Pradhan Mantri MUDRA Yojana (PMMY) aims to provide Rs. 10 lakh to non-corporate, non-farm small / micro enterprises. People can get these loans from various commercial banks, RRBs, small finance banks, cooperative banks, MFIs and NBFCs for starting their own business. MUDRA Loans has created 3 products namely Shishu, Kishore and Tarun to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur. Shishu category covers loans upto Rs. 50,000, Kishore category covers loans between Rs. 50,000 and Rs. 5 lakh while Tarun category covers loans ranging from Rs. 5 lakh to Rs. 10 lakh.
|Launch Date||8 April 2015|
|Beneficiaries||Youths willing to start new business|