Pradhan Mantri Mudra Yojana (PMMY)
This scheme is to help start-ups and small businesses with micro credits upto Rs. 10 lakhs. This scheme supports financial intermediaries to struch loans to non-farm, non-corporate sectors with activities generating incomes.
Shishu (Covering loans upto Rs. 50,000/-)
This stage would cater to entrepreneurs who are either in their primitive stage or require lesser funds in order to get their businesses started.
Kishor (Covering loans upto Rs. 5,00,000/-)
This section of entrepreneurs would belong to either those who have already started their business and want additional funds to mobilize their business.
Tarun (Covering loans upto Rs. 10,00,000/-)
If an entrepreneur meets the required eligibility conditions, he/she could apply for a loan for upto Rs.10 lakhs. This would be the highest level of amount that an entrepreneur could apply for a startup loan.
The lending rates are as per the RBI guidelines issued in this regard from time to time.