Mudra Loan Bank List 2024 : Offering Mudra Loans under PMMY

Mudra Loan Bank List 2024 : Offering Mudra Loans under PMMY | In 2024, a variety of banks and Non-Banking Financial Companies (NBFCs) continue to offer Mudra Loans, providing crucial financial support to small businesses through the Pradhan Mantri Mudra Yojana (PMMY). This initiative aims to promote entrepreneurship and financial inclusion by offering financial assistance to micro-enterprises and small businesses at various stages of their development.

Banks and Institutions Offering Mudra Loans under PMMY in 2024

Private Sector Banks Public Sector Banks
Axis Bank Limited State Bank of India
City Union Bank Limited State Bank of Travancore
Catholic Syrian Bank Limited State Bank of Bikaner & Jaipur
DCB Bank Limited Bank of India
HDFC Bank Limited Bank of Baroda
Federal Bank Limited Canara Bank
ICICI Bank Limited Bank of Maharashtra
IndusInd Bank Limited Corporation Bank
Karnataka Bank Limited
Jammu & Kashmir Bank Limited IDBI Bank Limited
Kotak Mahindra Bank Limited Dena Bank
Karur Vysya Bank Limited Oriental Bank of Commerce
South Indian Bank Indian Bank
Nainital Bank Limited Syndicate Bank
Tamilnad Mercantile Bank Limited Punjab National Bank
Yes Bank Limited Union Bank of India
The Ratnakar Bank Limited Allahabad Bank
IDFC Bank Limited Vijaya Bank
Bhartiya Mahila Bank
Andhra Bank
Central Bank of India
Punjab & Sind Bank
Indian Overseas Bank
State Bank of Mysore
State Bank of Hyderabad
United Bank of India
State Bank of Patiala


Learn More:

Baroda UP Gramin Bank | Bank of baroda Customer Care Number


Co-operative Banks : Offering Mudra Loans 2024

Serial No. Co-operative Banks
1 Kalupur Commercial Co-op Bank
2 Gujarat State Co-op Bank Ltd
3 Rajkot Nagarik Sahhakari Bank
4 Mehsana Urban Co-op Bank
5 TJSB Sahakari Bank Ltd
6 Bassein Catholic Co-op Bank
7 Nutan Nagrik Sahakari Bank Ltd
8 Jalgaon Janata Sahakari Bank Ltd
9 Ahmedabad Mercantile Co-op Bank Ltd
10 Surat People Co-op Bank Ltd
11 Citizen Credit Co-op Bank Ltd
12 Dombivali Nagari Sahakari Bank Ltd
13 AP State Apex Co-op Bank Ltd
14 Tamil Nadu Apex State Co-op Bank Ltd


Regional Rural Banks : Offering Mudra Loans 2024

Serial No. Regional Rural Banks
1 Andhra Pragathi Grameena Bank
2 Deccan Grameena Bank
3 Chaitanya Godavari Grameena Bank
4 Bihar Gramin Bank
5 Saptagiri Grameena Bank
6 Uttar Bihar Gramin Bank
7 Madhya Bihar Gramin Bank
8 Dena Gujarat Gramin Bank
9 Baroda Gujarat Gramin Bank
10 Kaveri Grameena Bank
11 Saurashtra Gramin Bank
12 Karnataka Vikas Grameena Bank
13 Pragathi Krishna Gramin Bank
14 Maharashtra Gramin Bank
15 Kerala Gramin Bank
16 Puduvai Bharathiar Grama Bank
17 Meghalaya Rural Bank
18 Punjab Gramin Bank
19 Malwa Gramin Bank
20 Marudhara Gramin Bank
21 Sutlej Gramin Bank
22 Pandyan Grama Bank
23 Pallavan Grama Bank
24 Baroda Uttar Pradesh Gramin Bank
25 Tripura Gramin Bank
26 Sarva UP Gramin Bank
27 Prathama Gramin Bank
28 Sarva Haryana Gramin Bank
29 Narmada Jhabua Gramin Bank
30 Baroda Rajasthan Kshetriya Gramin Bank


