Who can apply for mudra loan

Any Indian citizen who has a business plan for a non-farm income-generating activity can apply for a MUDRA loan. This includes micro and small enterprises engaged in manufacturing, trading, or service sectors. Eligible applicants include:

• Individuals and Proprietary Concerns
• Partnership Firms
• Private and Public Limited Companies

The applicant must not be a defaulter to any bank or financial institution and should have a satisfactory credit track record. The loan supports various small businesses, such as shopkeepers, artisans, and small-scale manufacturing units.