Micro Units Development Refinance Agency (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units. It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016.
The primary purpose of PM Narendra Modi’s Pradhan Mantri MUDRA Yojana will be providing refinance for lending to micro businesses/units (medium and small entrepreneurs).
Under the scheme, Pradhan Mantri Mudra Yojana three categories of interventions has been named which includes
- Shishu :- Loan upto ₹50000 (US$750)
- Kishore :- Loan ranging from ₹50000 (US$750) to ₹5 lakh (US$7,500)
- Tarun :- Loan above ₹5 lakh (US$7,500) and below ₹10 lakh (US$15,000)
Businesses/entrepreneurs/units covered would include proprietorship/partnership firms running as small manufacturing units, shopkeepers, fruits/vegetable sellers, hair cutting saloon, beauty parlours, transporters, truck operators, hawkers, co-operatives or body of individuals, food service units, repair shops, machine operators, small industries, artisans, food processors, self help groups, professionals and service providers etc. in rural and urban areas with financing requirements up to Rs 10 lakh.
The products initially being launched are as under:
Sector/activity specific schemes, such as schemes for business activities in Land Transport, Community, Social & Personal Services, Food Product and Textile Product sectors. Schemes would similarly be added for other sectors / activities.
1. Micro Credit Scheme (MCS)
2. Refinance Scheme for Regional Rural Banks (RRBs) / Scheduled Co-operative Banks
3. Mahila Uddyami Scheme
4. Business Loan for Traders & Shopkeepers
5. Missing Middle Credit Scheme – Equipment Finance for Micro Units
1. Micro Credit Scheme (MCS)
2. Refinance Scheme for Regional Rural Banks (RRBs) / Scheduled Co-operative Banks
3. Mahila Uddyami Scheme
4. Business Loan for Traders & Shopkeepers
5. Missing Middle Credit Scheme – Equipment Finance for Micro Units
Ref:
- https://en.wikipedia.org/wiki/Pradhan_Mantri_Mudra_Yojana
- http://www.financialexpress.com/article/industry/banking-finance/pradhan-mantri-mudra-yojana-3-offerings-and-5-products-launched-by-narendra-modi/144770/
- http://profit.ndtv.com/news/budget/article-prime-minister-to-launch-rs-20-000-cr-mudra-bank-on-april-8-749642
This blog is intended to list all major projects initiated by or supported by NDA Govt and PM Modi. Information is collated from government websites and several publically available information on news sites and blogs. Please use comment section or contact form below to notify any updates or corrections. Thank You.
Thank you, do you have mudra bank branches list? Please provide me branch list.
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