Pradhan Mantri Mudra Loan Yojana (PMMY) Details


Mudra Loan | Pradhan Mantri Mudra Loan Bank Yojana (PMMY) Details| Apply, Documents Required, Interest rates, Eligibility, Application Form, Government Business Loan

It has been the strongest endeavor of the Prime Minister Narendra Modi to bank the unbanked population.  He, in all his addresses emphasizes the importance of bringing the unbanked people under the mainstream banking in order to make the neglected section of population self reliant and self dependent. Mudra Bank Loan yojana comes as a vision from the Prime Minister by the slogan, ‘Fund the Unfunded’.  MUDRA means Micro Units Development and Refinance Agency.  This initiative has been started after the success of PM Jan Dhan Yojana.

Population engaged in small businesses always requires micro finance to facilitate their business and day to day business needs.  PM Mudra Bank Yojana would help in facilitating micro credit up to Rs 10 lakh to such small business owners.  PM Mudra Bank already has a corpus of more than Rs 70,000 CR and this amount would help in increasing the overall output and creating newer jobs.

Pradhan Mantri Mudra Loan Yojana (PMMY)


Brief Pradhan Mantri Mudra Loan Yojana in Tabular Format

SNO Parameters Details
1 Scheme Name Pradhan Mantri Mudra Yojana or Modi Loan Scheme
2 Launch Date 8th April 2015
3 Last Date No last date
4 Target Audience Small Business Owners
5 Loan Amount From Rs 50,000 to 10 Lakhs
6 Scheme Stages Shishu (50K), Kishor ( 5 Lakhs), Tarun (Rs 10 Lakhs)
7 Scope of Scheme Across India
8 Launched By PM Narendra Modi

The recovery method under pradhan mantri mudra yojana

Mudra Bank would work on both ends, as per the scheme. It would ensure that proper and adequate credit facility is facilitated to the needy entrepreneurs on one hand, whereas, accurate and efficient recovery method is followed by the banks on the other, to create a justifiable and balanced credit system. You will have to repay the loans taken in a tenure ranging from 5 to 7 years.

The stages and reach of loan under pradhan mantri mudra yojana

There are three main stages of PM Mudra Bank Yojana:

SNO Stages Maximum Amount Details
1 Shishu RS 50 Thousand This stage would cater to entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.  Under this stage the applicant would be eligible to get up to Rs 50,000 credit.
2 Kishor Rs 5 Lakhs This stage would cater to entrepreneurs who have requirement of funds in the range of Rs 50,000 and Rs 5 lakh.  This section of entrepreneurs would belong to either those who have already started their business and want additional funds to mobile the business or those who simply require this much of money to start up their businesses.
3 Tarun Rs 10 Lakhs If an entrepreneur meets the required eligibility conditions, he/she could apply for a loan up to Rs 10 lakh.  This would be the highest level of amount that an entrepreneur could apply for a start up loan.

What you should know about Pradhan Mantri Mudra Yojana

Apart from what we have already informed about PM Mudra Bank, following are the things that you should know as well:

  1. The Pradhan Mantri Mudra Bank Yojana is said to benefit more than 58 million small business owners in the country. This is one sector under which more than 120 million people are employed and this working population mostly comes from less privileged sections of society.
  2. The majority of small businesses owners in India have always remain outside the ambit of mainstream bank credit. This is just because banks and financial institutions often focus their products and services for the secured business lot, who would repay at higher interest and have their monies secured.  PM Mudra bank yojana would help in getting this trend changed.
  3. Institutional finance has always been relevant to small businesses. However, inadequate corpus and unorganized management of credit facility to small entrepreneurs never really made it reach the need entrepreneurs.  A PM Mudra bank yojana comes with a dream to get the dreams of many young and budding entrepreneurs fulfilled.
  4. Repayment has always been a concern why financial institutions could not provide required finance to small business owners. With this initiative from the PM office, the scheme is said to take care of this part as well and thus help both financial institutions and needy small business owners come on one single platform.

