Objective of the Scheme
A special central microfinance agency – Micro Units Development Refinance Agency (MUDRA) has been created this year with an initial corpus of 20,000 Cr and credit guarantee corpus of 3,000 Cr to provide loan facilities to small businesses in India.
Mudra bank will provide refinancing to all micro-finance institutions that are providing loans to small businesses through Pradhan Mantri Mudra Yojna (PMMY). SC/ST enterprises will be the priority in this program.
It would ensure that proper credit facility to needy entrepreneurs and efficient and accurate recovery methods is followed by the bank on the other, to create and justifiable and balanced credit system.
Products and Schemes
Under the aegis of Pradhan Mantri Mudra Yojana (PMMY), MUDRA has created products / schemes. The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth to look forward to :
It would be ensured that more focus is given to Shishu Category Units and then Kishor and Tarun Categories.
Within the framework and overall objective of development and growth of micro enterprises sector under Shishu, Kishor and Tarun, the products being offered by MUDRA are so designed, to meet requirements of different sectors / business activities as well as business / entrepreneur segments.
The funding support from MUDRA are of four types :
Purpose of MUDRA loan
Approach the banks listed in the website and give them detailed description of the business. Fill the MUDRA form.The application form will be easier if you already have an account in the bank.