Published on: April 8, 2022
PRADHAN MANTRI MUDRA YOJANA
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.
- 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).