Indian Government Schemes: Pradhan Mantri MUDRA Yojana UPSC, PSC, SSC Examination.
Pradhan Mantri MUDRA Yojana has emerged as a blessing in the field of MSME (Small, Medium and Medium Enterprises) and highly recommended as a strong step towards achieving inclusive growth.
Prime Minister Narendra Modi launched the bank Micro Units Development and Refinance Agency Ltd (MUDRA) on April 8, 2015, promised with Rs 20,000 corpus and a Rs 3,000 loan guarantee corpus.
MUDRA BANK :
Mudra Bank represents the Micro Units Development Refinance Agency (MUDRA). Also, Mudra, in Hindi, says money. Mudra Bank is established by law and will be responsible for development once and for all re-launch with Pradhan Mantri MUDRA Yojana.
The principal objectives of the MUDRA Bank are:
1) Expand financial and lending support to microfinance institutions (MFI) and institutions that lend money to small businesses, retailers, self-help organizations and individuals. 2. Regulate the lender and the borrower of microfinance Swachh and bring stability to the microfinance system through by regulation and inclusive participation. 3. Register all MFIs and introduce a system of performance rating and accreditation for the first time. This will help last-mile borrowers of finance to evaluate and approach the MFI that meets their requirement the best and whose past record is most satisfactory. 4. It will also introduce a competitive factor between MFI. The ultimate beneficiary will be the borrower.
5.Provide structured guidelines for the borrowers to follow to avoid failure of business or take corrective steps in time.6.MUDRA will help in laying down
guidelines or acceptable procedures to be followed by the lenders to recover money in cases of default.7. Develop the standardised covenants that will form the backbone of the last-mile business in future.8. Offer a Credit Guarantee scheme for providing guarantees to loans being offered to micro businesses.9. Introduce appropriate technologies to assist in the process of efficient lending, borrowing and monitoring of distributed capital.10. Build a suitable framework under the Pradhan Mantri MUDRAYojana for developing an efficient last-mile credit delivery system to small and micro businesses. Key product offerings: MUDRA Bank has significantly divided its borrowers into three segments: novice, intermediate seekers, and next-tier applicants.
To address the three segments, MUDRA Bank haas launched three loan instruments:
1. Shishu : Guaranteed loans up to Rs 50,000/
2. Kishore :Guaranteed loans from Rs 50,000 and up up to 5 lakhs.
3. Tarun : guarantees loans from 5 lakhs to 10 lakhs.
Sectoral plans are initially limited to “land transport, public, social and personal services, food and textiles”. After a while, a new plan that covers more fields will be launched. Some of the upcoming offers:
1. MUDRA Card
2. Portfolio Loan Guarantee
3. Credit Extension
Also Read : Pradhan Mantri Jan Dhan Yojana