MUDRA BANK
MUDRA Bank: Micro Units Development and Refinance Agency Bank is a public sector financial institution in India. It provides loans at low rates to microfinance institutions and non-banking financial institutions which then provide credit to MSME’s.
Eligible to borrow from MUDRA bank
Small manufacturing unit
Shopkeepers
Fruits / Vegetable vendors
Artisans
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 :
- a. Shishu : covering loans upto 50,000/-
- b. Kishor : covering loans above 50,000/- and upto 5 lakh
- c. Tarun : covering loans above 5 lakh to 10 lakh
MUDRA will be operating as a refinancing institution through State / Regional level intermediaries. MUDRA’s delivery channel is conceived to be through the route of refinance primarily to NBFCs / MFIs, besides other intermediaries including Banks, Primary Lending Institutions etc.
Loans Upto Rs2,00,000/- can be granted on scrutiny of personal documents but to grant loans above Rs2,00,000 you need to have the financial statements of the business you are applying for
