Mudra Bank stands for Mantri Micro Units Development and Refinance Agency Ltd (Mudra Yojna) Here. Mudra Bank will be responsible for refinancing micro-finance institutions in the business of lending to small entities. Check toll free number Online.
Interest Rates of Mudra Bank:
- Mudra Bank Starts Financing at 7.00% rate of Interest
Read More about – Mudra Bank Loan Schemes & Eligibility
Latest Update as on 08 February 2016: Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, Prime Minister Narendra Modi. The banking sector has been allocated an overall disbursement target of about Rs 1.22 lakh crore during 2015-16 for MUDRA loans.
The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who use funds totaling Rs 11 lakh crore and provide jobs to 12 crore people.
Some Special & Highlights Points of Mudra Bank:
Farmers will be eligible for Subsidy if 33% of the corp has been damaged.
The input subsidy given to distressed farmers will be enhanced by 50 per cent of the existing amounts.
Mudra Bank hs corpus fund of Rs.20000 crores
Credit Guarantee of Rs.3000 crore
Mudra Bank will helps for refinancing micr0-finance companies in the business of lending to small entities.
Mudra Bank – Mudra Card Information
Shishu/Kishor/Tarun Schemes – Mudra Bank
The Bank will nurture small businesses through different stages of growth and development of businesses termed as Shishu, Kishor and Tarun.
This is will be the first step when the business is just starting up. The loan cover in this stage will be upto Rs 50,000.
In this stage, the entreprenuer will be eligible for a loan ranging from Rs 50,000 to Rs 5 lakh.
This last and final category will provide loans for upto Rs 10 lakh.
27 nationalised, 15 private and one Regional Gramin Bank participated in mega loan under Pradhan Mantri Mudra Loan Scheme.
15.90 Crore were sanctioned to 3239 beneficiaries in Gurgaon under Pradhan mantri Mudra Yojna (PMMY).
SBBJ has sanctioned 16,814 loans amounting to Rs 226 crore under PMMY scheme.
Banks which are Participated under PMMY Scheme:
✓ HDFC Bank
✓ ICICI Bank
✓ Axis Bank
✓ Syndicate Bank
✓ Bank of Baroda
✓ Bank of India
✓ Union Bank
✓ United Bank
✓ Canara Bank
✓ Dena Bank
✓ Karur Vysya Bank
✓ Bank of Maharastra
✓ Indian Bank
✓ Uco Bank
✓ Kotak Bank
✓ Indian Overseas Bank
✓ State Bank of Travancore
✓ State Bank of Hyderabad
✓ State Bank of Bikaner & Jaipur