PMMY Eligibility Criteria – Pradhan Mantri Mudra Yojana Eligibility Criteria
Mudra loan is extended for a variety of purposes which provide income generation and employment creation. The loans matching PMMY eligibility criteria are extended mainly for:
- Business loan for Vendors, Traders, Shopkeepers and other Service Sector activities.
- Working capital loan through MUDRA Cards.
- Equipment Finance for Micro Units.
- Transport Vehicle loans.
List of activities that can be covered under Pradhan Mantri MUDRA Yojana (PMMY)
- Transport Vehicle: Purchase of transport vehicles for goods and personal transport such as auto rickshaw, small goods transport vehicle, 3 wheeler, e-rickshaw, passenger cars, taxis, etc.
- Community, Social & Personal Service Activities: Salons, beauty parlors, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and Photocopying Facilities, Medicine Shops, Courier Agents, etc.
- Food Products Sector: Activities such as papad making, achaar making, jam / jelly making, agricultural produce preservation at rural level, sweet shops, small service food stalls and day to day catering / canteen services, cold chain vehicles, cold storages, ice making units, ice cream making units, biscuit, bread and bun making, etc.
- Textile Products Sector / Activity: Handloom, power loom, khadi activity, chikan work, zari and zardozi work, traditional embroidery and hand work, traditional dyeing and printing, apparel design, knitting, cotton ginning, computerized embroidery, stitching and other textile non garment products such as bags, vehicle accessories, furnishing accessories, etc.
- Business loans for Traders and Shopkeepers: Financial support for on lending to individuals for running their shops / trading & business activities / service enterprises and non-farm income generating activities with beneficiary loan size of upto 10 lakh per enterprise / borrower.
- Equipment Finance Scheme for Micro Units: Loan of upto 10 lakh for purchasing necessary machinery, equipment for the micro enterprise.
- Activities allied to agriculture: ‘Activities allied to agriculture’, e.g. pisciculture, bee keeping, poultry, livestock, rearing, grading, sorting, aggregation agro industries, diary, fishery, agriclinics and agribusiness centers, food & agro-processing, etc.(excluding crop loans, land improvement such as canal, irrigation and wells) and services supporting these, which promote livelihood or are income generating shall be eligible for coverage under PMMY in 2016-17.
- MUDRA Card is an innovative product which provides working capital facility as a cash credit arrangement. MUDRA Card is a debit card issued against the MUDRA loan account, for working capital portion of the loan. The borrower can make use of MUDRA Card in multiple withdrawal and credit, so as to manage the working capital limit in a most efficient manner and keep the interest burden minimum. MUDRA Card will also help in digitalization of MUDRA transactions and creating credit history for the borrower.
- National Payment Corporation of India (NPCI) has given RuPay branding to MUDRA Card and also separate BIN / IIN for the same, by which credit history can be tracked.
- MUDRA Card can be operated across the country for withdrawal of cash from any ATM / micro ATM and also make payment through any ‘Point of Sale’ machines.
The design of the MUDRA card as approved by DFS, GoI and NPCI is given below. Banks can customize the same by incorporating their logo and name.
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