Micro Units Development and Refinance Agency Bank - Revision history

->Paradoctor: Disambiguating links to Last mile (link removed) using DisamAssist.

2021-12-15T03:14:10Z

Disambiguating links to Last mile (link removed) using DisamAssist.

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	'''Micro Units Development and Refinance Agency Bank''' (or '''MUDRA Bank''')<ref>{{Cite news\|url=http://infnd.com/pradhan-mantri-mudra-yojana-bank-loan-in-hindi/\|title=Pradhan Mantri Mudra Yojana (Mudra Loan)\|work=Infnd\|language=en-US}}</ref>) is a [[public sector]] financial institution in [[India]]. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by [[Prime Minister of India\|Prime Minister]] [[Narendra Modi]] on 8 April 2015.<ref name=CheaperFinance>{{cite news\|title=MUDRA to help 5.7 crore very small businesses access cheaper finance \|url=http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece \|archive-url=https://archive.is/20150409130155/http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece \|url-status=dead \|archive-date=9 April 2015 \|accessdate=9 April 2015 \|work=[[The Hindu Business Line]] \|date=8 April 2015 }}</ref>		'''Micro Units Development and Refinance Agency Bank''' (or '''MUDRA Bank''')<ref>{{Cite news\|url=http://infnd.com/pradhan-mantri-mudra-yojana-bank-loan-in-hindi/\|title=Pradhan Mantri Mudra Yojana (Mudra Loan)\|work=Infnd\|language=en-US}}</ref>) is a [[public sector]] financial institution in [[India]]. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by [[Prime Minister of India\|Prime Minister]] [[Narendra Modi]] on 8 April 2015.<ref name=CheaperFinance>{{cite news\|title=MUDRA to help 5.7 crore very small businesses access cheaper finance \|url=http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece \|archive-url=https://archive.today/20150409130155/http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece \|url-status=dead \|archive-date=9 April 2015 \|accessdate=9 April 2015 \|work=[[The Hindu Business Line]] \|date=8 April 2015 }}</ref >

	==Overview==		==Overview==
	The formation of the agency was initially announced in the [[2015 Union budget of India]] in February 2015.<ref name=PIBMudra/><ref name=MSMEsector>{{cite news\|title=MUDRA Bank holds promise for MSME sector\|url=http://www.thehindu.com/news/cities/Visakhapatnam/mudra-bank-holds-promise-for-msme-sector/article6971325.ece \|work=[[The Hindu]]\|date=8 March 2015}}</ref> It was formally launched on 8 April.<ref name=CheaperFinance/>		The formation of the agency was initially announced in the [[2015 Union budget of India]] in February 2015.<ref name=PIBMudra/><ref name=MSMEsector>{{cite news\|title=MUDRA Bank holds promise for MSME sector\|url=http://www.thehindu.com/news/cities/Visakhapatnam/mudra-bank-holds-promise-for-msme-sector/article6971325.ece \|work=[[The Hindu]]\|date=8 March 2015}}</ref> It was formally launched on 8 April.<ref name=CheaperFinance/>

	The MUDRA banks were set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks, by using [[last mile]] agents. About 5.77 [[crore]] (57.6 [[million]]) small business have been identified as target clients using the [[National Sample Survey Organisation\|NSSO]] survey of 2013. Only 4% of these businesses get finance from regular banks. The bank will also ensure that its clients do not fall into indebtedness and will lend responsibly.<ref name=PIBMudra>{{cite news\|title=Micro Units Development and Refinance Agency (Mudra) Bank\|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=116209 \|work=[[Press Information Bureau]]\|date=1 March 2015}}</ref><ref name=10Things>{{cite news\|title=11 things you must know about Mudra Bank\|url=http://www.dnaindia.com/money/report-11-things-you-must-know-about-mudra-bank-2075665 \|work=[[DNA India]]\|date=8 April 2015}}</ref>		The MUDRA banks were set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks, by using last mile agents. About 5.77 [[crore]] (57.6 [[million]]) small business have been identified as target clients using the [[National Sample Survey Organisation\|NSSO]] survey of 2013. Only 4% of these businesses get finance from regular banks. The bank will also ensure that its clients do not fall into indebtedness and will lend responsibly.<ref name=PIBMudra>{{cite news\|title=Micro Units Development and Refinance Agency (Mudra) Bank\|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=116209 \|work=[[Press Information Bureau]]\|date=1 March 2015}}</ref><ref name=10Things>{{cite news\|title=11 things you must know about Mudra Bank\|url=http://www.dnaindia.com/money/report-11-things-you-must-know-about-mudra-bank-2075665 \|work=[[DNA India]]\|date=8 April 2015}}</ref>

	MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. Presently, the authorized capital of MUDRA is 1000 crores and paid up capital is 750 crore, fully subscribed by SIDBI.<ref>{{Cite web\|title=Genesis and Role of MUDRA\|url=https://www.mudra.org.in/AboutUs/Genesis#:~:text=MUDRA%20has%20been%20initially%20formed,crore,%20fully%20subscribed%20by%20SIDBI.\|access-date=2021-06-05\|website=www.mudra.org.in}}</ref> More capital is expected to enhance the functioning of MUDRA.		MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. Presently, the authorized capital of MUDRA is 1000 crores and paid up capital is 750 crore, fully subscribed by SIDBI.<ref>{{Cite web\|title=Genesis and Role of MUDRA\|url=https://www.mudra.org.in/AboutUs/Genesis#:~:text=MUDRA%20has%20been%20initially%20formed,crore,%20fully%20subscribed%20by%20SIDBI.\|access-date=2021-06-05\|website=www.mudra.org.in}}</ref> More capital is expected to enhance the functioning of MUDRA.
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	* [[Small Industries Development Bank of India]]		* [[Small Industries Development Bank of India]]
	* [[Financial inclusion]]		* [[Financial inclusion]]
			*[https://investingfinances.com/e-mudra-loan/ e MUDRA Loan interest rates]

