INSUBCONTINENT EXCLUSIVE:
Pradhan Mantri MUDRA Yojana has divided the loans it offers into three categories.Pradhan Mantri MUDRA Yojana (PMMY) offers loans up to Rs
10 lakh to non-corporate, non-farm small/ micro enterprises
These loans are given by commercial banks, regional rural banks, small finance banks, cooperative banks, micro finance institutions and
non-banking finance companies
Loans worth Rs 82,440.87 crore have so far been sanctioned in financial year 2018-19, according to the last update on PMMY's website (as on
MUDRA has created three products to signify the stage of growth and funding needs of the beneficiary micro unit.MUDRA Yojana schemesPradhan
Mantri MUDRA Yojana has divided the loans into three categories:The Shishu scheme under MUDRA Yojana offers loans up to Rs 50,000.The Kishor
scheme under Pradhan Mantri MUDRA Yojana covers loans above Rs 50,000 and up to Rs 5 lakh.The Tarun scheme under MUDRA Yojana covers loans
above Rs 5 lakh and up to Rs 10 lakh.MUDRA CardMUDRA Card provides working capital facility as a cash credit arrangement, according to
MUDRA card is a debit card issued against the MUDRA loan account for working capital portion of the loan
The borrower can make use of MUDRA card in multiple withdrawal and credit facilities, so as to manage the working capital limit efficiently
and keep the interest burden minimum
MUDRA card will also help in digitalization of MUDRA transactions and creating credit history for the borrower.MUDRA card is a RuPay card
that can be operated across the country for withdrawal of cash from any ATM / micro ATM and also make payment through any 'Point of Sale'
PoS devices allow you to pay via cards.(MUDRA card is a RuPay card that can be operated across the country.)(: Jan Dhan Accounts Overdraft
Limit Doubled - Meaning, Benefits Explained Here)Eligibility to avail MUDRA loansThe non-corporate small business segment comprising
proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors,
truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and
urban areas, can avail MUDRA loans.
