Full details of Pradhan Mantri MUDRA Yojana (PMMY)

Pradhan Mantri MUDRA Yojana (PMMY)

KEY POINTS

• The interventions have been named 'Shishu', 'Kishor' and 'Tarun' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur
• Shisu : covering loans upto Rs 50,000/-
• Kishor : covering loans above Rs 50,000/- and upto Rs 5 lakh
• Tarun : covering loans above Rs 5 lakh and upto Rs 10 lakh
• The funding support from MUDRA are of four types :
  
• 1.Micro Credit Scheme :
  Micro Credit Scheme is offered mainly through Micro Finance Institutions (MFIs), which deliver the credit upto Rs.1 lakh, for various micro enterprise activities.
• 2.Refinance Scheme for Banks :
  The refinance is available for term loan and working capital loans, upto an amount of Rs 10 lakh per unit.
• 3.Women Enterprise Programme :
  At present, MUDRA extends a reduction of 25bps in its interest rates to MFIs / NBFCs, who are providing loans to women entrepreneurs.
• 4.Securitization of loan portfolio :
  provides second loss default guarantee, for credit enhancement and also participating in investment of Pass Through Certificate (PTCs) either as Senior or Junior investor

AIM

• Mudra loan is extended for a variety of purposes which provide income generation and employment creation.
  The loans are extended mainly for :
  Transport Vehicle loans
  Community, Social & Personal Service Activities
  Food Products Sector
  Textile Products Sector / Activities
  Business loans for Traders and Shopkeepers
  Equipment Finance Scheme for Micro Units

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