NBFCs Banks : Offering Mudra Loans 2024

Company Name Location
S V Creditline Pvt. Limited New Delhi
Margdarshak Financial Services Limited Uttar Pradesh
Madura Micro Finance Limited Tamil Nadu
ESAF Micro Finance & Investments P. Ltd Kerala
Fusion Micro Finance P. Limited New Delhi
Sonata Finance Pvt. Ltd Uttar Pradesh
Saija Finance Private Ltd Bihar
Arth Micro Finance Pvt. Limited Rajasthan
Shikhar Microfinance Pvt. Limited New Delhi
Navachetana Microfin Services Pvt. Ltd Karnataka
Samasta Microfinance Limited Bangalore
Satin Credit Care Network Ltd New Delhi
Sahyog Microfinance Limited Madhya Pradesh
Arohan Financial Services Private Limited West Bengal
Suryodaya Microfinance Ltd Maharashtra
Ujjivan Financial Services Pvt. Ltd Karnataka
Future Financial Services Limited Karnataka
SKS Microfinance Limited Telangana
Utkarsh Micro Finance P. Ltd Uttar Pradesh
Equitas Micro Finance Limited Tamil Nadu
Grameen Development & Finance P. Limited Assam
Hindustan Microfinance Private Limited Maharashtra
Namra Finance Ltd Gujarat
Muthoot Fincorp Limited Kerala
Sambandh Finserve Pvt Ltd Bhuvaneshwar
RGVN (North East) Microfinance Limited Guwahati Assam
Nightingale Finvest Pvt Ltd. West Bengal
Asirvad Microfinance Private Limited Chennai
Village Financial Services Pvt Limited West Bengal
Janalakshmi Financial Services Pvt Ltd Bangalore
Disha Microfin Private Limited Ahmedabad
SMILE Microfinance Limited Chennai
Light Micro Finance Limited Ahmedabad
Uttarayan Financial Services Pvt Ltd. West Bengal
Unacco Financial Services Private Limited Guwahati Assam
Varam Capital Chennai
YVU Financial Services Private Ltd. Guwahati
IDF Financial Services Pvt Ltd. Bangalore


Offering Mudra Loans : NBFCs 2024

SI NO Company Name Location
1 Belstar Investment & Finance P. Ltd. Tamil Nadu
2 Jagaran Microfin P. Ltd West Bengal
3 MSM Microfinance Limited Chennai
4 M Power Micro Finance Private Ltd. Vadodara, Gujarat
5 Navachetana Microfin Services Pvt. Limited Bangalore
6 Digamber Capfin Ltd Rajasthan
7 Midland Microfin Limited Punjab
8 Vedika Credit Capital Ltd Ranchi
9 Intrepid Finance and leasing Pvt. Limited Mumbai
10 Reliance Capital Limited
11 Fullerton India Credit Co. Limited
12 Shriram Transport Finance Co. Limited
13 Equitas Finance P. Limited
14 Shriram City Union Finance Limited
15 India Infoline Limited
16 SREI Equipment Finance Limited
17 Magma Fincorp Limited
18 Religare Finvest Limited
19 ECL Finance Limited
20 AU Financiers India Limited
21 SE Investments Limited
22 Intec Capital Limited
23 Sakthi Finance Limited
24 Esskay Auto Finance Limited
25 Electronica Finance Limited
26 MAS Financial Services Limited
27 IKF Finance Limited
28 Bansal Credits Limited



Non-Banking Financial Company (NBFC)

SI NO Company Name
1 Five Star Business Credits Limited
2 Indiabulls Financial Services Limited
3 Mahindra & Mahindra Financial Services Ltd
4 Pudhuaaru Financial Services Pvt Limited
5 Nabard Financial Services Ltd
6 Vistaar Financial Services P. Limited
7 Shriram Finance Corporation Pvt Ltd
8 India Infoline Finance Ltd
9 Ananya Finance for Inclusive Growth Pvt. Limited
10 Capital First Limited
11 Maanaveeya Development & Finance Private Ltd
12 Jumbo Finvest (India) Limited


Microfinance Institution

SI Microfinance Institution
1 Margdarshak Financial Services Limited
2 S V Creditline Pvt. Limited
3 ESAF Micro Finance & Investments Pvt. Limited
4 Madura Micro Finance Limited
5 Ujjivan Financial Services Pvt. Limited
6 SKS Microfinance Limited
7 Future Financial Services Limited
8 Equitas Micro Finance Pvt. Limited
9 Utkarsh Micro Finance Pvt. Limited
10 Saija Finance Private Limited
11 Sonata Finance Pvt. Limited
12 Shikhar Microfinance Pvt. Limited
13 Arth Micro Finance Pvt. Limited
14 Samasta Microfinance Limited
15 Navachetana Microfin Services Pvt. Limited
16 Sahyog Microfinance Limited
17 Satin Credit Care Network Limited
18 Suryodaya Microfinance Limited
19 Arohan Financial Services Pvt. Limited
20 Jagaran Microfin Pvt. Ltd.
21 Belstar Investment & Finance Pvt. Ltd.
22 Midland Microfin Limited
23 Digamber Capfin Limited
24 Grameen Development & Finance Pvt. Limited
25 RGVN (North East) Microfinance Limited
26 Hindustan Microfinance Private Limited
27 Grameen Development & Finance Pvt. Ltd.
28 Namra Finance Ltd
29 Hindustan Microfinance Private Ltd.
30 Sambandh Finserve Pvt Ltd
31 Muthoot Fincorp Ltd.
32 Bhartiya Micro Credit
33 IDF Financial Services Pvt Ltd
34 Cashpor Micro Credit
35 Sakhi Samudaya Kosh
36 Mahashakti Foundation


