{"id":140107,"date":"2024-10-26T18:58:12","date_gmt":"2024-10-26T13:28:12","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=140107"},"modified":"2025-02-13T15:59:29","modified_gmt":"2025-02-13T10:29:29","slug":"pradhan-mantri-mudra-yojana-pmmy","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/pradhan-mantri-mudra-yojana-pmmy","title":{"rendered":"Pradhan Mantri Mudra Yojana (PMMY)"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Loan limit under Pradhan Mantri Mudra Yojana (PMMY) increased to Rs.20 lakh from the current Rs.10 lakh.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is in sync with the announcement made by the Finance Minister in the Union Budget 2024-25.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This increase aspires to further the overall objective of the Mudra Scheme which is Funding the Unfunded.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The move is in alignment with the Government&#8217;s commitment in fostering a robust entrepreneurial ecosystem.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Recent Modification<\/b><\/span><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">The new category of <\/span><b>Tarun Plus<\/b><span style=\"font-weight: 400;\"> is\u00a0 for Loans above <\/span><b>Rs. 10 lakh and upto Rs. 20 lakh<\/b><span style=\"font-weight: 400;\">\u00a0 has been created.<\/span><\/li>\n<li><b>Eligibility: <\/b><span style=\"font-weight: 400;\">The facility would be available to the entrepreneurs who\u00a0 have availed and successfully repaid <\/span><b>previous loans under the Tarun category.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li aria-level=\"1\"><b>Guarantee:<\/b><span style=\"font-weight: 400;\"> The guarantee coverage of PMMY loans upto Rs. 20 lakh will be provided under the <\/span><b>Credit Guarantee Fund for Micro Units (CGFMU)<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Pradhan Mantri Mudra Yojana (PMMY)<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">PM Mudra scheme was launched on April 8,<\/span><b> 2015<\/b><span style=\"font-weight: 400;\"> for providing <\/span><b>collateral-free loans up to 10 lakh<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">These loans are classified as<\/span><b> MUDRA loans<\/b><span style=\"font-weight: 400;\"> under PMMY.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Objective:<\/b><span style=\"font-weight: 400;\"> To provide loans up to 10 lakh to non-corporate, non-farm small and micro enterprises through Banks, Non-Banking Financial Companies (NBFCs), and Micro Finance Institutions (MFIs).<\/span><\/li>\n<li><b>Nodal Ministry:<\/b><span style=\"font-weight: 400;\"> Ministry of Finance.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MUDRA, stands for <\/span><b>Micro Units Development &#038; Refinance Agency Ltd.<\/b><span style=\"font-weight: 400;\">, is a financial institution set up by the Centre.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MUDRA was initially formed as a wholly owned subsidiary of the Small Industries Development Bank of India (SIDBI) with<\/span><b> 100% capital<\/b><span style=\"font-weight: 400;\"> being contributed by it.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MUDRA does not lend directly to micro-entrepreneurs\/individuals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Various types of loan options available:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Shishu:<\/b><span style=\"font-weight: 400;\"> Covers loans upto 50,000.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Kishor:<\/b><span style=\"font-weight: 400;\"> Covers loans above 50,000 and upto 5 lakh.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Tarun:<\/b><span style=\"font-weight: 400;\"> Covers loans above 5 lakh and upto 10 lakh.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 100.043%;\">\n<tbody>\n<tr>\n<td style=\"width: 130.811%; 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