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MUDRA - Fund the Unfunded - A Subsidiary of SIDBI

Our PM Narendra Modi after Banking the unbanked with Jan Dhan Yojana says its a time to "Fund The Unfunded"! - MUDRA with a corpus of Rs. 20, 000 cr. as under Pradhan Mantri Mudra Yojana. 

What is the MUDRA Bank full form ? 

Micro Units Development & Refinance Agency Ltd.- MUDRA 

Its a Subsidiary of SIDBI and comes under department of Financial Services under Ministry of Finance. 

MUDRA has been registered as a non banking financial company NBC with RBI.  

What are the Objectives of MUDRA Bank?

  1. Creating a good architecture of last mile Financiers to micro businesses.
  2. Promoting right technology solutions for financial delivery to the last mile.
  3. To be an integrated financial and support services provider for the micro enterprises & help in economic and social development.
  4. Providing doorstep credit at lower cost.

Mudra is India's govt. innovation of funding the unfunded. Millions of common men and women of this country who runs small business for their living have almost remained outside the net of any formal institutional finance, in spite of their large contribution to the Indian Economy. 

This MUDRA Bank will offer loans of up to Rs. 10 lakh at low interest rate.  

Who is the Chairman of MUDRA bank? - PM Shri. Narendra Modi. 

For more information on MUDRA Scheme 

MUDRA Bank Website - Mudra.org.in

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