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MUDRA BANK

http://mudrabank.com/

What is MUDRA Bank?
Micro Units Development and Refinance Agency Bank (MUDRA Bank), is a new institution setup by the Government of India for development of micro units and refinance of MFIs to encourage entrepreneurship in India & provide the funding to the non corporate small business sector.
MUDRA Yojana had announced by the Finance Minister in Parliament during Union Budget for FY 2016.
MUDRA Bank will need two type of product like refinance for the micro units haveing loan requirement from Rs 50 thousands to 10 lakhs and support of Micro Finance Institutions (MFI) for on landing. MUDRA will refinance to micro business under the scheme of Pradhan Mantri MUDRA Yojana.
What is MUDRA Scheme/ Yojana?
Under the guideline of Pradhan Mantri MUDRA Scheme, MUDRA Bank has launched its three initiative product and its name is SHISHU, KISHOR & TARUN to signify the stage of growth and funding needs of the micro units or entrepreneur.
MUDRA Bank is refinancing through State level institutions, MUDRA will deliver the loan through NBFCs, MFIs, Rural Banks, District Banks, Nationalize Banks, Private Banks, Primary Lending Institutions and other intermediaries.
What is the Interest Rate of MUDRA Bank Loan?
There is no fix Interest rate in MUDRA loan. According to source banks are charging around Base Rate + 1% to 7% minimum. The interest rate can be higher according to risk and customer profile and it can be different in all banks. So please check all nearest bank branches once before apply the MUDRA Bank Loan.
There is no subsidy for the loan given under PMMY. However, if the loan proposal is linked some Government schemes, wherein the Government is providing capital subsidy, it will be eligible under PMMY also.
The usual terms and conditions of the lending agency may have to be followed for availing of loans under PMMY. The Interest rates are as per the RBI guidelines issued in this regard from time to time.
Who is eligible for MUDRA Bank Loan?
Any Indian Citizen who are involve in income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Banks, MFIs, Financial Institutions or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY). MUDRA Bank is not refinancing agriculture sector under PMMY but traders of vegetables & fruits covers under MUDRA Bank Schemes.
Recently Central Government decides to provide an additional fund of One Lakh crore to the market and it will be allocate according to below list.
40,000 Crore Rupee for Mudra Bank Shishu Loan Scheme.
35, 000 Crore Rupee for Mudra Bank Kishor Loan Scheme.
25, 000 Crore Rupee for Mudra Bank Tarun Loan Scheme.
Share your experience with us at info (at) mudrabank.com
We are getting lots complaints from users that banks are not showing interest to disburse loan under MUDRA scheme. We work on that issue and found that Banks area not showing interest because it is unsecured & can be NPA at large scale.   
Author:- Jeevan Pant
mudrabank.com is not belongs to govt. of India or any other MUDRA or any other Govt. agency. We made that website to share experience & exchange information only. MUDRA is not a bank, it has been constituted to make policy for MUDRA Loan & provide collateral loan to unorganised sectors & individuals.  


MUDRA BANK Reviewed by sambasivan srinivasan on 4:00:00 PM Rating: 5

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