Eligibility Criteria for Banks Offering Mudra Loans:

To qualify for offering Mudra Loans, banks and financial institutions need to meet specific criteria. Here are the key eligibility requirements:

  • NPAs Limit: Banks and financial institutions offering Mudra Loans should ensure that Non-Performing Assets (NPAs) do not exceed 15% for public banks and 10% for private and foreign banks. For rural banks, the limit is set at 3%.
  • Small Finance Banks Criteria: Small finance banks must consider the turnovers and credit ratings from the last two years. Additionally, their NPAs should not exceed 3%.
  • Regional Rural Banks: Regional Rural Banks are required to have a net profit for the last two years.
  • Public and Private Sector Banks: Public and private sector banks should either have a net profit in the past two years or maintain an “A Minus” rating from credit rating agencies.
  • NBFCs Eligibility: Non-Banking Financial Companies (NBFCs) seeking to offer Mudra Loans must have a record of five consecutive years of net profit.
  • Microfinance Institutions: As per SIDBI guidelines, microfinance institutions should have a minimum of three ratings, with the latest being a minimum of MFR3.


Documents Needed for Mudra Loan:

To apply for a Mudra Loan under PMMY, you’ll need to provide the following documents:

  1. A well-written business plan by yourself.
  2. KYC (Know Your Customer) documents for both the applicant and co-applicant.
  3. Income proof.
  4. Identity proof.
  5. Address proof.
  6. Passport-size photos of both the applicant and co-applicant.
  7. A duly filled application form for the specific loan category.
  8. Category proof (if applicable, such as SC, ST, OBC, etc.).
  9. Evidence of business address and tenure.

Remember, you can approach any of the banks or NBFCs listed above for a Mudra Loan. Be sure to review their eligibility criteria beforehand to increase your chances of approval.


FAQs: Mudra Loan Bank List

Q1: Which banks offer Mudra Loans under PMMY?

A1: Several banks and NBFCs (Non-Banking Financial Companies) provide Mudra Loans. Some of them include SBI, ICICI Bank, HDFC Bank, Axis Bank, and many others. Refer to the official PMMY website or check with your local bank for the complete list.

Q2: Can I get a Mudra Loan from any bank or NBFC?

A2: Yes, you can avail of a Mudra Loan from any bank or NBFC that is a part of the approved list. Ensure you meet their eligibility criteria before applying.

Q3: What documents do I need to apply for a Mudra Loan?

A3: To apply for a Mudra Loan, you generally need:

  • Well-written business plan
  • KYC documents for applicant and co-applicant
  • Income proof
  • Identity proof
  • Address proof
  • Passport-size photos of applicant and co-applicant
  • Duly filled application form for the specific category
  • Category proof (if applicable, e.g., SC, ST, OBC)
  • Business address and tenure evidence

Q4: How can I find out if my bank provides Mudra Loans?

A4: You can visit the official PMMY website, check with your local bank branch, or contact their customer service to confirm whether they offer Mudra Loans.

Q5: What should I do if my Mudra Loan application is rejected?

A5: If your application is rejected, review the eligibility criteria of the bank or NBFC. Ensure that you meet all the requirements and consider reapplying or exploring other institutions on the approved list.

Q6: Is there a specific category for Mudra Loans?

A6: Yes, Mudra Loans are categorized based on the stage and nature of the business. There are three categories: Shishu, Kishor, and Tarun, each catering to different loan amounts and business sizes.

Q7: How long does it take to get approval for a Mudra Loan?

A7: The approval timeline can vary between banks and NBFCs. It’s advisable to check with the respective institution for specific information on the processing time.

Disclaimer: This information is intended for general knowledge purposes only and is not a substitute for financial advice. Prior to making decisions about loans, it is recommended to consult with your financial advisor. While efforts have been made to maintain accuracy and currency in the provided information, we do not assume responsibility for any errors or omissions. Loan terms and details may be contingent on factors specific to your chosen financial institution.

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