Who is eligible for MUDRA Bank Loan
Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY).
The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The lending rates are as per the RBI guidelines issued in this regard from time to time.
There is lots of confusion in the market that which industries are cover under MUDRA Yojana. We are getting lots of query continuously about it. MUDRA covers almost all industries & sectors specially in rural areas. MUDRA designs specially for weaker section who have good entrepreneur skill & need working capital to start business.
MUDRA operates a special scheme for women entrepreneurs under Mahila Uddyami Scheme.
List of industries which are eligible for MUDRA Bank loan.
- Non – Corporate Small Business Segment (NCSBS) comprising of millions of proprietorship / partnership firms running as small manufacturing units.
- Service sector units :- Such as saloons, beauty parlours, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and Photocopying Facilities, Medicine Shops, Courier Agents, etc.
- Fruits / vegetable vendors
- Truck operators :- purchase of transport vehicles for goods and personal transport such as auto rickshaw, small goods transport vehicle, 3 wheelers, e-rickshaw, passenger cars, taxis, etc.
- Food-service units
- Repair shops
- Machine operators
- Small industries:- handloom, powerloom, 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.
- Food processors :- 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.
- Lots of others in rural and urban areas.