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Pradhan Mantri Mudra Yojana (PMMY)

The government announced the Tarun Plus category under the Pradhan Mantri Mudra Yojana (PMMY) on 25 October 2024.  In this banks can sanction loans up to Rs.20 lakh. This decision was announced by Finance Minister Nirmala Sitharaman as part of the Union Budget for 2024-25 in July 2024.

This category will offer loans ranging from 10 lakh rupees to 20 lakh rupees for entrepreneurs who have repaid their previous Tarun loans. 

PMMY loans up to Rs.20 lakh will be provided under the Credit Guarantee Fund for Micro Units (CGFMU).

As per the existing scheme, banks provide collateral-free loans up to Rs.10 lakh under three categories-Shishu (up to Rs.50,000), Kishore (between Rs.50,000 and Rs.5 lakh) and Tarun (Rs.10 lakh).

Posted Date: October 26, 2024

National