	==References==		==References==

imported>MrOllie: citespam

2021-07-09T13:18:58Z

citespam

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{{Distinguish | Pradhan Mantri Mudra Yojana}}
{{Use dmy dates|date=January 2016}}
{{Use Indian English|date=January 2016}}
{{Infobox company
| name = Micro Units Development and Refinance Agency (MUDRA) Bank
| logo =
| caption =
| type = [[Subsidiary]]
| traded_as =
| location = Mumbai
| key_people =
| products = [[Microfinance]] and [[refinance]]
| area_served = [[India]]
| industry = [[Business finance]]
| founded = {{start date and age|2015|4|8|df=y}}
| assets =
| num_employees =
| homepage =
}}
'''Micro Units Development and Refinance Agency Bank''' (or '''MUDRA Bank''')<ref>{{Cite news|url=http://infnd.com/pradhan-mantri-mudra-yojana-bank-loan-in-hindi/|title=Pradhan Mantri Mudra Yojana (Mudra Loan)|work=Infnd|language=en-US}}</ref>) is a [[public sector]] financial institution in [[India]]. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] on 8 April 2015.<ref name=CheaperFinance>{{cite news|title=MUDRA to help 5.7 crore very small businesses access cheaper finance |url=http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece |archive-url=https://archive.is/20150409130155/http://www.thehindubusinessline.com/industry-and-economy/banking/pm-unveils-mudra-bank-to-facilitate-credit-to-very-small-businesses/article7080570.ece |url-status=dead |archive-date=9 April 2015 |accessdate=9 April 2015 |work=[[The Hindu Business Line]] |date=8 April 2015 }}</ref>

==Overview==
The formation of the agency was initially announced in the [[2015 Union budget of India]] in February 2015.<ref name=PIBMudra/><ref name=MSMEsector>{{cite news|title=MUDRA Bank holds promise for MSME sector|url=http://www.thehindu.com/news/cities/Visakhapatnam/mudra-bank-holds-promise-for-msme-sector/article6971325.ece |work=[[The Hindu]]|date=8 March 2015}}</ref> It was formally launched on 8 April.<ref name=CheaperFinance/>

The MUDRA banks were set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks, by using [[last mile]] agents. About 5.77 [[crore]] (57.6 [[million]]) small business have been identified as target clients using the [[National Sample Survey Organisation|NSSO]] survey of 2013. Only 4% of these businesses get finance from regular banks. The bank will also ensure that its clients do not fall into indebtedness and will lend responsibly.<ref name=PIBMudra>{{cite news|title=Micro Units Development and Refinance Agency (Mudra) Bank|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=116209 |work=[[Press Information Bureau]]|date=1 March 2015}}</ref><ref name=10Things>{{cite news|title=11 things you must know about Mudra Bank|url=http://www.dnaindia.com/money/report-11-things-you-must-know-about-mudra-bank-2075665 |work=[[DNA India]]|date=8 April 2015}}</ref>

MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. Presently, the authorized capital of MUDRA is 1000 crores and paid up capital is 750 crore, fully subscribed by SIDBI.<ref>{{Cite web|title=Genesis and Role of MUDRA|url=https://www.mudra.org.in/AboutUs/Genesis#:~:text=MUDRA%20has%20been%20initially%20formed,crore,%20fully%20subscribed%20by%20SIDBI.|access-date=2021-06-05|website=www.mudra.org.in}}</ref> More capital is expected to enhance the functioning of MUDRA.

This Agency would be responsible for developing and refinancing all Micro-enterprises sector by supporting the finance Institutions which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities. MUDRA would partner with Banks, MFIs and other lending institutions at state level / regional level to provide micro finance support to the micro enterprise sector in the country.

The bank will classify its clients into three categories and the maximum allowed loan sums will be based on the category:<ref name=10Things/>
* ''Shishu (शिशु)'': Allowed loans up to {{INRConvert|50|k}}
* ''Kishor (किशोर)'': Allowed loans up to {{INRConvert|5|l}}
* ''Tarun (तरुण)'': Allowed loans up to {{INRConvert|10|l}}

Government has decided to provide an additional fund of {{INRConvert|1|t}} to the market and will be allocated as
* 40% to Shishu
* 35% to Kishor
* 25% to Tarun

Those eligible to borrow from MUDRA bank are
* Small manufacturing unit
* Shopkeepers
* Fruit and vegetable vendors
* Artisans

==See also==
* [[Small Industries Development Bank of India]]
* [[Financial inclusion]]

==References==
{{Reflist}}

==External links==
* [https://www.mudrabank.com/ Bank's website]
* {{Official website|http://www.mudra.org.in/}}

[[Category:Financial services companies based in Mumbai]]
[[Category:Small-scale industry in India]]
[[Category:Modi administration initiatives]]
[[Category:2015 establishments in Maharashtra]]
[[Category:Financial services companies established in 2015]]