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Understanding ETFs Uses, Returns and Comparison with Mutual Funds and Stocks

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PRADHAN MANTRI MUDRA YOJANA (PMMY)


Micro Units Development Refinance Agency (MUDRA) was proposed by the Union Finance Minister in the Budget 2015-16 and it was created with corpus of 20000/- crore and Credit Guarantee corpus of 3000/- crore. The purpose of MUDRA bank is regulating and refinancing all Micro-Finance Institutions (MFIs) which are in business of lending to Micro or Small business entities involved in Manufacturing, Services, Retail and Agri. Allied Activities through Pradhan Mantri MUDRA Yojana (PMMY).

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme that has been launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY). These loans are given by Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, Cooperative Banks, Micro-Finance Institutions (MFIs) and Non-Banking Finance Companies (NBFCs). 

MUDRA has been established with mission "To create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security" to fulfill the vision of comprehensive economic and social development of bottom of the pyramid universe. 

MUDRA do not lend directly to the micro entrepreneurs / individuals. The borrower can approach any of the lending institutions mentioned above or can apply online through the mudra mitra portal https://www.mudramitra.in/ . Official website of MUDRA is https://www.mudra.org.in.

Under PMMY, there are three categories of Products named as below



1. Shishu - It covers loan upto 50000/- (Fifty Thousands)
2. Kishore - It covers loan above 50000/- (Fifty Thousand) and up to 500000/- (5 Lakh)
3. Tarun - It overs loan above 500000/-  (5 Lakh) and up to 1000000/- (10 Lakh)

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