List of Banks Offering Mudra Loans under PMMY in 2023 

The Government of India launched the Pradhan Mantri Mudra Yojana under the leadership of Prime Minister Narendra Modi in 2015. This pan India policy was initiated with an aim to aid the huge numbers of small and micro enterprises (SMEs) in the country financially. This scheme focuses mainly on manufacturing, processing, trading, and services industries that provide employment to over 10 crore people all over the country.

You can avail this loan through public and private sector banks, NBFCs, small finance banks, and regional rural banks. An MSME or SME needs to apply through these banks for Mudra Loan. You will find the list of banks and other details of Mudra Loan in the following sections. 

List of Banks Offering Mudra Loan under PMMY in 2023 

There are over190 banks and other institutions offering Mudra Loans under PMMY. Let’s find out.

• Private Sector Banks 

1. Axis Bank Limited
2. City Union Bank Limited
3. Catholic Syrian Bank Limited
4. DCB Bank Limited
5. HDFC Bank Limited
6. Federal Bank Limited
7. ICICI Bank Limited
8. IndusInd Bank Limited
9. Karnataka Bank Limited
10. Jammu & Kashmir Bank Limited
11. Kotak Mahindra Bank Limited
12. Karur Vysya Bank Limited
13. South Indian Bank
14. Nainital Bank Limited
15. Tamilnad Mercantile Bank Limited
16. Yes Bank Limited
17. The Ratnakar Bank Limited
18. IDFC Bank Limited

• Public Sector Banks 

19. State Bank of India
20. State Bank of Travancore
21. State Bank of Bikaner & Jaipur
22. Bank of India
23. Bank of Baroda
24. Canara Bank
25. Bank of Maharashtra
26. Corporation Bank
27. Canara Bank
28. IDBI Bank Limited
29. Dena Bank
30. Oriental Bank of Commerce
31. Indian Bank
32. Syndicate Bank
33. Punjab National Bank
34. Union Bank of India
35. Allahabad Bank
36. Vijaya Bank
37. Bhartiya Mahila Bank
38. Andhra Bank
39. Central Bank of India
40. Punjab & Sind Bank
41. Indian Overseas Bank
42. State Bank of Mysore
43. State Bank of Hyderabad
44. United Bank of India
45. State Bank of Patiala

• Co-operative Banks 

46. Kalupur Commercial Co-op Bank
47. Gujarat State Co-op Bank Ltd
48. Rajkot Nagarik Sahhakari Bank
49. Mehsana Urban Co-op Bank
50. TJSB Sahakari Bank Ltd
51. Bassein Catholic Co-op Bank
52. Nutan Nagrik Sahakari Bank Ltd
53. Jalgaon Janata Sahakari Bank Ltd
54. Ahmedabad Mercantile Co-op Bank ltd
55. Surat People Co-op Bank ltd
56. Citizen Credit Co-op Bank Ltd
57. Dombivali Nagari Sahakari Bank Ltd
58. AP State Apex Co-op Bank Ltd
59. Tamil Nadu Apex State Co-op Bank Ltd

• Regional Rural Banks 

60. Andhra Pragathi Grameena Bank
61. Deccan Grameena Bank
62. Chaitanya Godavari Grameena Bank
63. Bihar Gramin Bank
64. Saptagiri Grameena Bank
65. Uttar Bihar Gramin Bank
66. Madhya Bihar Gramin Bank
67. Dena Gujarat Gramin Bank
68. Baroda Gujarat Gramin Bank
69. Kaveri Grameena Bank
70. Saurashtra Gramin Bank
71. Karnataka Vikas Grameena Bank
72. Pragathi Krishna Gramin Bank
73. Maharashtra Gramin Bank
74. Kerala Gramin Bank
75. Puduvai Bharathiar Grama Bank
76. Meghalaya Rural Bank
77. Punjab Gramin Bank
78. Malwa Gramin Bank
79. Marudhara Gramin Bank
80. Sutlej Gramin Bank
81. Pandyan Grama Bank
82. Pallavan Grama Bank
83. Baroda Uttar Pradesh Gramin Bank
84. Tripura Gramin Bank
85. Sarva UP Gramin Bank
86. Prathama Gramin Bank
87. Sarva Haryana Gramin Bank
88. Narmada Jhabua Gramin Bank
89. Baroda Rajasthan Kshetriya Gramin Bank

