Launched in April 2015 by the Prime Minister, the Mudra Yojana aims to enable Micro Finance Institutions (MFIs), Non-Banking financial institutions/Companies (NBFCs), Small Finance Banks, RBRs, Commercial Banks, Cooperative Banks, etc. to provide Low Rate Loans to eligible entities.
OVERVIEW OF PRADHAN MANTRI MUDRA YOJANA
|Name||PRADHAN MANTRI MUDRA YOJANA|
|Also known as||PMMY|
|Launched by||PM Narendra Modi|
|Aim to||Fund the unfunded|
|Maximum limit||Up to 65,000|
|Minimum limit||Min. 18,000|
|Sector||Central sector scheme|
OBJECTIVE AND BENEFITS OF PRADHAN MANTRI MUDRA YOJANA
Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of the Government of India. The scheme facilitates micro credit/Loan up to Rs. 10 lakh to income generating micro enterprises engaged in the non farm sector in manufacturing, processing, trading or service sector. MUDRA supports Financial Intermediaries to extend loans to the non-corporate, non-farm sector income generating activities of micro and small entities.
HOW TO APPLY FOR PRADHAN MANTRI MUDRA YOJANA
To apply click on the following link