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
Table of Contents
| 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 |
| 37 | CDOT |
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:
- A well-written business plan by yourself.
- KYC (Know Your Customer) documents for both the applicant and co-applicant.
- Income proof.
- Identity proof.
- Address proof.
- Passport-size photos of both the applicant and co-applicant.
- A duly filled application form for the specific loan category.
- Category proof (if applicable, such as SC, ST, OBC, etc.).
- 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.