- Launched on April 8 2015
- Under Pradhan Mantri Mudra Yojana (PMMY)
- As a wholly owned subsidiary of SIDBI
- With initial capital of Rs. 20000 crores and credit guarantee fund of Rs.3000 crores
- Major role - refinancing and developing micro enterprises
- It will provide funds to Non Corporate Small Business Sector (NCSBS)
- Agencies that provide the loan :
- PSBs, RRBs. Cooperative banks, MFIs, Private Sector Banks, Foreign Banks,NBFC
- Mudra Loan - 3 Categories
- Loans upto 50000 - Shishu Category
- Beyond 50000 upto 5 Lakhs - Kishore Category
- Beyond 5 Lakhs upto 10 Lakhs - Tarun Category
- Mudra Card - with CC/OD facility
- CGFMU - Credit Guarantee Fund for Mudra Units
- National Credit Guarantee Trustee Company Ltd. (NCGTC Ltd) - Trustee of the fund
- Extend to 50 percent of the default amount.
- MUDRA refinance rate for commercial banks, RRBs and cooperative banks - 6.72%
- Differential rate for MFIs, NBFC MFIs (presently 9.45% -11.45%)
Sunday, May 7, 2017
MUDRA Bank and PMMY
MUDRA Bank Launched on April 8 2015 Under Pradhan Mantri Mudra Yojana (PMMY) As a wholly owned subsidiary of SIDBI With initial ca...
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