• NBFCs 

90. S V Creditline Pvt. Limited, New Delhi
91. Margdarshak Financial Services Limited, Uttar Pradesh
92. Madura Micro Finance Limited, Tamil Nadu
93. ESAF Micro Finance & Investments P. Ltd, Kerala
94. Fusion Micro Finance P. Limited, New Delhi
95. Sonata Finance Pvt. Ltd, Uttar Pradesh
96. Saija Finance Private Ltd, Bihar
97. Arth Micro Finance Pvt. Limited, Rajasthan
98. Shikhar Microfinance Pvt. Limited, New Delhi
99. Navachetana Microfin Services Pvt. Ltd, Karnataka
100. Samasta Microfinance Limited, Bangalore
101. Satin Credit Care Network Ltd, New Delhi
102. Sahyog Microfinance Limited, Madhya Pradesh
103. Arohan Financial Services Private Limited, West Bengal
104. Suryodaya Microfinance Ltd, Maharashtra
105. Ujjivan Financial Services Pvt. Ltd Karnataka
106. Future Financial Services Limited Karnataka
107. SKS Microfinance Limited Telangana
108. Utkarsh Micro Finance P. Ltd, Uttar Pradesh
109. Equitas Micro Finance Limited Tamil Nadu
110. Grameen Development & Finance P. Limited Assam
111. Hindustan Microfinance Private Limited, Maharashtra
112. Namra Finance Ltd, Gujarat
113. Muthoot Fincorp Limited, Kerala
114. Sambandh Finserve Pvt Ltd, Bhuvaneshwar
115. RGVN (North East) Microfinance Limited, Guwahati Assam
116. Nightingale Finvest Pvt Ltd. West Bengal
117. Asirvad Microfinance Private Limited Chennai
118. Village Financial Services Pvt Limited, West Bengal
119. Janalakshmi Financial Services Pvt Ltd Bangalore
120. Disha Microfin Private Limited Ahmedabad
121. SMILE Microfinance Limited Chennai
122. Light Micro Finance Limited Ahmedabad
123. Uttarayan Financial Services Pvt Ltd. West Bengal
124. Unacco Financial Services Private Limited Guwahati Assam
125. Varam Capital, Chennai
126. YVU Financial Services Private Ltd. Guwahati
127. IDF Financial Services Pvt Ltd. Bangalore
128. Belstar Investment & Finance P. Ltd. Tamil Nadu
129. Jagaran Microfin P. Ltd, West Bengal
130. MSM Microfinance Limited, Chennai
131. M Power Micro Finance Private Ltd. Vadodara Gujarat
132. Navachetana Microfin Services Pvt. Limited Bangalore
133. Digamber Capfin Ltd, Rajasthan
134. Midland Microfin Limited Punjab
135. Vedika Credit Capital Ltd, Ranchi
136. Intrepid Finance and leasing Pvt. Limited, Mumbai
137. Reliance Capital Limited
138. Fullerton India Credit Co. Limited
139. Shriram Transport Finance Co. Limited
140. Shriram City Union Finance Limited
141. Equitas Finance P. Limited
142. India Infoline Limited
143. SREI Equipment Finance Limited
144. Magma Fincorp Limited
145. Religare Finvest Limited
146. ECL Finance Limited
147. AU Financiers India Limited
148. SE Investments Limited
149. Intec Capital Limited
150. Sakthi Finance Limited
151. Esskay Auto Finance Limited
152. Electronica Finance Limited
153. MAS Financial Services Limited
154. IKF Finance Limited
155. Bansal Credits Limited
156. Five Star Business Credits Limited
157. Indiabulls Financial Services Limited
158. Mahindra & Mahindra Financial Services Ltd
159. Pudhuaaru Financial Services Pvt Limited 
160. Nabard Financial Services Ltd 
161. Vistaar Financial Services P. Limited
162. Shriram Finance Corporation Pvt Ltd 
163. India Infoline Finance Ltd
164. Ananya Finance for Inclusive Growth Pvt. Limited
165. Capital First Limited
166. Maanaveeya Development & Finance Private Ltd
167. Jumbo Finvest (India) Limited 

• MFIs 

168. Margdarshak Financial Services Limited
169. S V Creditline Pvt. Limited
170. ESAF Micro Finance & Investments Pvt. Limited
171. Madura Micro Finance Limited
172. Ujjivan Financial Services Pvt. Limited
173. SKS Microfinance Limited
174. Future Financial Services Limited
175. Equitas Micro Finance Pvt. Limited
176. Utkarsh Micro Finance Pvt. Limited
177. Saija Finance Private Limited
178. Sonata Finance Pvt. Limited
179. Shikhar Microfinance Pvt. Limited
180. Arth Micro Finance Pvt. Limited
181. Samasta Microfinance Limited
182. Navachetana Microfin Services Pvt. Limited
183. Sahyog Microfinance Limited
184. Satin Credit Care Network Limited
185. Suryodaya Microfinance Limited
186. Arohan Financial Services Pvt. Limited
187. Jagaran Microfin Pvt. Ltd.
188. Belstar Investment & Finance Pvt. Ltd.
189. Midland Microfin Limited
190. Digamber Capfin Limited
191. Grameen Development & Finance Pvt. Limited
192. RGVN (North East) Microfinance Limited
193. Hindustan Microfinance Private Limited
194. Grameen Development & Finance Pvt. Ltd.
195. Namra Finance Ltd
196. Hindustan Microfinance Private Ltd.
197. Sambandh Finserve Pvt Ltd
198. Muthoot Fincorp Ltd.
199. Bhartiya Micro Credit
200. IDF Financial Services Pvt Ltd
201. Cashpor Micro Credit
202. Sakhi Samudaya Kosh
203. Mahashakti Foundation
204. CDOT

What is the Eligibility Criteria for Banks to Offer Mudra Loan? 

There are some parameters that banks and financial institutions need to fulfil to be eligible for offering Mudra Loan. Here are some of the criteria: 

• NPAs should not exceed 15% and 10% for public and private & foreign banks, respectively. For rural banks, this limit is set at 3%. 
• For small finance banks, the last two year’s turnovers and credit ratings will be considered. Also, their NPAs should be 3% or lower than that. 
• Regional Rural Banks should have a net profit for the last two years. 
• Public and private sector banks should either have made a net profit in the past two years or have an “A Minus” rating from credit rating agencies. 
• NBFCs should have a record of five consecutive years’ net profit. 
• As per SIDBI guidelines, microfinance institutions should have a minimum of 3 ratings and the latest of a minimum of MFR3. 

What Are the Documents Required for Mudra Loan? 

You need to submit the following documents to apply for a Mudra Loan under PMMY: 

• Well-written Business Plan by self
• KYC documents of 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 (SC, ST, OBC, etc.)
• Business address and tenure evidence 

You can avail of Mudra loan from any of the banks and NBFCs mentioned in the list above. You should check out their eligibility criteria before applying to avoid rejection. 

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