Which Banks are Offering Mudra Loans?

The Pradhan Mantri Mudra Yojana (PMMY) is a scheme launched by the Government of India to provide financial support to small businesses and entrepreneurs through loans. This initiative aims to promote entrepreneurship and support the growth of micro-enterprises. Various banks in India participate in this scheme, offering Mudra loans to eligible candidates. These loans are categorized into three types: Shishu (up to ₹50,000), Kishore (₹50,000 to ₹5 lakhs), and Tarun (₹5 lakhs to ₹10 lakhs). Here is a detailed look at some of the prominent banks that offer Mudra loans:

1. State Bank of India (SBI):

   • Overview: SBI, being one of the largest public sector banks in India, offers Mudra loans under its comprehensive loan portfolio.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Small businesses, micro-enterprises, and individuals with a viable business plan.

2. Punjab National Bank (PNB):

   • Overview: PNB provides Mudra loans to support small and medium-sized enterprises (SMEs) and micro-enterprises.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Entrepreneurs with a sound business idea and a plan for expansion.

3. Bank of Baroda (BoB):

   • Overview: Bank of Baroda offers Mudra loans to facilitate the growth of small businesses and self-employed individuals.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Individuals and businesses seeking capital for expansion or starting new ventures.

4. HDFC Bank:

   • Overview: HDFC Bank provides Mudra loans with a focus on supporting entrepreneurs and small businesses across India.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Small businesses, startups, and individuals with a promising business plan.

5. ICICI Bank:

   • Overview: ICICI Bank offers Mudra loans with flexible repayment options to support micro-enterprises and small businesses.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Entrepreneurs and small business owners with a viable business proposal.

6. Axis Bank:

   • Overview: Axis Bank provides Mudra loans to promote entrepreneurship and support micro and small enterprises.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Small businesses, startups, and individuals with a credible business idea.

7. Canara Bank:

   • Overview: Canara Bank offers Mudra loans to help businesses with financial needs for expansion and operations.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Small and micro-enterprises, and entrepreneurs with a business plan.

8. Union Bank of India:

   • Overview: Union Bank of India provides Mudra loans aimed at fostering the growth of small businesses and startups.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Individuals and businesses with a clear business plan and growth potential.

9. Kotak Mahindra Bank:

   • Overview: Kotak Mahindra Bank offers Mudra loans with a focus on supporting small-scale enterprises and new ventures.
   • Types of Loans: Shishu, Kishore, Tarun
   • Eligibility: Small businesses, self-employed individuals, and startups.

10. IDFC FIRST Bank:

    • Overview: IDFC FIRST Bank provides Mudra loans to support the growth of micro-enterprises and small businesses.
    • Types of Loans: Shishu, Kishore, Tarun
    • Eligibility: Entrepreneurs and small business owners with a strong business plan.

These banks offer Mudra loans to various segments of the population, including entrepreneurs, small business owners, and self-employed individuals. Each bank has its own set of eligibility criteria and application procedures, but they all aim to support the growth of micro and small enterprises through this scheme.

For the latest updates and specific details about Mudra loans, including interest rates and application procedures, it is advisable to visit the respective bank's website or contact their customer service.