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.
Source:http://mudrabank.com/
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