Understanding of Loan for Micro Units (Part of MSME)
MUDRA LOAN :
MUDRA stands for Micro Units Development & Refinance Agency Ltd. It is an NBFC supporting development of micro enterprise sector in the country.
PURPOSE OF MUDRA LOAN :
MUDRA loan is extended for a variety of purposes which result in income generation and employment creation.
MUDRA CARD :
MUDRA Card is a debit card issued against the MUDRA loan account, for working capital portion of the loan. The borrower can make use of MUDRA Card in multiple drawals and credits. MUDRA Card can be operated across the country for withdrawal of cash from any ATM / micro ATM and also make payment through any ‘Point of Sale’ machines.
SYNERGIES WITH SCHEMES :
MUDRA has synergised with various schemes like “MAKE IN INDIA”, “NATIONAL RURAL LIVELIHOOD MISSION”, and “NATIONAL SKILL DEVELOPMENT CORPORATION”.
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