PM Mudra Yojana (PMMY) 2022 Apply Online Form for Bank Loan

Mudra Loan Scheme aims to attain development in an inclusive and sustainable manner by supporting and promoting partner institutions. Below is the complete process to apply online by filling Pradhan Mantri Mudra Yojana Application Form 2022:-

STEP 1: Firstly visit the official PMMY website at

STEP 2: Applicant can scroll down the home page and click at “Apply Now” link under “Mudra loans” tab or directly click

STEP 3: Upon clicking the link, PM Mudra Yojana online registration form 2022 will appear as shown below:-

STEP 4: Here enter name of applicant, e-mail ID, mobile number and click at “Generate OTP” button. Next Verify OTP to complete the registration process.

STEP 5: In the next step, applicants can complete their profile to fill PM Mudra Loan Yojana online application form.

STEP 6: Accordingly, enter all the personal and professional details and click at the “Submit” button to complete the Pradhan Mantri Mudra Yojana online apply process.

Before applying for a loan, view the checklist which can help you to fill up your application faster.

Prime Minister Mudra Yojana Loan Application Form PDF Download (Offline Method)

Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches across the country. All the applicants can even download the Prime Minister Mudra Yojana application forms in PDF format through the link given below:-

The PMMY bankers kit to download application forms for Shishu, Tarun & Kishor component under Pradhan Mantri Mudra Yojana will appear as below:-

MUDRA Loan Application Form for Shishu Loan

Click at the download option in front of “Application Form for Shishu” in PMMY Bankers Kit to open Shishu Loan Apply Offline Form PDF:-

PM Mudra Yojana Shishu Loan Application Form Download
PM Mudra Yojana Shishu Loan Application Form Download

MUDRA Loan Application Form for Tarun / Kishor Loans

Click at the download option in front of “Common Loan Application form for Kishor and Tarun” in PMMY Bankers Kit to open Kishor / Tarun Loan Apply Offline Form PDF:-

Mudra Yojana Kishor Tarun Loan Form PDF Download
Mudra Yojana Kishor Tarun Loan Form PDF Download

Also view the checklist for filling PMMY Shishu Loan application form in the PMMY bankers kit.

What is Pradhan Mantri MUDRA Loan Yojana

Micro Units Development & Refinance Agency Ltd. (MUDRA) is an institution for development and refinancing micro finance institutions such as banks, NBFCs, MFIs and Other financial intermediaries, which are in the business of lending to manufacturing, processing, trading and service sector activities whose credit needs is less than Rs. 10 lakh.

MUDRA provides refinance Support to banks, NBFCs / MFIs for PMMY. Other than the refinance product, MUDRA will also provide development support to the sector through other products. The other product offerings as depicted in the diagram below will be targeted across the spectrum of beneficiary segments.

MUDRA Products
MUDRA Products

Who can avail the MUDRA loan under PMMY
All non-farm sector income generating activities such as manufacturing, trading and services whose credit needs below Rs. 10 lakh are known as MUDRA Loans under Pradhan Mantri Mudra Yojana (PMMY).

Types of Loans under Pradhan Mantri Mudra Yojana (PMMY)

However there is certain eligibility criteria to get a loan under MUDRA Yojana. Any individual including women, proprietary concern, partnership firm, private limited company or any other entity are eligible applicant under PMMY loans. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has formulated three Schemes to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur:-

  1. Shishu: Loans upto Rs. 50,000. This stage would cater to entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.
  2. Kishor: Loans above Rs. 50,000/- and up to Rs. 5 lakh. This section of entrepreneurs would belong to either those who have already started their business and want additional funds to mobilize their business.
  3. Tarun: Loans above Rs. 5 lakh and up to Rs.10 lakh. If an entrepreneur meets the required eligibility conditions, he/she could apply loan for upto Rs.10 lakhs. This would be the highest level of amount that an entrepreneur could apply for a startup loan.

