Pradhan Mantri MUDRA Yojana: eligibility, documents and how to apply for it
Who can apply for Pradhan Mantri MUDRA Yojana
- Micro enterprises in manufacturing, trading and services, and allied farm activities such as dairy, poultry and beekeeping, needing loans up to Rs 20 lakh.
- Shishu up to Rs 50,000, Kishore up to Rs 5 lakh, Tarun up to Rs 10 lakh, and Tarun Plus up to Rs 20 lakh for borrowers who have repaid a Tarun loan.
Documents required for Pradhan Mantri MUDRA Yojana
- Identity and address proof
- Business plan or quotation for machinery and stock
- Proof of the business address
- Category certificate, if any
How to apply for Pradhan Mantri MUDRA Yojana, step by step
- Prepare a short business plan and quotations for what you need to buy.
- Apply at a bank, small finance bank, NBFC or microfinance branch, or online on the Jan Samarth portal.
- No collateral is needed. The lender appraises and sanctions the loan.
- Repay on time to qualify for the next category.
Sources: MUDRA, Ministry of Finance
JanWatchdog does not take applications, documents or fees. Apply on the official portal or at the office named above; applying is free and no agent is needed.
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