Pradhan Mantri MUDRA Yojana — Frequently Asked Questions
Answers to the questions founders most often ask about Pradhan Mantri MUDRA Yojana — who qualifies, the funding amount, required documents and how the application works.
Frequently asked questions
What is the maximum loan amount under PMMY?
The maximum loan amount is ₹20 lakh under the Tarun Plus category.
Is there an application deadline for MUDRA loans?
No, the scheme does not specify a deadline; applications are accepted on a rolling basis through participating lenders.
Who can apply for a MUDRA loan?
Non-corporate, non-farm small and micro enterprises including individuals, sole proprietorships, and partnerships engaged in manufacturing, trading, services, or allied agriculture.
Do I need DPIIT or MSME registration to apply?
No, DPIIT or MSME registration is not required for PMMY.
Does PMMY take equity in my business?
No, MUDRA loans are debt instruments; no equity is taken.
What documents are typically required to apply?
Standard loan documents such as identity proof, address proof, business plan, and financial statements may be required, but specifics vary by lender.
How do I apply for a MUDRA loan?
You can apply by approaching any bank, NBFC, or MFI that offers MUDRA loans. Visit the official website at www.mudra.org.in for more details.
Is collateral required for MUDRA loans?
No, MUDRA loans are collateral-free.
How much funding does Pradhan Mantri MUDRA Yojana provide?
Pradhan Mantri MUDRA Yojana provides ₹50,000 – ₹20L (range) as grant. Always confirm the exact amount and any conditions on the official site, as figures can change between cohorts.
Who offers Pradhan Mantri MUDRA Yojana?
Pradhan Mantri MUDRA Yojana is offered by Government of India, a government body. It is provided as non-dilutive funding.