The MUDRA loans under the PMMY can be taken from the approved Non Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Public/Private Sector commercial banks and Regional Rural Banks (RRBs) across India. The loans will be sanctioned by the lending institutions as per the eligibility.

Eligibility Criteria for PM Mudra Loan Scheme 2022

All the applicants must fulfill the basic eligibility criterion to become eligible for bank loans under PM Mudra Yojana 2022. The business should be either one of the following:-

  • Small manufacturing enterprise
  • Shopkeepers
  • Fruit and Vegetable vendors
  • Artisans
  • ‘Activities allied to agriculture’, e.g. pisciculture, bee keeping, poultry, livestock, rearing, grading, sorting, aggregation agro industries, diary, fishery, agriclinics and agribusiness centres, food & agro-processing, etc.(excluding crop loans, land improvement such as canal, irrigation and wells).

List of Documents Required for Mudra Yojana Bank Loan

  1. Self certified copy of identity proof such as Voter ID card / PAN Card / Aadhar Card / Passport / Driving License.
  2. Residence proof which may contain recent telephone or electricity bill, property tax receipt (not older than 2 months). Voter’s ID card, Aadhar Card & Passport of the borrower can also act as proof of residence.
  3. Proof of SC/ST/OBC/Minority.
  4. Copies of relevant licenses/registration certificates/other documents pertaining to the ownership, identity and address of business unit.
  5. The applicant should not be a defaulter in any Bank/Financial institution.
  6. Statement of accounts (for the last six months), from the existing banker, if any.
  7. Balance sheets of the units along with income tax/sales tax return etc of the last 2 years. (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. Project report (for the proposed project) containing details of technical & economic viability.
  10. Sales achieved during the current financial year up to the date of submission of application.
  11. Memorandum and articles of association of the company/Partnership Deed of Partners etc.
  12. Asset & Liability statement from the borrower including Directors & Partners may be sought to know the net-worth in the absence of third party guarantee.
  13. 2 copies of Photographs of each Proprietor/ Partners/ Directors.

PM Mudra Loan Yojana Helpline Number (Contact)

The borrowers who wish to avail MUDRA loan assistance under PMMY can contact directly to the banks, partnered financial institutions and non banking finance companies or the MUDRA nodal officers. MUDRA has identified a total of 97 Nodal Officers across the country at various SIDBI regional/branch offices to act as “First Contact Person” for MUDRA. Below are the links to access the Toll free helpline numbers, list of Nodal officers, banks nodal officers, PMMY mission office contact details and PMMY offices in Mumbai.

PMMY Toll Free Numbers
Bank’s Nodal Officer – PMMY
MUDRA Nodal Officers
MUDRA Officers – Mumbai
PMMY Mission office Contact Details

Progress of PM Mudra Loan Scheme

Here is the year wise progress of PM Mudra Loan Scheme which is defined here:-

Financial Year 2015-2016

  • Number of PMMY Loans Sanctioned: 3,48,80,924
  • Amount Sanctioned : 137449.27 crore
  • Amount Disbursed : 132954.73 crore

Financial Year 2016-2017

  • Number of PMMY Loans Sanctioned: 3,97,01,047
  • Amount Sanctioned : 180528.54 crore
  • Amount Disbursed : 175312.13 crore

Financial Year 2017-2018

  • Number of PMMY Loans Sanctioned: 4,81,30,593
  • Amount Sanctioned : 253677.10 crore
  • Amount Disbursed : 246437.40 crore

Financial Year 2018-2019

  • Number of PMMY Loans Sanctioned: 5,98,70,318
  • Amount Sanctioned : 321722.79 crore
  • Amount Disbursed : 311811.38 crore

Financial Year 2019-2020

  • Number of PMMY Loans Sanctioned: 6,22,47,606
  • Amount Sanctioned : 337495.53 crore
  • Amount Disbursed : 329715.03 crore

