Pradhan Mantri Mudra Yojana Eligibility Criteria And Other Full Information
Micro Units Development and Refinance Agency Ltd. [MUDRA] is an NBFC supporting development of the micro-enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs for lending to micro units having loan requirement up to 10 lakh. MUDRA provides refinance to micro-business under the Scheme of Pradhan Mantri MUDRA Yojana.
The other products are for development support to the sector. The bouquet of offerings of MUDRA is depicted below. The offerings are being targeted across the spectrum of beneficiary segments.
Eligibility Criteria:
ELIGIBILITY CRITERIA FOR PARTNER INSTITUTIONS Micro Units Development and Refinance Agency (MUDRA) has adopted the eligibility norms in respect of the various category of Banks for the partner lending institutions for the purpose of availing refinance to micro units in manufacturing, trading and service sector in rural and urban areas.
I. SCHEDULED COMMERCIAL BANKS
A. Public Sector Banks
Should have earned profit during the last 2 years failing which minimum external rating of long term instruments not below A-(minus) from accredited credit rating agencies.
Level of Net NPAs not exceeding 15%.
CRAR as stipulated by RBI from time to time.
Net worth above Rs.250 crore.
B. Private Sector Banks
Should have earned profit during the last 2 years failing which minimum external rating of long term instruments not below A-(minus) from accredited credit rating agencies.
Level of Net NPAs not exceeding 10%.
CRAR as stipulated by RBI from time to time.
Net worth above Rs.250 crore.
C. Regional Rural Banks
Should have earned a net profit for the preceding two years.
Level of Net NPAs equal to or less than 6%.
CRAR as stipulated by RBI from time to time.
Net Owned Fund above Rs.50 crore.
D. Small Finance Banks
Should have been granted a final license by Reserve Bank of India (RBI) for carrying on Small Finance Bank business and have commenced operations of the Small Finance Bank.
SFB/previous entity prior to conversion into SFB (taken together) should have earned profits during the last 2 financial years.
Should have a sizeable outstanding portfolio (> `500 crores) comprising advances to micro/small enterprises in respect of income generation in manufacturing, services, trading or activities allied to agriculture /other activities approved/to be approved under
PMMY loans from time to time
Should have strong fundamentals based on last audited balance sheet.
CRAR as stipulated by RBI from time to time.
Net worth greater than or equal to 100 crores.
Gross NPA less than or equal to 5%.
II. MICROFINANCE INSTITUTIONS
Should be a registered legal entity lending to micro units meeting the loan size criteria of MUDRA (which is presently loan size of Rs.1 lakh or as stipulated by RBI from time to time) for at least 3 years or the promoters /management should have an experience of at least 10 years.
Having a minimum outreach of 3000 existing borrowers.