MUDRA LOANS

About:

• Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched in 2015.
  
  
• Under it, Government of India has setup a new institution called Micro Units Development & Refinance Agency Ltd. (MUDRA) for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises.
  
  
• Under PMMY, MUDRA has created three products i.e. 'Shishu', 'Kishore' and ‘Tarun’ as per the stage of growth and funding needs of the beneficiary micro unit. These schemes cover loan amounts as below:
  • Shishu: covering loans up to ₹50,000
    
    
  • Kishore: covering loans above ₹50,000 and up to ₹5,00,000
    
    
  • Tarun: covering loans above ₹5,00,000 and up to ₹10,00,000
    
    
  
  
  
• These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.
  
  
• Present status: Till date, A total of Rs. 6.37 lakh crore has been disbursed under the scheme by various finance institutions.