ASPIRE Scheme

The ASPIRE Scheme is an acronym for A Scheme for Promotion and Innovation, Rural Industries & Entrepreneurship. This initiative introduced by the Ministry of MSME aims to promote entrepreneurship through technology.

It sets up incubation and technology centres in rural industries, esp.....

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Atal Innovation Mission

The prime objective of Atal Innovation Mission (AIM) is to empower budding Indian entrepreneurs with the resources they will need to become successful business owners. Set up by NITI Aayog, it promotes Small Business Innovation Research and Development (SBIR) at a national scale to aid startups, .....

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CGTMSE Scheme

The Government of India established the Credit Guarantee Funds Trust for Micro and Small Enterprises (CGTMSE) under the Ministry of Micro, Small and Medium Enterprises (MoMSME) and the Small Industries Development Bank of India (SIDBI). CGTMSE was founded in 2000 to give credit guarantees to fina.....

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Credit Linked Capital Subsidy Scheme (CLCSS)

The Credit Linked Capital Subsidy Scheme is a government initiative to provide financial assistance to Small and Medium Enterprises (SMEs). The subsidy helps these entities invest in technology and machinery and empower them to enhance productivity.

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A credit-linked subsidy program, Coir Udyami Yojana or CUY is a scheme that has been developed by the government to help entrepreneurs set up a coir manufacturing unit. It serves as a combination of a loan and subsidy. The subsidy enables beneficiaries to avail a maximum of ₹ 10 Lakhs as a way to.....

  • The Coir Udyami Yojana is launched by the Central Government of India

  • The scheme is aimed to help develop small and micro-level coir industries across the country

  • The maximum limit on the cost available under Coir Udyami Yojana is up to ₹ 10 Lakhs

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Deen Dayal Upadhyaya Grameen Kaushalya Yojana

An initiative by the Ministry of Rural Development, Deen Dayal Upadhyaya Grameen Kaushalya Yojana, or DDU-GKY is an initiative to train and skill the country’s youth in the rural areas. The scheme is a part of NRLM (National Rural Livelihood Mission) and is estimated to help and enable 55 million.....

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With a view to promoting entrepreneurial development, the Central Government launched the District Industries Centre (DIC) programme in 1978. A DIC acts as a focal point providing support to the micro, small, medium, cottage industries at the district level.  

District Industries Centres The main objectives of DICs include the following:

  • Facilitate entrepreneurial capacity building for small and rural industries at the district level

  • Identify new entrepreneurs and provide assistance for their startup’s growth

    <.....

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The Union Ministry of Commerce and Industry launched the Startup India initiative in early 2016. This scheme has been providing financial support and incentives to startups, which have resulted in India becoming the third-largest startup ecosystem in the world.

 

A major cont.....

Here are some of the common criteria to apply for government-aided startup business loans:

  • The company should not have completed 10 years from the date of its incorporation

  • The company must be a private limited company, partnership firm, or limited liability p.....

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Women entrepreneurs today have successfully tapped into lesser-explored sectors from food, beauty, travel, sanitation, IT, automobile and even innovation. As per the World Bank reports, the GDP of India could grow by 1.5% points, if 50% of the women are a part of the workforce.

The govern.....

Below we have provided a list of government schemes for women entrepreneurs:

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The Government of India has initiated a number of lending schemes to promote businesses that drive the growth of the nation’s economy. These schemes seek to promote entrepreneurship development in the country.

 

Here are some of the government loan schemes for businesses in I.....

The Central Government has launched a public limited company, ‘Online PSB Loans Ltd.’ The Small Industries Development Bank of India (SIDBI) and other public sector banks hold the majority shares of the company and offer loan approvals in 59 minutes.

 

Here are some of the fe.....

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PM KUSUM Yojana is a scheme launched by the Indian government to help farmers install solar irrigation pumps in their farms. Under this scheme, farmers can get a 60% subsidy (30% from Central Financial Assistance (CFA) and 30% from the State Government)) and a 30% as loan from a bank. 

.....

When applying online, here are the documents you must submit to the portal

  • ID proof such as an Aadhaar card, driving license, and voter ID card

  • Bank account passbook

  • Land documents 

  • Khasra Khatauni number.....

