22. Pradhan Mantri MUDRA Yojana
The Modi government has set up the MUDRA (Micro Units Development & Refinance Agency Ltd. ) which aims to provide financial assistance to theMicro Small and Medium Enterprises (MSME) for their activities in the non-farm and non-corporate sector. The Pradhan Mantri MUDRA Yojana (PMMY), however, provides funding to the organizations whose credit needs fall below ₹10 Lakh.
Under this scheme, there are three stages which marks the funding needs and growth of the beneficiary organization in the question. These are:
Shishu: This covers loans less than ₹50,000
Kishore: This covers loans more than ₹50,000 and less than ₹5,00,000
Tarun: This covers loans more than ₹5,00,000 and less than ₹10,00,000
Under this scheme, eligible business segments include food-service units, fruits/vegetable vendors, service sector units, truck operators, machine operators, food processors, repair shops, small industries, and more.