Pradhan Mantri Mudra Yojna Mega Credit Camps at all Banks from Sept 25

Port Blair, Sept 8: The Government of India has launched Micro Units Development and Refinance Agency (MUDRA) and Pradhan Mantri Mudra Yojna (PMMY) on 08th April 2015, which is aimed to increasing the access of small borrowers to credit from formal financial sector. MUDRA will bridge the gap and go a long way in ‘Funding the Unfunded’. A subsidiary company of Small Industries Development Bank of India (SIDBI) named MUDRA Limited has been incorporated under the Companies Act, 2013 to start the refinance operations. There are three categories of MUDRA loans under the PMMY named ‘Shishu’,’Kishor’ and ‘Tarun’, to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur and also provide a reference point for the next phase of graduation/growth to look forward to: Shishu: covering loans upto Rs.50,000.00, Tarun : covering loans above Rs.50,000.00 and upto Rs.5.00 lacs and Tarun : covering loans above Rs.5.00 lacs and upto Rs.10.00 lacs.
To boost up the progress it has been decided that all Banks of our Islands will organize Mega Credit Camps at their Branches for PMMY during 25th September to 02nd October 2015. The main emphasis of the Camp would be on disbursement of loans under ‘Shishu’ Category. Interested Entrepreneurs are requested to contact their Bank Branch for application of loans more details of the scheme under ‘Shishu’ category i.e.loan upto Rs. 50,000.00.