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Pradhan Mantri Mudra Yojana (PMMY) :Objective and Features



Pradhan Mantri Mudra Yojana (PMMY):Launch,Eligibilty,Objective and Types of loans

MUDRA-Micro Units Development and Refinance Agency bank was established as a public sector financial institution.

The Yojana was launched by Prime Minister Narendra Modi in 2015.

The Yojana aims to enable Non-Banking financial institutions/Companies (NBFCs),Micro Finance Institutions(MIFs),

Commercial Banks,Cooperative banks,RBRs etc. for lending loans.

PMMY Eligibility

*The person should be citizen of India.

*People having a business plan in a non-farming sector with income generating activities like ,Manufacturing,Processing,Trade,Service Sector.

*Credit demand less than 2Lakhs.

Objectives of PMMY

*To sanction loan upto 10 Lakh for people having a business plan to generate income from non-farming sector.

*Providing credit facilities to micro enterprises,to help in increasing GDP and to generate source of employment.

*Monitoring of microfinance institutions and new registration will also be done.

*Taking help of technology for promoting financial inclusions.

Types of PMMY loans

There are 3 products as per the funding requirement of the beneficiary.There coverage loan is mentioned below-

*Shishu-< Rs50,000

*Kishor- Above Rs.50,000 upto Rs.5,00,000

*Tarun- Above Rs.5,00,000 upto Rs. 10,00,000

Sectors covered under the Yojana

*Under Land and Transport Sector - Auto-rickshaws,E-rickshaws,Passenger cars,Small good transport vehicles & other 3 wheelers.

*Under Service Sector - Hair and beauty salons,beauty parlours,Cleaning services,Boutiques,Photocopying shops etc.

*Under Food Product Sector- Sweet shops,Manufacturing papads,pickles,small service food centres,Bakeries etc.

*Under Textile Sector - Handwork industry,Dyeing,Knitting,furnishing accessories,embroidery etc.


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