What Is Mudra Loan Under Pradhan Mantri Mudra Yojana?
The Pradhan Mantri Mudra Yojana (PMMY) loan scheme is a Government-backed loan scheme that provides micro and small business enterprises by institutions (banks/NBFCs) without any collateral.
Under the scheme, eligible applicants will be able to apply for Mudra Loan through banks, NBFCs and micro finance institutions. The loans are intended for productive activities such as manufacturing, trade and service industries.
Mudra Loans are classified officially under:-