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Pradhan Mantri Bhartiya Jan Aushadhi Kendra (PMBJK)

The Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana (PMBJP) was introduced on April 23, 2008, by the Pharma Advisory Forum. The primary goal of the Jan Aushadhi campaign is to make quality generic medications available to the general public at affordable prices through its designated retail medic.....

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KUSUM Solar Pump Yojana

The PM KUSUM Solar Yojana is a scheme for farmers where the central government provides KUSUM solar pump sets to them on a subsidised basis. KUSUM Solar 2021's main goal is to provide sophisticated technologies for farmers to generate electricity. 

 

These solar pumps ha.....

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Khadi and Village Industries Commission (KVIC)

The Khadi and Village Industries Commission (KVIC) is a statutory body formed by the Government of India under the Ministry of Micro, Small and Medium Enterprises. Set up in April 1957, this organisation is governed by Khadi & Village Industries Commission Act. The Government’s purpose behind.....

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Mahila Samriddhi Yojana (MSY)

On October 2, 1993, the Ministry of Social Justice and Empowerment Department of the Government of India launched the Mahila Samridhi Yojana (MSY) initiative. This is a micro-financing programme aiming towards the empowerment of women from underprivileged backgrounds or economically backward area.....

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Mahila Udyam Nidhi Scheme

Pioneered by the Indian Government, specifically under the Small Industrial Development Bank of India (SIDBI). The Mahila Udyam Nidhi Scheme aims to both uplift and empower more women entrepreneurs to enter the field of business. First offered by Punjab National Bank (under SIDBI’s guidance), the.....

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NABARD stands for National Bank for Agriculture and Rural Development. This bank was established in 1982 to foster rural prosperity. NABARD has been authorised to provide credit and other financial facilities to promote and develop agriculture, cottage industries, small-scale industries, village .....

NABARD Scheme: Interest Rate on Refinance to Banks (per annum)

Here’s the list of rates of interest charged by NABARD on refinancing to banks and other NBFCs under different schemes:

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PM KUSUM Scheme

The Ministry of New and Renewable Energy (MNRE) launched the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme in 2019 to enhance the solar capacity of Indian farmers and encourage renewable energy. This is being done by installing solar pumps and other renewable energy.....

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PM Street Vendor's AtmaNirbhar Nidhi, or the PM SVANidhi Yojana, is a micro-credit facility for street vendors. This scheme provides affordable working capital loans of up to ₹10,000 for a tenure of 1 year to street vendors. 

 

The Ministry of Housing and Urban Affairs l.....

Here are some important details of the PM SVANidhi Yojana:

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PMEGP stands for the Prime Minister’s Employment Generation Programme, which is a credit-linked subsidy programme offered by the Government of India. It was first launched in 2008. The PMEGP came about to merge two previous similar government schemes that shared similar goals and benefits - the <.....

Below are  the key objectives of the PMEGP loan:

  • Generating employment opportunities in India's rural and urban areas by setting up various new projects, micro-enterprises, and ventures.

  • Providing a common structure and source of self-employment opportuni.....

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PMKVY – Pradhan Mantri Kaushal Vikas Yojana

The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a skill certification scheme introduced by the Ministry of Skill Development and Entrepreneurship (MSDE). This was implemented by the National Skill Development Corporation (NSDC). 

The primary objective of this scheme is to boost th.....

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Pradhan Mantri Rozgar Yojana

Launched in 1993, Pradhan Mantri Rozgar Yojana (PMRY) encourages self-employment among the educated but unemployed youth. The scheme offers financial aid to individuals wanting to start a business in service, manufacturing, or trading sectors.

 

In addition to the financial s.....

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If you are the owner of a Micro, Small or a Medium Enterprise (MSME) and are seeking a loan, there is a government-run scheme that will help you avail the same within an hour. This initiative is known as PSB loans in 59 minutes. It is essentially an online loan marketplace that can he.....

The defining features and benefits of the PSB Loans in 59 minutes portal are:

  • Quick loan approval: As the name of the portal suggests itself, you can get a quick loan approval within an hour. This is made possible by the various algorithms that the portal deploys to .....

