- Launched in 2015 by the Indian Government, PMMY provides affordable credit to micro and small enterprises.
- Ministry
- Ministry Of Finance
- Aims
- The scheme aims at integrating underserved enterprises into the formal financial system.
- Loan
- Loan details include loans up to ₹10 lakh for non-farm income-generating activities.
- Eligibility
- Eligibility for loans is open to any Indian citizen with a viable business plan.
- Shishu (upto ₹50,000), Kishore (₹50,000 to ₹5 lakh), and Tarun (£5 lakh to ₹10 lakh).
- Subsidy
- There is no direct subsidy available under PMMY, but can be eligible if linked with any Government scheme which provides capital subsidy.
- MUDRA 1.0
- MUDRA 1.0 sanctioned over Rs 27.75 lakh crores to 47 crores of new and small entrepreneurs.
- Nearly 69% of MUDRA loan accounts are female account holders, and 51% are SC/ST and OBC entrepreneurs.
- It has provided employment opportunities, mainly in rural and semi-urban regions.
Vision for MUDRA 2.0
- Extended outreach:
- Enhance reach, comprehensive services, launch country-wide financial literacy initiatives, incorporate an ECGS, robust RMEF, and impact assessments with a positive spin.
