MUDRA (Micro Units Development and Refinance Agency Ltd)
- In the Union Budget for FY 2015-16, the formation of MUDRA Bank was announced, and was launched by PM Modi on 08 April 2015.
- To be an integrated financial and support per excellent bench marker with global best practices and standards.
- To create an inclusive, sustainable and value based entrepreneurial culture.
- To achieve success through the support from the partner institutions.
- Finally, to create an ecosystem of growth and to succeed in all aspects of the micro processors sectors.
Key Factors :
- MUDRA was set up by the Government of India (GoI).
- The authorized capital of MUDRA is 1000 Cr.
- Paid up capital is 750 Cr.
- Both authorized and Paid up Capital fully subscribed by SIDBI.
- It will be responsible for developing and refinancing all Micro-enterprises sector.
- It will partner with Banks, MFIs and other lending institutions at state level / regional level.
- The main aim of MUDRA was to provide support to the micro enterprise sector in the country.
Note: Chairman of MUDRA – SHRI MOHAMMAD MUSTAFA
- The primary objective of MUDRA was to develop the the micro enterprise sector in the Country.
- Mudra wants to extend various supports like finance in the form of refinance.
- It will provide refinance support, monitor the PMMY data by managing the web portal, facilitate offering guarantees for loans granted under PMMY and take up other activities assignedto it from time to time.
- MUDRA has put in place a monitoring portal which captures the data on lending under PMMY, in a granular fashion.
It’s primary responsibility is to provide funding to nearly 5.8 crore Non-Corporate Small Business Sector (NCSB)
units of the country through various Last Mile Financial Institutions like Banks, NBFCs and MFIs