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PradhanMantriMudhra Yojana is a schemeunder theMicro Units Development
And Refinace Agency(MUDRA).A new institution set up by the government of
India for developing and refinancing activities related to micro units. It was
announced during the annual budget of 2016.It helps young and potential
entrepreneurs’ by providing loans upto one lakh crore sanctioned under the
The scheme is divided into three major types or categories of interventions
namely the following
Shishu -loan up to Rs50,000
Kishore- loan ranging from Rs50,000 to Rs5,00,000
Tarun-Loan above Rs5,00,000 upto the extent of Rs10,00,000
These three categories will symbolise the growth, development and funding
needs of the young entrepreneurs.The loan amount is allotted by the Micro
Units Development and Refinance Agency Bank.
Results of the Mudra scheme
Under this scheme 1,65,000 people avail the over-draft facility also to
which the government mobilised the US dollar($).
Banks have disbursed Rs 240 billion to 27 lakh small entrepreneurs’.
It has been highly beneficial for the upcoming entrepreneurs’ especially
from the rural parts of the country.
Advantages of the Mudra scheme
The emergence of start-up’s and their success in India is starting to get
recognized globally.Foriegn companies have started noticing and are investing
Looking at the advantages of the MUDRA scheme we can see that it is suitable
and helpful in providing low cost funding for micro finance institutes, with
special preference given to the backward classes. Onemore advantage is there
is more liquidity and access for funds for small scale businesses allowing them
to work flexibly. The small scale businesses by integrating with MUDRA, would
lead to their success. Uniformity in regulations and best practices for the SHG
bank linkage programme, NBFC, MFI’s and trusts, societies and non-profit
companies engaging in MUDRA activities as MUDRA banks will be the sole
regulator for the participants in the Micro Finance Sector.
Application procedure for taking a loan from Mudra bank.
Individuals mustspecify to which of the 3 categories their business
Shishu category -will be granted loan up to Rs50,000
Kishorecategory-willbe granted loan from Rs50,000 to Rs5,00,000
Tarun category- will be granted loan from Rs5,00,000 to to Rs10,00,000
After preparing the necessary business plan, he/sheshould contact the
nearest Public or Private bank where applications of the MUDRA Yojana
After the loan is approved a MUDRA card will be given to the individual
which can be used similar to a credit card, wherethe individual can buying
essential commodities and goods required for his business. Thelimit on the
card will be 10% of the business loan taken by the individual.
This is the firststep in promoting and producing potential entrepreneurs’ in
the country. The schemenot only promotes entrepreneurs but also helps in
the development of the countries small scale industries which are a sign of
our nation’s heritage and diverseculture. The epitome of this schemeis
simply not focusing on FDI’s or MNC’s butencouraging our very own
identity and to improvethe standard of the people.