MUDRA Yojana – PMMY (Part-II)

FAQs about MUDRA Yojana – PMMY

 

I am an artisan specialising in Jari work. I want to start my own work instead of doing job work for others. Can MUDRA help me?

You can avail assistance under the ‘Shishu’ category of Micro Credit Scheme of MUDRA through any of the MFIs operating in your region for setting up your own enterprise.

I have done a course on fashion designing. I want to open my own boutique and develop my own brand. What help can MUDRA offer to me?

MUDRA operates a special scheme for women entrepreneurs; viz; Mahila Uddyami Scheme. Assistance will be provided under all three groups, viz. ‘Shishu’, ‘Kishor’ as well as ‘Tarun’.



I intend to work on franchisee model and open an ice cream parlour. Can MUDRA help me?

MUDRA operates a special scheme ‘Business loans for Traders and Shopkeepers’. You can avail the facilities under the scheme as per your requirements.

I want to expand my pottery business by adding more variety and designs. What help can I get from MUDRA?

You can avail assistance under the ‘Shishu’ category of Micro Credit Scheme of MUDRA through any of the MFIs operating in your region for setting up your own enterprise.

Scope of PMMY & various types of loan available and which are the agencies that will provide loan?

Pradhan Mantri Mudra Yojana (PMMY) will be extended by all Public Sector Banks such as PSU Banks, Regional Rural Banks and Cooperative Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions and Non Banking Finance Companies. All loans upto a loan size of 10 lakh provided for non farm sector income generating activities since April 08, 2015 is treated as PMMY.

Who will monitor the implementation of PMMY?

Monitoring of PMMY will be done at the State level through SLBC forum and at national level by MUDRA / Department of Financial Services, Govt. of India. For this purpose, MUDRA has developed a portal, wherein the banks and other lending institutions directly feed their achievement details which is consolidated by the system and reports are generated for review.

Is there any scheme in Central/State Govt., which is applicable all over India, in which loan without guarantee is granted / the guarantors identity is checked?

Pradhan Mantri MUDRA Yojana (PMMY) is a Govt. of India Scheme, which enables a small borrower to borrow from banks, MFIs, NBFCs for loans upto 10 lakh for non-farm income generating activities. Generally, loans upto 10 lakh issued by banks under Micro Small Enterprises is given without collaterals.

Are opening of a school, carpentry and RO water plant installation eligible for the loan, If So, what is the maximum and minimum amount of loan?

Carpentry, RO water plant installation, on a business mode, and educational institution are eligible activities under MUDRA loan, if the loan amount is below 10 lakh. The primary requirement for being a MUDRA loan is to be a income generating activity under manufacturing, processing, trading and service sector and the loan amount is below 10 lakh.

What is the eligibility of persons for availing MUDRA loans?

Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC.



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