BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Tuesday, January 12, 2016

Mudra Bank Refinances Rs 1,500 Crore to Micro Units

Mudra Bank, which has been set up to provide credit to micro units, has so far refinanced Rs 1,500 crore under the Pradhan Mantri Mudra Yojana.

"In the first nine months of inception, Mudra Bank has so far refinanced Rs 1,500 crore to micro units through public sector banks," Mudra Bank CEO Jiji Mammen said.

He said under the Mudra loan scheme, total disbursements made to banks and others were to the tune of Rs 75,000 crore. During this fiscal, disbursement target is Rs 1.22 lakh crore, he told reporters on the sidelines of the Eastern India Micro-finance summit here on Tuesday.

Out of the Rs 1,500 crore refinanced, Rs 800 crore were being taken by banks and the balance by micro-finance institutions (MFIs) and NBFCs, he said.

The government had provided Rs 20,000 crore to Mudra Bank  as equity capital.

Mammen said if banks wished to avail of refinance from Mudra, they would have to extend credit at the base rate.

Mudra would charge 6.72 per cent interest from the banks, he said adding, it would also provide credit guarantee support for the loans taken.

No comments:

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">