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Syndicate Bank Pradhan Mantri Mudra Yojana

PRADHAN MANTRI MUDRA YOJANA (PMMY) – MUDRAPRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of Government of India, was launched on8th April, 2015 by the Hon’ble Prime Minister to “fund the unfunded” by bringing such enterprises to theformal financial system and extending affordable credit to them.Micro Units Development & Refinance Agency Ltd. (MUDRA) is a new institution set up by Government of Indiato provide funding to the non-corporate, non-farm sector income generating activities of micro and smallenterprises whose credit needs are below ₹10 Lakh.Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has created three products i.e. ‘Shishu’,’Kishore’ and ‘Tarun’ as per the stage of growth and funding needs of the beneficiary micro unit. Theseschemes cover loan amounts as below:A. Shishu: covering loans up to ₹50,000B. Kishore: covering loans above ₹50,000 and up to ₹5,00,000C. Tarun: covering loans above ₹5,00,000 and up to ₹10,00,000All Non-Corporate Small Business Segment (NCSBS) comprising of proprietorship or partnership firms runningas small manufacturing units, service sector units, shopkeepers, fruits/vegetable vendors, truck operators,food-service units, repair shops, machine operators, small industries, food processors and others in rural andurban areas, are eligible for assistance under Mudra.Bank branches would facilitate loans under Mudra scheme as per customer requirements. Loans under thisscheme are collateral free loans. For eligible borrower up to Rs25000/- working capital loans MUDRA Card willissued.Eligibility: • All “Non farm enterprises” • Under “Micro Enterprises” and “Small Enterprises” segment • Engaged in “income generating activities” • Engaged in “manufacturing, trading and services“ and • Whose “credit needs are up to Rs.10.00 lacs”Credit Facilities: • Any type of Fund Based or Non Fund Based facility. • No Minimum amount. Maximum Amount – Rs.10.00 lacs

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