➡️Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY.

🔸These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in

There are three types of mudra loan schemes, namely Tarun, Kishor, and Shishu.

- Shishu Up to Rs.50,000
- Kishor Rs.50,000 to Rs.5 lakh
- Tarun Rs.5 lakh to Rs.10 lakh

Below we have provided simple steps to apply for a Mudra loan online:

🔸Step 1: Download the loan application form from the bank’s official website (any bank or nbfc associated for PMMY) mostly all bans are associated.

🔸Step 2: Fill in the application form with the required details and attach relevant documents

🔸Step 3: Submit the application form online at the official bank’s website to get a reference ID or number

🔸Step 4: Bank’s representative will connect with you to proceed with the loan formalities. So keep the reference ID number handy

🔸Step 5: After the loan application form and attached documents are processed and verified, the loan amount shall be approved and further disbursed by the bank to your bank account.

Source: PMMY
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