Financial Year 2020-2021

  • Number of PMMY Loans Sanctioned: 5,07,35,046
  • Amount Sanctioned : 321759.25 crore
  • Amount Disbursed : 311754.47 crore

Financial Year 2021-2022

  • Number of PMMY Loans Sanctioned: 3,37,01,235
  • Amount Sanctioned : 202759.41 crore
  • Amount Disbursed : 196026.84 crore

The state wise details of loans/money sanctioned under the PM MUDRA Yojana can be found at

2% Interest Subsidy Scheme for Shishu Loan Account Holders under PM Mudra Yojana

Central government has approved 2% Interest Subsidy Scheme for Shishu Loan Account Holders under the Mudra Yojana. This interest subvention will help small businesses to cope up with the difficulties caused due to Coronavirus (COVID-19) lockdown. Under Shishu category of PM Mudra Loan Yojana, the lenders provide collateral-free (without guarantee) loans of upto Rs. 50,000.

The 2% Interest Subsidy Scheme is estimated to cost Rs. 1,542 crore to the central govt. exchequer. The decision to provide interest subvention of 2% for a period of 12 months to all Shishu loan accounts under Pradhan Mantri Mudra Yojana was taken in the Cabinet Committee on Economic Affairs (CCEA) meeting chaired by PM Narendra Modi on 24 June 2020.

At the end of March 2020, around 9.37 crore loan accounts under the Shishu category of PMMY with a total loan amount of about Rs 1.62 Lakh crore were outstanding.

Who Would Be Eligible for 2% Interest Subsidy on Shishu Mudra Loans

The new 2% interest subsidy scheme will be extended to all Shishu loans that are outstanding as on 31 March 2020 and are not in Non-Performing Asset (NPA) category. The interest subvention would be payable for the months in which the accounts are not in NPA category. It includes the months in which loan account becomes a performing asset again, after turning NPA. The new move will incentivize people who are Shishu Loan Account Holders and will make regular repayments of loans under Pradhan Mantri Mudra Yojana.

What is Shishu Mudra Loan Interest Subvention Scheme

The Shishu Mudra Loan Interest Subsidy Scheme is for implementation of one of the measures relating to MSMEs as announced under the Atmanirbhar Bharat Abhiyan. The PM Mudra Loan Scheme was launched by PM Narendra Modi on 8 April 2015. In this scheme, the central govt. provide loans upto Rs. 50,000 under Shishu Category, Rs. 50,000 to Rs. 5 lakh under Kishor Category and Rs. 5 lakh to Rs. 10 lakh under Tarun Category. The non-corporate, non-farm small/micro enterprises can avail these loans.

These loans are classified as MUDRA loans under PMMY. These loans are given by commercial banks, RRBs, small finance banks, MFIs and NBFCs. The Interest Subsidy Scheme Scheme will be implemented through the Small Industries Development Bank of India (SIDBI) and will be in operation for 12 months.

Timelines for Shishu Mudra Loan Interest Subvention

The timelines for Shishu Mudra Loan Interest Subvention Scheme are specified here:-

A) For borrowers who have been allowed a moratorium, as permitted by RBI under the “COVID 19 Regulatory Package”, the scheme would commence post completion of the moratorium period till a period of 12 months. It means that Shishu Mudra Loan Interest Subvention Scheme for small borrowers who are covered under moratorium will be effective from 1 September 2020 till 31 August 2021).
B) For other small borrowers who are not under moratorium, the Interest Subsidy Scheme under Shishu category of Mudra Loans would commence with effect from 1 June 2020 till 31 May 2021.

Impact of Interest Subsidy on Shishu Mudra Loan Borrowers

The central government mentioned that Interest Subsidy Scheme for Shishu Loan Account Holders under Mudra Yojana will be formulated as a specific response to COVID-19 crisis. It will enable people to tackle an unprecedented situation and aims to alleviate financial stress for borrowers at the “bottom of the pyramid” by reducing their cost of credit. The interest subvention on Shishu Loans under Mudra Yojana is expected to provide much needed relief to the sector.

