Pradhan Mantri Mudra Yojana 2023 (PMMY) is a government-funded loan scheme launched by the Government of India in April 2015, designed to help small and micro businesses access finance with minimal paperwork. Under the scheme, loans of up to Rs 10 lakhs are available without any collateral, and interest rates are kept low. The scheme is open to all Indian citizens between the ages of 18 and 60, who are either self-employed or own a business. In the 2021-22 budget, the Government of India has allocated an additional Rs 2,000 crore for the scheme, which is expected to boost the availability of credit for small businesses. This will help entrepreneurs to access the necessary funds to start and grow their businesses.
Loans are given for 3 years to 5 years in PMMY. Loans are given based on the size of the business. The Mudra loan available under PMMY is divided into 3 parts. it’s three parts
Types of Pradhan Mantri Mudra Yojana 2023
We will criticize in detail below about the small businessmen who will be given loans under the PMMY scheme.
- agricultural sector
- self employed entrepreneur
- food production industry
- small scale producer
- truck owner
- service based organization
- Restoration and Repair Shops
Pradhan Mantri Mudra Yojana 2023 Eligibility
We will discuss about the documents required for applying in Pradhan Mantri Mudra Yojana.
- Minimum age of eligibility – 18 years
- Maximum age of eligibility – 65 years
Pradhan Mantri Mudra Yojana 2023 Documents Required
We will tell you about the necessary documents required to apply for MUDRA Loan.
- proof of residence
- proof of website
- passport size photo
- Cast Certificate (if any)
Pradhan Mantri Mudra Yojana 2023 Sectors Under
We are going to give information about the areas from which people can apply by filling the PMMY application form. From the list given below, you can get information about which areas you can fill the PMMY application form.
- food related sector
- Goods and Passenger Transport Sectors
- for community, social and individual work
- For shopkeepers and merchants
- for textile sector
- Agriculture Sector Salem
- To buy equipment useful in any small or medium business