Pradhan Mantri MUDRA Loan Yojana
MUDRA (Micro Units Development and Refinance Agency Ltd.) is an enterprise that supports Micro enterprise within the country for NBFC development. The enterprise offers with refinance schemes to support Micro finance industries and Banks, that are in need to loan for up to Rs 10 lakh in value. The loan assistance is provided by MUDRA under the MUDRA Yojana offered by Pradhan Mantri. Apart from this, it offers with a number of other related products for development within this sector.
Here we have stated various aspects related to its launch details.
|Name||Pradhan Mantri’s MUDRA Yojana|
|Launch Dates||Government Of India notification – 18th April 2016. Valid for all micro loans approved after 8th April 2015.|
|Launched BY||The scheme has been officially launched by the Government Of India under CGFMU (Credit Guarantee Fund for Micro Units)|
|Supervised By||The scheme once launched will be supervised and managed by NCGTC (National Credit Guarantee Trustee Company Ltd.|
|Contact Number||Shri Jiji Mammen (CEO) – 67531307
Shri Sanjay Shrivastav (DGM) – 67531229
Shri A.Misra (AGM) – 67531317
(You can also collect toll free numbers state wise on official website)
Categories in MUDRA Loan
MUDRA offers with numerous products and schemes for people under PMMY category. These products and schemes are termed as “Shishu”, “Tarun” and “Kishor”. Each one signifies a particular growth stage of the product or scheme offered by MUDRA.
Each stage mentioned above also signifies and caters to the needs and requirements of deserving micro unit enterprise. At the same time it offers with reference towards the next stage in development.
- Shishu – Under MUDRA this Micro funding stage covers all Micro units that are in need of loan amount up to Rs 50,000 in value.
- Kishor – For Micro Units MUDRA offers with financial assistance between Rs 50,000 to a maximum of Rs 5 lakh as loan for their establishments.
- Tarun – Micro units are also offered with loan assistance by MUDRA under this category to meet their requirements between Rs 5 lakh to Rs 10 lakh for their units.
The enterprise also focuses more on offering assistance to Shishu category as compared to Kishor and Tarun that are its next preference categories for offering financial assistance.
With an aim to offer assistance and development in business activities and sectors along with enterprise segments, MUDRA looks into all objectives for micro unit sectors via the products offered.
Funding support offered by MUDRA
MUDRA offers with four distinct types of funding assistance and support:-
- Micro credit Scheme (MCS) – This particular support is offered by MUDRA to various micro enterprises via MFIs (Micro Financial Institutions). Under his support they offer with a credit limit of Rs 1 lakh to enterprises so they can under take all enterprise activities.
The finding support is also offered via JLG and SHG in the form of loan amounts to help them take care of their enterprise activities. It is also expected that MFIs have to get registered with MUDRA.
- Refinance schemes (banks) – In general, various corporative banks (Scheduled), regional rural banks and Commercial banks are valid to seek refinance support via MUDRA. This assistance is offered to them in the form of capital and term loan amount. The amount given is equivalent to around Rs 10 lakh for each unit. All registered banks and financial institutions can request for support under any three categories offered.
- Women Enterprise Program – This scheme is offered with an aim to encourage women entrepreneurs. They are offered with extra facilities from banks and institutions. The interest rate offered is also low with a reduction equivalent to 25bps, given to the financing banks.
- Loan portfolio securitization – Support is also offered by MUDRA to various banks/ MFIs/NBFCs for making the funds available for loan. All their assets are also secured by MUDRA and provide them with loss default guarantee. At the same time it provides with PTC (pass through certificates) for the investors.