voter ID card, driving license, PAN card, and Aadhar card.

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