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The Rural Employment Generation Programme or REGP is an ambitious scheme launched by the Central Government of India with an aim to alleviate the unemployment issues in the villages and small towns. Through a number of schemes and programmes, the government offers employment opportunities for a c.....

Through the launch of this REGP scheme, the Central Government of India envisions meeting the following objectives:

  • Sustainable Employment Solution: The government focuses on creating and expanding sustainable job opportunities in rural areas. Through this, it aims to ens.....

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The Strategy of Fund for Renewal of Traditional Industries (SFURTI), was launched in 2005 to foster clustered economic growth in the nation. The Khadi and Village Businesses Council (KVIC) acts as the focal point for the advancement of Khadi Clusters. As an alternative, Coir Board serves as the h.....

  • You can receive a sum of up to ₹8 Crores in funding under the SFURTI program. 

  • Historical Clusters may also qualify for the SFURTI scheme for receiving a sum of up to ₹8 Crores if they employ between 1,000 and 2,500 craftspeople.

  • Clusters with .....

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Stand Up India Scheme

The Stand-Up India scheme is an initiative of the Indian government to provide bank loans ranging from ₹10 Lakhs to ₹1 Crore to a minimum of one SC/ST (scheduled caste/scheduled tribe) and a woman borrower in each branch of the bank.

 

Banks sanction the loan amount to help s.....

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Startup India Scheme

Launched on January 16, 2016, aims to establish a robust and inclusive ecosystem for entrepreneurship in India, nurturing startups and innovation. 

This initiative aims to empower startups to expand and disrupt through the power of technology and design. Not only does the Startup Ind.....

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Unemployed Youth Employment Generation Programme (UYEGP)

The Unemployed Youth Employment Generation Programme (UYEGP) is a flagship scheme introduced by the Micro, Small and Medium Enterprises Department of the Government of Tamil Nadu.

Through UYEGP, the TN government aims to wipe out the menace of unemployment in the young population of the e.....

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Startup India Seed Fund Scheme

The Department of Promotion of Industry and Internal Trade (DPIIT) has launched an initiative called the Startup India Seed Fund Scheme (SISFS). This project offers financial support to emerging startups and assists them in the early stages of business.

This scheme provides assistance to .....

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Every single Indian permanent resident that has set up business operations in India can apply for a Mudra Loan, provided they meet the laid out eligibility criteria by the powers that be. That also includes the portion of the society of Indian entrepreneurs that have entered the business of heali.....

Some of the parameters based on which the institutions have constructed the eligibility criteria are the likes of citizenship status, the number of years the doctor in question has been running the practice actively, the kind of income it generates on an annual basis, and the sub-section of the m.....

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Minimum age

18 years

Maximum age

65 years

Who all can avail loan?

Loans can be availed by new and existing MSME units

.....

All public, private, and regional rural banks are eligible to provide Mudra Loan. Given below are the lending institutions that offer Mudra loans:

  • Non-Banking Financial Companies (NBFC)

  • Public and Private Sector Banks

  • Micro Finance Instituti.....

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Mudra Loan Vs Business Loan

Here is the table that will help you to understand the key differences between MUDRA Loan vs Business Loan.

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How to Apply for Mudra Loan Through Aadhaar Card

With the self-attested photocopies of the aforementioned documents, you can proceed with the Aadhaar card Mudra loan application process. Here are the steps that must be followed for the offline Mudra loan application with Aadhaar card.

  1. Find the nearest bank/financial institu.....

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How to Apply for Mudra Loan Online/Offline?

If you face any problem at the time of availing a Mudra loan online, you can go with the offline method. Mentioned below are the steps by which you can apply for a Mudra Loan offline:

  • Step 1: Visit a PMMY-authorised financial institution or NBFC.

  • <.....

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Pradhan Mantri Mudra Yojana for women scheme provides targeted assistance to women engaged in non-corporate, non-farming, small and micro enterprises. Under this scheme, women entrepreneurs can get a loan of up to ₹10 Lakhs from Commercial Banks, NBFCs, Small Finance Banks, RRBs, and MFIs.

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Women indulged in the following sectors or activities enjoy a special preference from banks under the Mudra scheme:

  • Women weavers and ancillary workers involved in weaving activities

  • Women involved in textile industries

  • Women belonging to Sc.....

