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List of Partner Institution for Mudra Scheme

Micro enterprises are the backbone of India’s economy and form a major part of the Micro, Small and Medium Enterprises (MSME) pie. India has 6.3 crore micro enterprises, making up for over 99 per cent of the MSME pie, as per an annual report from 2019.

The Pradhan Mantri Mudra Yojana was launched in 2015 in order to focus on the financing needs of the vast number of micro units in the country. Mudra is the acronym for Micro Units Development & Refinance Agency, a registered non banking finance institution. Micro enterprises are the biggest employment providers after agriculture. These enterprises, offering employment to over 10 crore people across the country, typically are into processing, manufacturing, services and trading sector. They could also be involved in non-farming allied agriculture-related activities.

The PMMY or Mudra loan scheme doesn’t directly lend to entrepreneurs but these loans are availed from non banking financial companies (NBFCs), commercial banks, small finance banks, and regional rural banks (RRBs). Any one who wants to avail a loan for their micro unit would need to approach any of these lenders or Mudra banks.

Mudra loans are categorised into three brackets, depending on the loan amount. Accordingly, the Shishu Yojana offers loans for up to Rs. 50,000. The Kishore Yojana offers loans up to Rs. 5 Lakhs. If you have a higher amount, you could opt for the Tarun Yojana which enables you to avail a loan of up to Rs. 10 Lakhs.

If you are a micro entrepreneur, you could opt for one of these loans depending on the amount you would require. If you want a higher amount, you could look up one of the MSME loan products or business loans, available on Finserv MARKETS. It is easy to apply for these loans online with minimal documentation. Loans are approved quickly, and the repayment tenure is flexible. 

Mudra Loan Bank List

Corporation Bank

Dena Bank

Federal Bank


Allahabad Bank

Andhra Bank

Axis Bank

Bank of Baroda

J&K Bank

Karnataka Bank

Kotak Mahindra Bank

Oriental Bank of Commerce

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India


Indian Bank

Indian Overseas Bank

United Bank of India

Syndicate Bank

Tamilnad Mercantile Bank

UCO Bank

Union Bank of India

Punjab and Sind Bank

Punjab National Bank

Saraswat Bank

State Bank of India



Eligibility Criteria For Banks Providing Mudra Loan

If you are specifically looking at a loan, it also helps to understand that Mudra has a list of partner institutions. These partner institutions on the Mudra bank list need to fulfill certain eligibility criteria before they are onboarded. 

For public sector banks, the level of NPAs should not exceed 15 per cent, while for private sector or foreign banks, this level should not cross 10 per cent. For regional rural banks, the net NPA level should be less than or equal to 3 per cent. While the RRBs should have earned a net profit for the previous two years, the private and public sector banks should have profited in the last two years, or must have a rating of over A minus from credit rating agencies. For small finance banks too, the profits earned over the last two financial years will be considered, or ratings and discretion may be used by Mudra for eligibility. Also, their net NPA should be equal to or less than 3 per cent. There are several other criteria before partner institutions are selected to be part of the Mudra bank list. 

For microfinance institutions too, there are several criteria. One of them is that the MFI should undergo a minimum of three ratings with the latest grading of at least MfR3, as per MUDRA or SIDBI guidelines. This is necessary for exposure of above Rs. 25 crore by Mudra. 

NBFCs too need to show a track record of five years with profits over the last three years, among other eligibility criteria before being chosen as partner institutions or Mudra banks. 

Once Mudra looks at the criteria, a list of 203 partner institutions or Mudra banks has been shortlisted. These include 15 cooperative banks, 25 microfinance institutions, 35 NBFCs, 47 NBFC-MFI, 18 private sector banks, 21 public sector banks, 36 RRBs, and 6 small finance banks. The whole list is available on the Mudra website. These institutions serve potential beneficiaries across the country and would ensure superior delivery of Mudra loan scheme to those in need. 

Thanks to the Mudra bank list, PMMY aims to achieve last mile credit delivery so that no one in need of a business loan gets left behind. 

Looking for a Mudra loan?

If you are looking at a Mudra loan scheme and are the owner of a micro enterprise, you can approach any  financial institution in India or apply online. If you are looking for a business loan of over Rs. 10 Lakhs, you could look at business or MSME loans, available on Finserv MARKETS, and expand your business, get new equipment or infrastructure. You can get a Business Loan of up to Rs. 30 Lakhs on Finserv MARKETS. The loans are zero collateral ones, and are approved in as little as 3 minutes. The repayment tenures are also flexible, and in range of 12-60 months.

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