Online platform will also use analytics to provide lenders with more information about micro borrowers
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Tag: Jiji Mammen
Mudra loans set to top Rs 2L cr in FY18; WB, TN, Bihar biggest recipients
Nearly four million small entrepreneurs, involved in diverse businesses ranging from neighbourhood grocery stores to micro dairy units and carpentry services, availed loans up to Rs 10 lakh in 2016-17 through the scheme.
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MUDRA loan disbursals take a hit due to demonetisation
Loan disbursals by Micro Units Development and Refinance Agency (MUDRA) slowed down in the third quarter of current financial year following the demonetisation of high-value currencies, an official said. “We have disbursed Rs 80,000 crore (from April 1 to December 31, 2016). There have been…
MUDRA lends over Rs 42,000 crore in 5 months
Prime Minister Narendra Modi’s pet project, Micro Units Development & Refinance Agency (MUDRA), has disbursed over Rs 42,000 crore in the five months of this financial year. This is one fourth of its annual target of Rs 1,80,000 crore. The lending agency’s disbursals nearly double…
Mudra bank turns digital; launches mobile app
Micro Units Development & Refinance Agency (MUDRA), which was set up by the Government of India for developing and refinancing micro enterprise segment through lending institution which are in the business of lending to small / micro business entities engaged in manufacturing, trading, and se…
There’s room for small entrepreneurs to get interest-free credit | MUDRA Chief
If micro-enterprise owners such as vegetable/fruit vendors and small food stall owners play their cards right, it may be possible for them to get interest-free credit from banks under the Pradhan Mantri Mudra Yojana. Once more ATMs with cash-deposit facility and standalone cash-deposit machines a…
Despite high target, Mudra refinance to remain low
Even as the government has set a lofty target of Rs 180,000 crore of loan sanctions under its Mudra Yojana, the actual refinance by Mudra, Non-Banking Finance (NBFC) arm of Small Industries Development Bank of India (SIDBI), will be not more than Rs 4,000 crore this year. In the 2015-16 budget,…
Mudra Bank refinances Rs 1,500 crore to SMEs
Mudra Bank, which has been set up to provide credit to micro units, has refinanced Rs 1,500 crore under the Pradhan Mantri Mudra Yojana. “In the first nine months of inception, Mudra Bank has so far refinanced Rs 1,500 crore to micro units through public sector banks,” Mudra Bank CEO …