The Pradhan Mantri Mudra Yojana (PMMY) is a compassionate government initiative in India, dedicated to empowering the dreams of countless individuals by providing vital financial support to micro and small enterprises. By offering collateral-free loans of up to ₹10 lakh, the scheme provides a crucial lifeline to those who seek to build their own businesses and contribute to their communities.
With three distinct categories—Shishu, Kishore, and Tarun—this program is thoughtfully designed to meet the diverse needs of entrepreneurs at every stage, fostering job creation and nurturing the growth of small businesses as cornerstones of our economy.
Table of Contents
Eligibility Criteria
Applicants must meet the following conditions:
- Be an Indian citizen.
- Operate a micro or small enterprise in the non-farm sector.
- Possess valid KYC documents such as Aadhaar and PAN.
- Have a feasible business plan or project proposal.
- Not require collateral for the loan.
Online Application Process
1. Visit the Udyamimitra Portal
- Go to www.udyamimitra.in.
- Choose a participating bank branch.
- Click “Apply Now” to start the registration.
2. Create an Account
- Enter personal details, including name, mobile number, and Aadhaar.
- Set a secure password.
- Verify email and mobile through OTPs.
3. Complete the Application Form
- Provide business details: name, type, nature of activity.
- Specify loan amount required and intended use.
- Attach projected financial statements.
4. Upload Required Documents
- KYC: Aadhaar, PAN, passport-size photo.
- Business proof: GST registration, Udyog Aadhaar, or business certificate.
- Bank statements (last six months).
- Project report/business plan.
- Additional documents as requested by the bank.
5. Submit the Application
- Verify all details and documents.
- Submit electronically and save the reference ID.
6. Bank Verification and Processing
- The selected bank will verify submitted details.
- A bank officer may contact the applicant for clarification.
- Successful verification leads to loan processing.
7. Loan Approval and Disbursement
- Upon approval, funds are credited directly to the applicant’s bank account.
- Disbursement may occur in one or multiple installments.
Direct Bank Applications
Banks also allow online PMMY registration directly. Some options include:
- HDFC Bank
- Axis Bank
- Bank of India
- Central Bank of India
The bank-based application mirrors the portal process: account creation, form filling, document upload, and verification.
Documents Required
Applicants must provide:
- Identity proof: Aadhaar, PAN, passport, or voter ID.
- Address proof: Utility bills, bank statements, or rental agreements.
- Business proof: GST registration, Udyog Aadhaar, or business certificate.
- Bank statements for the last six months.
- Passport-sized photographs.
- Project/business plan.
Related Links
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Key Benefits of PMMY
- Collateral-Free Loans: No security required.
- Flexible Amounts: ₹50,000 to ₹10 lakh.
- Competitive Interest Rates: As per RBI guidelines.
- Repayment Tenure: Up to 5 years.
- Sector Coverage: Manufacturing, trading, services, and allied agricultural activities.
Contact Information
- Udyamimitra Helpline: 1800-180-6763
- Email: support@udyamimitra.in
- Bank-Specific Helplines: Available on individual bank websites.
Following these steps ensures a smooth registration and timely disbursement of PM Mudra loans for micro and small enterprises.
