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 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%) 

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...