It would enable small businesses to continue functioning without expelling employees due to lack of funds. This Shishu Mudra loan interest subsidy scheme will have a positive impact on the economy and support its revival which is necessary for employment generation in future. The ongoing Coronavirus crisis and subsequent lockdown has led to severe disruption of business for micro and small enterprises which are funded through Shishu Mudra loans.

You can Download Mudra application Form

Pradhan Mantri Mudra Loan
Pradhan Mantri Mudra Loan

Mudra Loan Yojana Interest Rate

Many people have started inquiring about the Mudra Loan Interest. We have got some clarification on this, interest rate wont be fixed and would depend on the type of your business and the bank. Each bank will have their own criteria.

Government may give some subsidy on the interest but the percentage is still not declared. Details on this could be found more on the official site

We have just heard that corporation bank has offered Mudra Loan at interest rate of 11-12%.

How to apply Mudra Loan

There is no formal or structured way of apply Mudra Loan. You will have to approach all the banks listed in this blog and give them the detailed description of your business. Then will ask to to fill the Mudra form. If you already have a current account in that bank then it will help your application to process quickly. If you need any equipment for your business please carry the invoice for the same. This is a collateral free loan so if you have a good credit history then it would help. Please take the acknowledgement slip with you for reference.

Mudra Loan Yojana in SBI

Government has decided to provide loan under Mudra Yojana through SBI from September 25 2015  onwards. Forms of Shishu,tarun and Kishore have already been launched. Under Shishu scheme you could avail loan upto rs 50,000 only. Seems like the first drive of Mudra Bank Yojana in SBI would attract very basic loan ie upto rs 50 thousand only.



Each Bank has been given the target to give loan under this yojana. It is been estimated that each bank unit should give loan to around 25 business units. This is an average figure and cities with more population will get higher number of loans.


In an event organised FM said that the Mudra Loan Yojana is going to help small entrepreneur and eventually would lift Indian economy. This will directly and indirectly create lakhs of jobs.


Gurgaon business men have untill now received around rs 14 crore loan. Around 1400 people have benefited from this scheme.


Narendra Modi had said that Modi Mudra Loan yojana launched is only for small business and rich people cannot avail it. He is still not happy with the way mudra loan has been disbursed.


Rs 50,000 crore have already been given to small business owners in India. Most of these loans have been given in rural areas.


SBI have launched an initiative and in west Bengal and given Shishu loan to women who owns small Business.  As per the news the number of women given loan is 80.


As per report from The Hindu Newspaper almost 31 thousand have been given loans under this flagship scheme. They also said that most of the small business are not aware about it.


Recently Launched Start up India Stand Up India scheme would be aligned with Mudra yojana. So that Start ups has the access for government aided Loans.


Chhattisgarh Government has claimed to disburse Rs.1800 Crore.


PM Narendra Modi from red fort claimed that around 8 cr people have already availed this government business loan.


Government to focus more on giving loans to starts up using this scheme for self employment generation.  It had been hard for modi government to generate new jobs and this scheme can be their face saver.


President Ramnath Kovind have said in parliament that around 10cr people have been benefited from this scheme until now.


PM Modi in his #MudraKiBaatPMKeSath said that around 6 lakh crore mudra loan have been sanctioned to around 12 crore business in India in last 4 years.


As per latest reports, this scheme has helped as many as 3.49 crore new businesspersons. From the inception of this scheme till today, 12.27 crore credits have been sanctioned under this scheme. Reports suggest that till July 2018, this program offered credit to as many as 61.12 crore recipients.


Pradhan Mnarei Mudra Loan NPA :-  It has been reported that this particular flagship scheme of modi have increased the NPA of banks. Banks are bleeding with NPA and if true this could still harm them and Indian Economy.

