MUDRA – Micro Units Development and refinancing Agency
Purpose- To Provide funding to Non Corporate Small Business sector (NCBS) through last mile financial institutions like banks,NBFCs and MFIs.
How it Functions?
-Funding Based on stage and growth of the enterprise/Business
- Shishu- Upto 50,000 Rs
- Kishore- From 50,000 – to 5 lakshs
- Tarun- From 5 lakshs to 10 lakhs
-The primary requirement for availing a MUDRA loan is to be a income generating activity under manufacturing, processing, trading and service sector and the loan amount is below 10 lakh.