Banks are expected to disburse Rs 1.80 lakh crore as loans under Micro Units Development and Refinance Agency (MUDRA) Bank Yojana during the current financial year, MUDRA Bank Chief Executive Jiji Mammen said on July 19. “We started our operations from April 2015. The total target for 2015-16 was…
Tag: Pradhan Mantri Mudra Yojana
Mudra aims Rs 1,80,000 cr loans in 2016-17
Minister of State for Finance Jayant Sinha has said that the government aims to disburse loans worth Rs 1,80,000 crore to small businesses through Mudra Banks in the current fiscal. “Last year Pradhan Mantri Mudra Yojana gave loans worth Rs 1,20,000 crore. This year the aim is to give loans…
MSMEs have vital role in success of Make in India | RBI Bengaluru GM
The strengthening of MSMEs (Micro, Small and Medium Enterprises) is vital to ‘Make in India’ programme a success, said N Gopal, General Manager, RBI, Bengaluru. Inaugurating an MSME meet, organised by RBI in Mangaluru on May 14, he said there is a need to handhold MSMEs as they have the potential…
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…
MSMEs hail tax exemption
Micro, Small and Medium Enterprises have welcomed the move to increase the turnover limit under the presumptive taxation scheme to Rs. 2 crore in the Union Budget. The move would bring relief to a large number of assesses in the MSME category, said N. Kanagasabapathy, President, and S. Punniyamoo…
Special SBI offer for tractor loan settlement
The State Bank of India (SBI), Chennai Circle, has pioneered recovery of dues from defaulting farmers who had failed to repay their farm mechanisation and tractor loans through a special one-time settlement offer. The Special SBI OTS for Tractor and Farm Mechanisation Loans 2015-16 gives the farm…
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 …
MUDRA Loans: Banks, Microfinance take Lion’s share
On January 7, the Government announced: “MUDRA (Micro Units Development Refinance Agency) loans amounting to Rs 71,312 crore have been disbursed to 1.73 crore borrowers as on 1st January, 2016.” A closer look at these numbers reveals the government refinanced loans of only Rs 2,000 crore under th…
Pradhan Mantri Mudra Yojana | Loans worth Rs 45,949 crore disbursed to MSMEs
The government has provided loans worth Rs 45,949 crore to micro and small enterprises till November 2015 end under the Prime Minister Mudra Yojana launched by Narendra Modi in April 2015. The scheme was first proposed by Finance Minister Arun Jaitely in 2015 Union Budget to create a Micro Units…
Innovative SMEs merit better institutional funding | CRISIL
A joint study by CRISIL and ASSOCHAM of 12,000 CRISIL rated micro enterprises, having a turnover of less than Rs 1 crore each, has found that access to institutional finance remains the biggest hurdle to growth for this segment. With access to institutional finance for meeting working capital nee…