Pradhan Mantri MUDRA Yojana Enhances Loan Cap - Details Here

MyGovIndia posted on X that Pradhan Mantri MUDRA Yojana has increased its loan limit from Rs 10 Lakh to Rs 20 Lakh. The post also said that it is a positive move towards the government's goal of promoting financial inclusion.

PM MUDRA Yojana Ups Loan Limit

MyGovIndia posted on X, "Pradhan Mantri MUDRA Yojana has sanctioned over 51 crore loans worth Rs 32 lakh crore+, supporting women (68%) and SC/ST/OBC entrepreneurs (50%)

With an increased loan limit of ₹20 lakh, this initiative continues to boost entrepreneurship and financial inclusion across India."

What Is PM MUDRA Yojana

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Prime Minister on April 8, 2015 for providing loans up to 20 lakh to the non-corporate, non-farm small/micro enterprises. The loan is for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category.

These loans are classified as MUDRA loans under PMMY. Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs give these loans. 

The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in . 

Under the aegis of PMMY, MUDRA has created four products namely 'Shishu', 'Kishore', 'Tarun', and 'TarunPlus' to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur and also provide a reference point for the next phase of graduation/growth.