NEWS

Pradhan Mantri Mudra Yojana completes 7 years

THE PMMY SCHEME

WHEN WAS IT LAUNCHED – April, 2015

WHAT IS THE AIM – Refinance collateral-free loans given by the lenders to small borrowers

WHO CAN AVAIL

• Banks and MFIs can draw refinance after becoming member-lending institutions of MUDRA.
• Available for non-agricultural activities upto Rs. 10 lakh and activities allied to agriculture such as Dairy, Poultry, Bee Keeping etc, are also covered.

OTHER DETAILS

• Unique feature is a Mudra Card which permits access to Working Capital through ATMs and Card Machines.
• There are three types of loans under PMMY:
  • Shishu (up to Rs.50,000).
  • Kishore (from Rs.50,001 to Rs.5 lakh).
  • Tarun (from Rs.500,001 to Rs.10,00,000).