Pradhan Mantri Mudra Yojana

Launched in 2015 by the Ministry of Finance, the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme provides loans up to Rs. 10 lakh to non-corporate, non-farm small/micro enterprises. MUDRA, a government financial institution, offers funding through banks, NBFCs, and MFIs but does not directly lend to individuals. It has three loan products based on the business’s growth stage: Shishu (up to Rs. 50,000), Kishore (Rs. 50,000 to Rs. 5 lakh), and Tarun (Rs. 5 lakh to Rs. 10 lakh), supporting small businesses at various stages of development.