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Benefits for Industries Under Mudra Yojana

The MUDRA scheme is being hailed as the most beneficial scheme for MSMEs. Here are the benefits for industries under MUDRA Yojana for you to check out.

 

  • It provides microfinance funding to the country's micro-enterprise sector.

  • Promotes financial.....

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List of Mudra Loan Documents

The documents required for Mudra loans vary depending on the lender you choose. However, here are some basic documents you need to submit when applying for a Mudra loan:

 

Proof of Identity

You need to provide any of these proof of identity documents:

    <.....

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MUDRA loans that can be availed online are known as e-MUDRA Loans. Many commercial and public sector banks, small finance banks, NBFCs, and MFIs accept applications for e-MUDRA loans. Additionally, online applications are also available via the Udyami Mitra Portal. The lending programme was estab.....

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Businesses That Can Avail Mudra Loan Under PMMY

Here is the list of businesses that can acquire this loan.

  • Any startup firm

  • Machine operators

  • Artisans

  • Truck operators

  • Traders and shopkeepers

  • Small vendors selling fruits and ve.....

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The interest rate on a Mudra loan starts at 8% per annum. There is a reduction of 25 basis points on interest rates to Micro Finance Institutions (MFIs) and NBFCs providing loans to women entrepreneurs. In the case of the working capital loan, banks charge interest rates only on the amount held o.....

The following table provides details about the interest rates and tenures offered by different lending institutions:

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UCO Bank Mudra Loan

MUDRA Yojana is a government-issued refinancing scheme in which financial institutions act as intermediaries, distributing credit to small-scale business owners. To get the credit without much hassle and at an attractive interest rate, you can contact any branch of United Commercial Bank Ltd. or,.....

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A record 5.83 crore loans worth Rs 3.23 lakh crore were disbursed by Micro Units Development and Refinance agency or MUDRA, a public financial institution. MUDRA was formed under the aegis of  Pradhan Mantri Mudra Yojana (PMMY) in 2015 to provide credit support to small businesses in the non.....

In order to get a MUDRA loan, the borrower needs to submit a project report to the public sector undertaking from whom the loan is requested. Important information related to your business such as company background, nature of activities, procurement of raw materials, number of employees, profit,.....

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Central Bank of India Mudra Loan

If you are running a non-corporate micro or small business, you can apply for MUDRA loan through the Central Bank of India. Central Bank of India MUDRA Loan extends a credit for up to Rs. 10 Lakhs at a flexible tenure between 3 and 5 years.

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Tarun Loan

Under the PMMY scheme, banks, NBFCs, and MFIs provide collateral-free financial assistance to MSMEs through three products, including Shishu, Kishore, and Tarun.

 

Among them, Tarun loans provide maximum amounts as term or working capital loans. Read on to learn more about it.....

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Bank of Maharashtra Mudra Loan

With the Bank of Maharashtra MUDRA Loan, you can meet your credit shortage for up to Rs. 10 Lakhs at a much lower interest rate and zero to negligible processing fees. To ensure a hassle-free application process and quick approval of your credit, you can approach the Bank of Maharashtra. It enabl.....

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You can avail a Mudra Kishore loan as a part of the Pradhan Mantri Mudra Yojana (PMMY) scheme. This particular initiative was launched by the Government of India to give Micro, Small and Medium Enterprise owners like you the capital infusion you need. As a Mudra Kishore loan, you can avail anywhe.....

Some of the features of the Mudra Kishore loan are:

  • With a Mudra Kishore loan, you can get funding of anywhere between ₹50,000 to ₹5 Lakhs.

  • You can get a Mudra Kishore loan to meet your working capital requirement, consolidate high interest business .....

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Kotak Mahindra Bank Mudra Loan

Kotak Mahindra Bank is a trusted loan provider in India, its loan portfolio include personal loans, education loans, business loans, etc. One such popular loan is the Kotak Mahindra Bank Mudra loan. This loan is provided under the Pradhan Mantri Mudra Yojana (PMMY) to promote the growth.....

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Eligible entities can apply for Mudra loans from these financial institutions:

  • Public Sector Banks

  • Private Sector Banks

  • Regional Rural Banks (RRBs)

  • Co-operative Banks

  • Non-banking Financial Companies (NBF.....

