Pradhan Mantri MUDRA Yojana (PMMY)
PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of Government of India, was launched on 8th April, 2015 by the Hon’ble Prime Minister to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.
All “Non farm enterprises” under “Micro Enterprises” and “Small Enterprises” segment engaged in “income generating activities” engaged in “manufacturing, trading and services“ and whose “credit needs are up to Rs.10.00 lacs”
Any type of Fund Based or Non Fund Based facility.
No Minimum amount. Maximum Amount – Rs.10.00 lacs.
Categorization of MUDRA Loans:
Stipulated Credit limits
SHISHU: Loans sanctioned under the scheme up to Rs.50000
KISHORE: Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
TARUN: Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs
Rate of Interest:
|Limits||Micro Enterprises||Small Enterprises|
|Up to Rs.50000/-||Base Rate||Base Rate+0.50%|
|Above Rs.50000/- to Rs.2.00 lacs||Base Rate+0.50%||Base Rate+1.00%|
|Above Rs.2.00 lacs to Rs.10.00 lacs||Base Rate+1.00%||Base Rate+1.25%|
Processing Charges: Nil
Security: Assets created out of the Bank’s finance. No collateral security.
(The check list is only indicative and not exhaustive and depending upon the
local requirements at different places addition could be made as per necessity)
1) Proof of identity – Self certified copy of Voter’s ID card / Driving License / PAN Card /
2) Proof of Residence – Recent telephone bill, electricity bill, property tax receipt (not older than 2
months), Voter’s ID card, Aadhar Card & Passport of Proprietor/Partners/Directors.
3) Proof of SC/ST/OBC/Minority.
4) Proof of Identity/Address of the Business Enterprise -Copies of relevant licenses/registration
certificates/other documents pertaining to the ownership, identity and address of business unit.
5) Applicant should not be defaulter in any Bank/Financial institution.
6) Statement of accounts (for the last six months), from the existing banker, if any.
7) Last two years balance sheets of the units along with income tax/sales tax return etc.
(Applicable for all cases from Rs.2 Lacs and above).
8) Projected balance sheets for one year in case of working capital limits and for the period of the
loan in case of term loan (Applicable for all cases from Rs.2 Lacs and above).
9) Sales achieved during the current financial year up to the date of submission of application.
10) Project report (for the proposed project) containing details of technical & economic viability.
11) Memorandum and articles of association of the company/Partnership Deed of Partners etc.
12) In absence of third party guarantee, Asset & Liability statement from the borrower including
Directors & Partners may be sought to know the net-worth.
13) Photos (two copies) of Proprietor/ Partners/ Directors.
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