Pradhan Mantri Mudra yojana (PMMY) Scheme for Regional Rural Banks
The Pradhan Mantri Mudra Yojana (PMMY) is a program Presented by the Indian government to provide finance to the unfunded" by bringing such firms into the proper financial system and providing them affordable credit. It allows a small borrower to borrow from all public sector banks such as PSU banks, regional rural banks and cooperative banks, private sector banks, foreign banks, microfinance institutions (MFIs) and non-bank financial corporation’s (NBFCs) for loans of up to Rs 10 hundreds of thousands of income-generating non-agricultural assets. The scheme was launched on April 8, 2015 by Prime Minister. · Eligibility : Any Indian resident who has a business plan for a non-farm income-generating business like manufacturing, processing, trade or service sector and whose credit requirement is less than Rs 10 lakh can go to a bank , an MFI or a NBFC to avail of Loans from Micro Units Development & Refinance Agency L...

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