Pradhan Mantri Mudra Yojana (PMMY) 2023 Update This time these business owners will get the loan

The Pradhan Mantri Mudra Yojana is a new scheme of government under which they are giving loans to all the non-corporate, non-farm and small micro-enterprises or small business holders who hesitate to take the loan from the bank because the banks do not give loans to any small business holder. So, they can not expand their own business. To cut off this type of thing from the market the government came up with a scheme called MUDRA Yojana. Under this scheme, they give loans to those people. To whom banks are not given loans.

Brief Description of the Project

Name of SchemePradhan Mantri Mudra Yojana (PMMY)
Scheme BenefitsEvery non-corporate or small business holder can easily take loans from banks
ObjectiveTo provide loans to non-corporate firms or small business holders

Table of Contents

Mudra meaning in the scheme

The meaning of the mudra is micro-unit development refinancing agency ltd. Mudra is a refinancing Institution that provides credit to all banks, NBFCs, and MFIs. After this, all these small institutions provide money to all their customers, Who applied for a loan or demand a loan from the bank. From all these small institutions small business holders can directly contact or talk about their application for the loan. But, the best thing about this scheme is you do not need to talk or go to some head institution like Mudra. There is no direct interaction between the mudra institution to the people who applied for loans.

launch Date of Mudra Yojana

The scheme was launched by our honourable Prime Minister of India. The launch date of the scheme is 8th April 2015. This scheme is for providing loans to small business holders.

Loans Under MUDRA Yojana:

The government has made three loans given categories for different types of loan takers. Under the PMMY scheme, There are mainly three categories made by the government. So, there are mainly three categories made for loan takers these are given below in the points.

  • Shishu

This is the first category in the Mudra loan. This category of loan is made for those people who want to take a small amount of loan for their business purpose. In this category, the amount of loan given to the people is between a range of Rs.50,000. This much amount is allotted under the scheme. This much amount is needed by some small business holders to grow their business but when they go to a bank and ask for a loan then the banks do not give loans to all these small businesses.

  • Kishore

This is the second category under the mudra scheme. In this category, the amount given is much higher than in the Shishu category. The category is those people who have a good stable business but want to scale up or want to open some new branch of the business. The amount of money given in the Kishore category ranges between Rs. 50,000 to 5,00,000. A pretty good amount of loan is given to the customer by the scheme.

  • Tarun

This is the third category in which loans are given to people. In this category, a person demands a loan amount of up to 10 lakh in this category. This is the maximum amount given to someone for his Business purpose. This is the limit under this scheme. In this scheme, a person only demands a loan up to the value of rupees 10 lakh.

Pradhan Mantri Mudra Yojana (PMMY) 2022 Key Highlights

PortalPradhan Mantri Mudra Yojana (PMMY)
Launched byMudra (Micro Units Development & Refinance Agency Ltd)
( It’s a refinancing institution)
ObjectiveTo provide loans to non-corporate firms or small business holders
BenefitsEvery non-corporate or small business holder can easily take loans from banks
BeneficiaryEasily loan providing facility for everyone
Official WebsiteClick Here

Some achievements earned in this scheme are:

Pradhan Mantri Mundra Card

Under this scheme, the recipient of the mudra loan gets and mudra card or currency card through which they can withdraw their funds from the ATMs. They can withdraw the amount on a needs basis. This card is only given to the beneficiaries whose loan amount has been sanctioned by the bank. When the bank gives you this mudra card or Currency card after this they will also give you the password for this card also which you would not share with anyone because if you share your password with anyone then chances of fraud will be done with you or someone can draw your money secretly.

`Advantages Of PMMY Scheme:

The advantages of this PMMY scheme are given below:

  • In this scheme, any from this whole country can apply for the mudra if he starting or he has a small business firm. He can apply for the mudra loan scheme. They can take loans up to Rs. 10 LAKHS for their own business purpose.
  • Only citizens of India can take this loan with a non-obligation policy. Through this loan, you can also start or grow up your small business.
  • For this loan, the banks also do not charge any processing fees.
  • A good amount of time will be given to everyone to pay back this big huge amount.
  • The bank also gives you a mudra card, by which you can make purchases of anything for your business related.

Eligilbility criteria for Pradhan Mantri Mudra yojana

If you have a small business and want to expand your business then you can apply for a loan under the Mudra Yojana. The eligibility criteria for applying to the PMMY scheme.

