Mudra Bank encourages startups and businesses.

मुद्रा एक राष्ट्रव्यापी आंदोलन है।  पढ़े लिखे युवाओं के सपनों  को फण्ड करने की मोदी सरकार का                                                        अनोखा प्रयास।  

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‘MUDRA Bank will provide cheaper loans to 5.7 cr informal enterprises’

What is MUDRA Bank?

MUDRA Bank, is a new institution setup by the GoI for development of micro units and refinance of MFIs to encourage entrepreneurship in India & provide the funding to the non corporate small business sector.

Under the scheme, Pradhan Mantri Mudra Yojana three categories of interventions has been named which includes

1.  Shishu :- Loan upto ₹50000 

2.  Kishore :- Loan ranging from ₹50000  to ₹5 lakh 

3.  Tarun :- Loan above ₹5 lakh(US$7,500) and below ₹10 lakh 

Eligibility : http://mudrabank.com/blog/industries-cover-in-mudra-yojana/

1. More effective Banking System

MUDRA partners with State and regional- level coordinators to increase the penetration of small business enterprises. MUDRA will also help in hedging the risk. Risk is a major reason for higher rates charged to people. Hence this will drastically reduce the cost of financing. This will enable small banks, NBFCs, other MFIs to lend at much lower rate.

2. From Credit-Only Approach to Credit plus solution

Unlike corporate sector, small business enterprises lack talent & Skill development .This is one of the areas our government emphasizing upon. If provided with proper direction, many small businesses can take a big leap and can achieve sustainable growth over the years.

In the similar attempt, MUDRA bank has come up with credit plus solution approach.

Under this approach MUDRA will work on mobilizing the resources in order to provide assistance to poor especially women.

3. Fund the unfunded

MUDRA will help in providing the financial assistance to the “unfunded” entrepreneurs. In 7 Months, Already 37000 Cr has been disbursed till date to over 60 lakh entrepreneurs, according to the data put out by mudra.org.

Conclusion

It’s evident that to increase the GDP growth rate and more importantly for betterment of livelihood of the rural people, SMEs have to thrive towards sustainable growth. MUDRA is the step in that direction. 

MUDRA Bank can be positive for micro-finance sector: ICRA

Very informative video on Mudra bank and loan facility to small sectors

 सोशल मीडिया पर इस जानकारी को शेयर करके अपने देशवासियों की मदद करें 

Courtsey : Prashant Pandey ( U.P.) 

Sources :

http://www.thehindubusinessline.com/money-and-banking/mudra-bank-can-be-positive-for-microfinance-sector-icra/article6966349.ece?ref=relatedNews

http://www.business-standard.com/