List of Banks Offering Mudra Loans under PMMY in 2023 

7 min read • Published 8 January 2023
Written by Nishant Prasad

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 
  1. State Bank of India
  2. State Bank of Travancore
  3. State Bank of Bikaner & Jaipur
  4. Bank of India
  5. Bank of Baroda
  6. Canara Bank
  7. Bank of Maharashtra
  8. Corporation Bank
  9. Canara Bank
  10. IDBI Bank Limited
  11. Dena Bank
  12. Oriental Bank of Commerce
  13. Indian Bank
  14. Syndicate Bank
  15. Punjab National Bank
  16. Union Bank of India
  17. Allahabad Bank
  18. Vijaya Bank
  19. Bhartiya Mahila Bank
  20. Andhra Bank
  21. Central Bank of India
  22. Punjab & Sind Bank
  23. Indian Overseas Bank
  24. State Bank of Mysore
  25. State Bank of Hyderabad
  26. United Bank of India
  27. State Bank of Patiala
  • 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 
  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 
  1. S V Creditline Pvt. Limited, New Delhi
  2. Margdarshak Financial Services Limited, Uttar Pradesh
  3. Madura Micro Finance Limited, Tamil Nadu
  4. ESAF Micro Finance & Investments P. Ltd, Kerala
  5. Fusion Micro Finance P. Limited, New Delhi
  6. Sonata Finance Pvt. Ltd, Uttar Pradesh
  7. Saija Finance Private Ltd, Bihar
  8. Arth Micro Finance Pvt. Limited, Rajasthan
  9. Shikhar Microfinance Pvt. Limited, New Delhi
  10. Navachetana Microfin Services Pvt. Ltd, Karnataka
  11. Samasta Microfinance Limited, Bangalore
  12. Satin Credit Care Network Ltd, New Delhi
  13. Sahyog Microfinance Limited, Madhya Pradesh
  14. Arohan Financial Services Private Limited, West Bengal
  15. Suryodaya Microfinance Ltd, Maharashtra
  16. Ujjivan Financial Services Pvt. Ltd Karnataka
  17. Future Financial Services Limited Karnataka
  18. SKS Microfinance Limited Telangana
  19. Utkarsh Micro Finance P. Ltd, Uttar Pradesh
  20. Equitas Micro Finance Limited Tamil Nadu
  21. Grameen Development & Finance P. Limited Assam
  22. Hindustan Microfinance Private Limited, Maharashtra
  23. Namra Finance Ltd, Gujarat
  24. Muthoot Fincorp Limited, Kerala
  25. Sambandh Finserve Pvt Ltd, Bhuvaneshwar
  26. RGVN (North East) Microfinance Limited, Guwahati Assam
  27. Nightingale Finvest Pvt Ltd. West Bengal
  28. Asirvad Microfinance Private Limited Chennai
  29. Village Financial Services Pvt Limited, West Bengal
  30. Janalakshmi Financial Services Pvt Ltd Bangalore
  31. Disha Microfin Private Limited Ahmedabad
  32. SMILE Microfinance Limited Chennai
  33. Light Micro Finance Limited Ahmedabad
  34. Uttarayan Financial Services Pvt Ltd. West Bengal
  35. Unacco Financial Services Private Limited Guwahati Assam
  36. Varam Capital, Chennai
  37. YVU Financial Services Private Ltd. Guwahati
  38. IDF Financial Services Pvt Ltd. Bangalore
  39. Belstar Investment & Finance P. Ltd. Tamil Nadu
  40. Jagaran Microfin P. Ltd, West Bengal
  41. MSM Microfinance Limited, Chennai
  42. M Power Micro Finance Private Ltd. Vadodara Gujarat
  43. Navachetana Microfin Services Pvt. Limited Bangalore
  44. Digamber Capfin Ltd, Rajasthan
  45. Midland Microfin Limited Punjab
  46. Vedika Credit Capital Ltd, Ranchi
  47. Intrepid Finance and leasing Pvt. Limited, Mumbai
  48. Reliance Capital Limited
  49. Fullerton India Credit Co. Limited
  50. Shriram Transport Finance Co. Limited
  51. Shriram City Union Finance Limited
  52. Equitas Finance P. Limited
  53. India Infoline Limited
  54. SREI Equipment Finance Limited
  55. Magma Fincorp Limited
  56. Religare Finvest Limited
  57. ECL Finance Limited
  58. AU Financiers India Limited
  59. SE Investments Limited
  60. Intec Capital Limited
  61. Sakthi Finance Limited
  62. Esskay Auto Finance Limited
  63. Electronica Finance Limited
  64. MAS Financial Services Limited
  65. IKF Finance Limited
  66. Bansal Credits Limited
  67. Five Star Business Credits Limited
  68. Indiabulls Financial Services Limited
  69. Mahindra & Mahindra Financial Services Ltd
  70. Pudhuaaru Financial Services Pvt Limited 
  71. Nabard Financial Services Ltd 
  72. Vistaar Financial Services P. Limited
  73. Shriram Finance Corporation Pvt Ltd 
  74. India Infoline Finance Ltd
  75. Ananya Finance for Inclusive Growth Pvt. Limited
  76. Capital First Limited
  77. Maanaveeya Development & Finance Private Ltd
  78. Jumbo Finvest (India) Limited 
  • MFIs 
  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

