Pradhan Mantri Mudra Yojana Funding the unfunded By-Smriti Sethi
Micro Units Development and Refinance Agency Limited (MUDRA), was launched as a financial institution on 8th April 2015 for supporting financial institutions, banks, Micro-finance Institutions (MFls), Non Banking Financial Institutions (NBFCs) and other lending institutions, which are in the business of lending to micro enterprises, engaged in manufacturing, trading, services and other income generating activities. MUDRA provides refinance, Credit Guarantee and other development support to these lending institutions to expand their outreach and providing support for "funding the unfunded". CS Pradhan Mantri Mudra Yojana (PMMY) is a programme directed towards supporting income generating micro enterprises engaged in manufacturing, trading and services sectors with a loan requirement up to Rs. 10 lakh.
MUDRA loans are disbursed in three categories: 1. Sh shu upto Rs. 50000/- 2. Kishor Rs. 50,000 and up to Rs. 5 lakh 3. Tarun above Rs. 5 lakh and up to Rs.10 lakh The micro enterprises loans upto Rs. 10 lakh are collateral free and they can be covered under Credit Guarantee Fund for Micro Units (CGFMU) operated by National Credit Guarantee Trustee Company Limited (NCGTC) Credit Guarantee Fund for Micro Units is a separate credit guarantee fund created for MUDRA loans, with an initial corpus of Rs. 3000 crore. National Credit Guarantee Trustee Company (NCGTC), managing various credit guarantee funds, was appointed as the implementing agency for Credit Guarantee Fund for Micro Units (CGFMU)
MUDRA CARD It is an innovative credit product, whereby the borrower can avail of credit in a hassle free and flexible manner. It provides a facility of working capital arrangement in the form of an overdraft facility to the borrower. Since MUDRA Card is a RuPay debit card, it can be used for drawing cash from ATM or Business Correspondent or make purchase using Point of Sale (POs) machine and repay the amount. MUDRAMITRA lt is a mobile phone application providing information regarding 'Micro Units Development and Refinance Agency Ltd. (MUDRA)' and its various products schemes. It guides a loan seeker to approach a Banker in availing MUDRA loan under Pradhan Mantri Mudra Yojana (PMMY)
FINANCIAL YEAR: 2017-2018 NO. OF PMMY LOANS SANCTIONED 36903984 Amount Sanctioned 181901.12 Crore Amount Disbursed 175410.41 Crore As on 22nd February 2018
New Classification of MSMEs Classification Micro Enterprise Small Enterprise Annual Turnover Less than or equal to Rs. 5 crore More than Rs. 5 crore but does not exceed Rs 75 crore More than Rs. 75 crore but does not exceed Rs. 25o crore Medium Enterprise
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