Pradhan Mantri Mudra Yojana (PMMY), launched by the government in 2016, has changed the lives of women and backward classes over the past decade. Under this scheme, more than 52 crore bank accounts have been opened so far. Banks have provided loans worth ₹27.5 lakh crore through these accounts.
According to an SBI report released on Wednesday, Mudra loans are given to micro, small, and medium enterprises (MSMEs), excluding agriculture and related activities. In the financial year 2014, a total of ₹8.5 lakh crore in loans was given to this sector. This amount tripled and crossed ₹27.5 lakh crore by 2023–24. It is expected to cross ₹30 lakh crore in 2024–25.
52 Crore Mudra Accounts Opened So Far
According to the report, 52 crore Mudra accounts have been opened to date. Out of these, 40 crore accounts (78%) are under the Shishu category, 10 crore (20%) under Kishor, and 2 crore (2%) under Tarun.
Shift from Shishu to Kishor Category
The share of Shishu accounts has decreased from 93% in 2015–16 to 51.7% in 2024–25. On the other hand, the Kishor category has grown from 5.9% to 44.7%, showing that many who started with Shishu loans have now progressed to Kishor.
Average Loan Size Increased to ₹1.02 Lakh
The average loan size was ₹38,000 in 2015–16. It has now increased to ₹1.02 lakh. Out of 51 crore accounts, half belong to the general category. Women entrepreneurs hold 68% of all accounts, while 11% belong to minorities.
Women Benefited Most Under the Scheme
In the last 9 years, the average loan amount received by women has grown at a compound rate of 13% per year to reach ₹62,679. The average amount deposited in accounts has also increased by 14% per year to ₹95,269.
Strong Support for Women at the Grassroots
The report shows that the Mudra scheme has helped women at the grassroots level. For example, the share of women entrepreneurs on the Udyam portal, launched in 2020, has increased to 20.5% of all registered MSMEs.
OBC, SC, and ST Account Share
Out of the total accounts:
- 28% belong to OBCs (Other Backward Classes)
- 16% to SCs (Scheduled Castes)
- 6% to STs (Scheduled Tribes)
States with Highest Number of Women Beneficiaries
- Bihar: 4.2 crore women accounts
- Tamil Nadu: 4 crore
- West Bengal: 3.7 crore
- Karnataka: 3.4 crore
- Maharashtra: 3.3 crore
- Uttar Pradesh: 3 crore
How to Apply for PM Mudra Yojana Loan Online:
- Visit Bank Website: Go to the official website of a Mudra-partner bank (e.g., SBI, PNB, BoB).
- Select Loan Type: Choose from Shishu (up to ₹50K), Kishor (₹50K–₹5L), or Tarun (₹5L–₹10L).
- Fill Application: Download or fill the Mudra loan form online.
- Upload Documents: Submit Aadhaar, PAN, address proof, business proof, and quotations.
- Submit & Track: Submit the form and track your application on the bank’s portal.
Note: Apply only through bank websites. There’s no central Mudra loan portal.