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. 


How can I apply for Mudra Loan online?

Yes, you can. Approach the nearest MUDRA-authorised bank or financial institution with a proper business plan. Carefully fill out the application form and submit it with documents and passport-size photos.

Can I apply for Mudra Loan offline?

Yes, you can. Approach the nearest MUDRA-authorised bank or financial institution with a proper business plan. Carefully fill out the application form and submit it with documents and passport-size photos. 

What are the different categories under MUDRA? 

Mudra has three categories of loans depending on the loan amount – Shishu, Kishor, and Tarun. The loan amount and interest rates for loans of different categories will be different. 

What is the loan amount for different categories under Mudra Yojana?

Mudra Yojana offers up to ₹50,000 for Shishu, ₹50,000 to ₹5,00,000 for Kishor and ₹5,00,000 to ₹10,00,000 for Tarun.

Was this helpful?

Nishant Prasad

Chief Compliance Officer
Nishant is a qualified lawyer from NALSAR University of Law, Hyderabad having 8+ years of experience and is the Chief Compliance and Legal Officer at Wint Wealth. He has been working in the finance and wealth management space for the past 5+ years and is an NISM certified mutual fund expert. He has previously worked for Khaitan & Co and Scripbox.

Popular Articles

Sovereign Gold Bond 2023-24 (Series 2): Price, Benefits, Issue Dates
Sovereign Gold Bond 2023-24 (Series 2): Price, Benefits, Issue Dates
  • 11 min read
  • 15 June 2023
What Are Gold BeES and How Do They Work?
What Are Gold BeES and How Do They Work?
  • 6 min read
  • 12 January 2023
Banking Ombudsman Scheme: Here is how to file your complaint against your Bank
Banking Ombudsman Scheme: Here is how to file your complaint against your Bank
  • 7 min read
  • 28 February 2023
How to Check Mutual Fund Status with Folio Number
How to Check Your Mutual Fund Status with a Folio Number?
  • 5 min read
  • 6 December 2022
Difference between Visa Classic, Platinum, Signature and Infinite Cards
Difference between Visa Classic, Platinum, Signature and Infinite Cards
  • 6 min read
  • 29 March 2023

Recent Articles

Is FD a Wealth Destroyer?
Is FD a Wealth Destroyer?
  • 4 min read
  • 6 December 2023
You Will Get Rs 100/day for Unresolved Complaints Beyond 30 Days
You Will Get Rs 100/day for Unresolved Complaints Beyond 30 Days
  • 3 min read
  • 5 December 2023
Does Equity Give You the Profit of Compounding?
Does Equity Give You the Profit of Compounding?
  • 3 min read
  • 5 December 2023
FD Withdrawal Rules Amended: You Can Now Prematurely Withdraw Upto Rs 1 Cr
FD Withdrawal Rules Amended: You Can Now Prematurely Withdraw Upto Rs 1 Cr
  • 3 min read
  • 5 December 2023
Mark Your Calendar: SGB’s Maiden Tranche Matures on November 30
Mark Your Calendar: SGB’s Maiden Tranche Matures on November 30
  • 3 min read
  • 28 November 2023