1. Pradhan Mantri MUDRA Yojana targets 5.75 crore people: All you need to know in 10 quick points

Pradhan Mantri MUDRA Yojana targets 5.75 crore people: All you need to know in 10 quick points

MUDRA will be the key to success for small entrepreneurs. Pradhan Mantri MUDRA Yojana is one of PM Narendra Modi and his party, the Bharatiya Janata Party's (BJP), major pet policies - it targets 5.75 crore people.

By: | New Delhi | Updated: October 5, 2015 7:27 PM
Narendra Modi, Mudra scheme

The Pradhan Mantri MUDRA Yojana is aimed at “funding the unfunded” and save them (5.75 crore small entrepreneurs) from exploitation at the hands of money lenders. (PM Narendra Modi: PTI File Photo)

MUDRA will be the key to success for small entrepreneurs. Pradhan Mantri MUDRA Yojana (Micro Units Development and Refinance Agency) will provide support to the small entrepreneurs of India who are the biggest cogs in the wheels of business and help the economy grow – it is one of PM Narendra Modi and his party, the Bharatiya Janata Party’s (BJP), major pet policies. Govt has expressed confidence that within a year’s time, the major banks would adopt the MUDRA model. The MUDRA scheme is aimed at “funding the unfunded” and save them (small entrepreneurs) from exploitation at the hands of money lenders.

1. There are a number of facilities provided for the large industries in India, but according to the government there is a need to focus on the 5.75 crore self-employed people who use funds of Rs 11 lakh crore, with an average per unit debt of Rs 17,000 to employ 12 crore Indians. These facts, actually led to the vision for MUDRA Bank.

2. In his Budget Speech for Financial Year (FY) 2015-16, the Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs 20,000 crore, and credit guarantee corpus of Rs 3,000 crore.

3. MUDRA, to be set up through a statutory enactment, would be responsible for developing and refinancing through a Pradhan Mantri MUDRA Yojana, all Micro-finance Institutions (MFIs) which are in the business of lending to micro/small business entities engaged in manufacturing, trading and service activities.

4. MUDRA would also partner with State/Regional level coordinators to provide finance to Last Mile Financiers of small/micro business enterprises.

5. Further, the approach goes beyond credit only approach and offers a credit – plus solution for these enterprises spread across the country.

6. MUDRA will lay down policy guidelines for micro enterprise financing business

7. MUDRA will register MFI entities

8. MUDRA will provide accreditation /rating of MFI entities

9. MUDRA will lay down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery

10. MUDRA will formulate and run  a Credit Guarantee scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises

  1. S
    shekhar Bajirav
    Jan 5, 2017 at 3:57 am
    Shop opening share 2lak
    Reply
    1. A
      asha
      Dec 20, 2016 at 6:11 am
      o Sir, I need in 15 lac ruppes. mere p ghar nhi h apna mujhe ek ghar chahiye jo mera ho sake .Please request for you.
      Reply
      1. R
        Rahul
        Oct 7, 2015 at 3:36 am
        All those who are commenting here, please contact your nearest bank and ask about PM MUDRA loan. They will explain you the processes.
        Reply
        1. A
          ajay kant
          Oct 3, 2015 at 12:00 pm
          I want to take travel vechile loan under PM mudra yojna. please give me detail to take further action.
          Reply
          1. A
            anil
            Oct 2, 2015 at 4:27 pm
            Mudra is only a refinancing agency and lending will be mostly through PSU banks. The credit risk and loan servicing is to be done by these banks. If banks today are not lending to the sectors- which are proposed to be funded under the scheme, it is not because of paucity of funds. And MUDRA is only providing funds- so it is once again a gimmick- at least in practice if not in concept.
            Reply
            1. N
              neki ram
              Oct 4, 2015 at 9:54 am
              How can apply for this scheme plzzz tell me about this
              Reply
              1. D
                Debsis
                Oct 3, 2015 at 3:57 pm
                Pls give the details of Mudra Yojana & how it ll be benefited !!
                Reply
                1. P
                  Paresh Ch.
                  Oct 31, 2015 at 3:08 pm
                  How can I get the loan? Who can apply for it?
                  Reply
                  1. A
                    anirudh
                    Oct 5, 2015 at 11:18 am
                    how can I apply for this sheme "mudra yojona".. please inform me...
                    Reply
                    1. K
                      Kariyappa Rudresh
                      Oct 3, 2015 at 4:51 pm
                      Whome to ask for MUDRA loans. Is existing business enterprenuer os eligeble
                      Reply
                      1. B
                        Bhupendra Singh
                        Oct 5, 2015 at 8:43 am
                        How much margin money is required for Tarun category in service sector (Penger car all India permit).The amount for loan is Rs.900000/-
                        Reply
                        1. S
                          satwa dashrath
                          Oct 3, 2015 at 9:30 am
                          please give me a details of mudra yojana
                          Reply
                          1. S
                            satwa dashrath
                            Oct 3, 2015 at 9:30 am
                            please give me details mudra yojana
                            Reply
                            1. V
                              vikash kumar
                              Oct 3, 2015 at 3:45 pm
                              Plz tell me mudra bank how can i apply
                              Reply
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