Pradhan Mantri Mudra Yojana

Any individual aged 18 years or above engaged in micro or small business activities in the non-corporate and non-farm sector can apply. This includes first-time entrepreneurs, existing business owners seeking expansion, and people from all income groups and social categories.

Shishu provides loans up to Rs.50,000 for new entrepreneurs; Kishore offers Rs.50,001 to Rs.5 lakh for businesses showing growth; Tarun extends Rs.5 lakh to Rs.10 lakh for established businesses seeking expansion. Each category is designed for different business stages.

No, PMMY loans are provided completely collateral-free. Applicants do not need to provide any security or guarantee. However, lenders may require a personal guarantee depending on loan amount and their internal policies.

Visit any bank branch, NBFC, or microfinance institution participating in the scheme. Submit your application form with necessary documents including identity proof, address proof, business plan, and bank details. The application process typically takes 7-10 days for approval.

No, there is no income ceiling for PMMY. Applicants from all income groups are eligible, making it truly inclusive for financial support to entrepreneurs across all socioeconomic backgrounds.