  • A minimum age of 18 years will be required for the borrower to apply for the loan under Mudra Scheme.
  • For getting a loan to be passed your bank profile should be clear. You should not be a bank defaulter.
  • You should be an Indian citizen.

Document required for applying for a loan under the PMMY scheme

  • Adhaar card is the first document required under any verification document category.
  • The PAN Card Is a very important document under the finance segment because without it you can not apply for any loan.
  • A permanent address will be required.
  • A passport-size photo will be required by you.
  • Three-year balance sheet data will be required.
  • Self-assessment returns and income tax returns.

Online Procedure for application submission of Mudra Yojana

Do not worry the online application procedure is not changed in 2022 it is the same as it was in 2020 year.

  • The first step is to go to the Official website of the mudra Yojana.
  • Then go to the homepage of the Mudra website then,
  • On the homepage of the Mudra website, you will see three options.
  • All three options that appear on the homepage are three loan categories.
  • Now you can choose any one option out of the three. All these three options show different amounts of loans that they can give.
  • The online application form is available on the Mudra website.
  • Now take out the print of this application.
  • Now complete all the details in the form which are required.
  • Now after submission of this form, This form will go to your local bank.
  • The loan amount will be issued to you within one month of your application being verified.

Commercial vehicles Purchase under PMMY Scheme

Pradhan Mantri Mudra Yojana also provides you with the services of purchasing vehicles for commercial purposes. You can purchase different vehicles like- Auto rickshaws, taxis, goods transport trucks, Tractors, trolleys, and electric vehicles are new trends in all this. On the purchase of electric vehicles, the government is giving you a subsidy. The subsidy is not only given by the central government but also by the state government. The government is encouraging everyone to purchase an electric vehicle. So, you can purchase vehicles for your own business.

Achievements Achieved under Pradhan Mantri Mudra scheme:

The government has achieved many milestones through this scheme. They are able to help so many peoples to scale up their businesses.

Some achievements earned in this scheme are:

  • Through this scheme, the government has sanctioned many loans directly to the people.
  • The government has given Rs. 14.96 crore loans to 28.70% of people throughout this year six years of their scheme term.
  • Through this scheme, the government has created a lot of employment in the country. The stats given by the government says that it created 1.12 crore employment between a time period of 2015 and 2018
  • This PMMY scheme helps a lot of small businessmen to boost their small businesses and grow up their small businesses to next-level heights. Through this scheme, the government has provided loans to 4.20 Crore people. This achievement they have achieved in the financial year 2020-2021.
  • Through the PMMY scheme government has given Shishu loans to 88% of the people.


In the above-given article, we have given full information about the Pradhan Mantri Mudra Scheme (PMMY). In our blog try to answer every query of our readers through our articles. But, if you have further queries regarding the article. Then, you can ask us by posting your query in the comment box. Then, we try to answer you as quickly as possible. You can also visit the official site of the gov. link: There you can there find out all of your answers to your queries.

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Which bank provides Pradhan Mantri Mudra Yojana?

In this Pradhan Mantri Mudra Yojana, the mudra institutions give credit accounts to the NBFCs, MNFs, and banks. These all banks can provide

What is the full form of PMMY?

The full form of the PMMY scheme is “Pradhan Mantri MUDRA Yojana.

In which year did Pradhan Mantri Mudra Yojana?

The Pradhan Mantri Mudra Yojana is launched on 8th April 2016.

What is the maximum loan amount available under Pradhan Mantri Mudra Yojana?

The maximum loan a person avail of under this Pradhan Mantri Mudra Yojana is Rs. 10,00,000. This amount comes in the Tarun category of the Mudra Yojana. The Mudra yojana divided the loan category into three classes under which Tarun comes. This is the maximum amount of loan-giving category under the Mudra Yojana.

What is the maximum loan limit under the Kishore product of Mudra Yojana?

The Maximum amount limit given under this Kishore product of Mudra Yojana is between Rs. 50,000 to 5,00,000 lakh. This much is given to some in this Kishore Product of Mudra Yojana.

What is the maximum loan limit under the Shishu product of Mudra Yojana?

The maximum amount loan amount limit given to loan Applier under this Shishu category product is Rs.50,000.


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