    Here is the list of public sector banks offering Mudra loans under the Pradhan Mantri Mudra Yojana:

    • State Bank of India

    • State Bank of Bikaner and Jaipur

    • Bank of Baroda

    • Bank of India

    • Bank of Maharashtra

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Bank of Baroda Mudra loan is available to micro and small businesses that generate income through engagement in manufacturing, trading and services. Under this scheme, you can obtain a loan amount of up to Rs. 10 Lakhs without providing any collateral. Furthermore, Bank of Baroda offers a fully d.....

Indeed, the Mudra loan scheme by the government is an attractive credit option for small and medium business operators. Find the key highlights of Bank of Baroda Mudra loan below:

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The Mudra loan online application form is now available on the portals of most banks that are officially authorised to offer the MUDRA loan.

Download Mudra Loan Application Form in PDF

If you're interested in applying for a Mudra Loan, follow these steps. 

  • Visit the official Mudra website and search for “PMMY KIT”

  • Click on the first result that appears, which is “PMMY KIT”

  • .....

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In 2022, 107 Indian startups achieved the status of Unicorn Start-Ups. Over the past few years, with the phenomenal growth in startups, the Government of India has introduced a few important initiatives to make it easier to conduct business. One such very popular scheme is the MUDRA loan for star.....

The loan scheme was launched to assist micro and small enterprises financially. The features of the Mudra scheme for startups are:

  • You must be between 18 to 65 years of age to avail of a loan for your startup

  • This is an easy loan for traders, shopkeepers, vend.....

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HDFC Bank Mudra loan offers financing to eligible business enterprises with minimal documentation and quick approval.

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When we talk about India’s industrial growth, the contribution of small and medium enterprises has been phenomenal. While contributing to almost 40% of the country’s GDP, the MSME sector is instrumental in creating multifarious sources of income and employment. But when it comes to financial stan.....

Applying for the loan scheme has been purposely simplified so that aspiring applicants can easily receive the loan benefits.

  • Step 1: Identify the loan category (Shishu, Kishore, Tarun) that you fall into:

  • Step 2: Visit http.....

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ICICI Bank Mudra Loan

ICICI Bank is an Indian banking and financial services company that offers a number of banking products and financial services. One such loan product is the ICICI Bank Mudra loan. These loans are offered under the Pradhan Mantri Mudra Yojana (PMMY). The primary objective of these loans is to prov.....

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Mudra Shishu Loan

You can easily apply for a Mudra Shishu Loan for your business online by following the below-mentioned steps:

  • Step 1: Visit the Udyami Mitra website at https://udyamimitra.in/ and click on “Apply Now”.

  • Step 2: Enter name, email address and mobile.....

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PNB offers a number of business loans that have been an integral part of India’s growth. One such loan scheme offered by PNB is the PNB Mudra scheme. The PNB Mudra scheme is a business loan offered by small and medium enterprises (SMEs) under the Pradhan Mantri Mudra Yojana (PMMY).

Here are the key highlights of the PNB Mudra loan. 

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Axis Bank Mudra Loan

Axis Bank Limited, formerly known as UTI Bank, is an Indian banking and financial services company. The bank sells financial services to large and mid-size companies, SMEs and retail businesses. Its portfolio of SME loans include the Axis Mudra loans. One such SME focused loan is the Mudra loan u.....

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Canara Bank Mudra Loan

Under the Pradhan Mantri Mudra Yojana (PMMY), Canara Bank offers the Canara Bank Mudra and Canara Bank e-Mudra schemes. These schemes are aimed at boosting the growth of small and medium enterprises, startups and micro entrepreneurs.

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SBI offers a number of different types of loans. Its loan portfolio includes both personal and business loans. These loans have been instrumental in helping both small and large businesses across the country flourish.

 

SBI also offers a wide range of SME (Small Medium Enterp.....

Here are some of the key highlights of the SBI Mudra loan. 

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Mudra Loan

The Mudra loan refers to loans provided by banks and financial institutions to micro and small enterprises (MSEs) in India under the Pradhan Mantri Mudra Yojana (PMMY) scheme. The PMMY scheme was launched in 2015 by the Government of India with the aim of providing financial support and promoting.....

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