Mudra Loan Complaint Office (Helpline, Toll Free, Customer care) Numbers

I have got a lot of people inquiring about the complaint office of Mudra loan Yojana. Please find the toll free number on which you can call and file your complaint. Please provide them detailed information and ask them for the complaint id

Mudra Loan Helpline Numbers

Banks offering Mudra Loan

Sno Mudra Loan Banks Interest Rate
1 State Bank of India (SBI) Not yet Known
2 State Bank of Mysore (SBM) Not yet Known
3 State Bank of Hyderabad (SBH) Not yet Known
4 State Bank of Travancore (SBT) Not yet Known
5 State Bank of Bikaner & Jaipur (SBBJ) Not yet Known
6 State Bank of Patiala (SBP) Not yet Known
7 Vijaya Bank Not yet Known
8 United Bank of India 9.65% to 11.15%
9 Union Bank of India 9.65% to 11.15%
10 UCO Bank Not yet Known
11 Syndicate Bank Not yet Known
12 Punjab & Sind Bank (PSB) Not yet Known
13 Oriental Bank of Commerce (OBC) Not yet Known
14 Indian Overseas Bank (IOB) Not yet Known
15 Corporation Bank 11% to 11.9%
16 Central Bank of India (CBI) Not yet Known
17 Canara Bank Not yet Known
18 Bank of Maharashtra (BOM) 9.7% to 11.7%
19 Bank of India (BOI) Not yet Known
20 Bank of Baroda (BOB) Not yet Known
21 Axis Bank Not yet Known
22 Andhra Bank 9.75% to 11.5%
23 Allahabad Bank 9.7% to 11.7%
23 ICICI Bank Not yet Known

Note: All these interest rate are subject to change without notice from banks

Mudra Loan Card

In essence, on one hand when the card acts as a credit card with a pre-approved loan amount, it also acts as a debit card, allowing ATM withdrawals.

Here is a quick look at how the Mudra Card looks like. This is just the approved design by DFS, Gol:

Mudra Loan Card

The Mudra Card will work with RuPay platform and can be used at PoS or Point of Sales. Thus the card will allow users to:

  • Withdraw cash from ATMs
  • Swipe the card at PoS.
  • Can be used as a credit card to avail the overdraft facility.

As of now, only a few banks have managed to jump onto the bandwagon of Mudra Card and it is expected that more and more banks will be joining in quickly. As of now the following banks have come up with Mudra Card:

SNo Bank Name
1 Corporation Bank
2 Punjab National Bank
3 Allahabad Bank
4 Kotak Mahindra Bank
5 Canara Bank
6 Axis Bank
7 State Bank of India
7 Vijaya Bank

Mudra Bank Loan For Women  SC ST and OBC

Government have clarified that women SC ST and OBC Category would be preferred while giving loans under this scheme.  However there is no reservation as such even the criteria of preference has also been not disclosed. We are waiting to consolidate the data which may prove this. You will have to fill this information while filling Mudra Loan form.

Mudra Loan Eligibility Criteria

This loan is only for small businessmen. There is no exact criteria as such. But one thing is for sure you wont get loan if you have a high turnover. One more thing this loan is not for educational purpose, you cannot get this loan for buying a house. You can get a vehicle loan for buying commercial vehicle but not personal. As such all person above 18 years age can apply for Mudra Loan.

These are the list of business for which Mudra Loan cannot be taken.

Sno Mudra Loan Cannot be taken for
1 Personal Requirement
2 Educational Purpose
3 Buying Personal Car or Bike
4 Rich Businessman

Mudra loan vs Personal loan

Mudra loan Personal loan
This type of loan is an entire government administered and approved scheme. So it is safe and secure form of taking credit. This type of loan is given by both government and private financial institutions.
One must have a genuine business plan for getting Mudra loan. No business plan is needed to get personal loans. Only a justifiable reason is required.
This loan is issued through Mudra credit card with a pre assigned credit limit. There is no such issue of separate credit card.
Repayment tenure is as high as 7 years. Repayment tenure is less.


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