21COM112 Lecture Notes - Modi Ministry, Narendra Modi, Financial Institution
11 Dec 2022
Department
Course
Professor
Document Summary
Micro units development and refinance agency bank is a public sector financial institution in india. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which the provide credit to msmes (micro small & medium. It was launched by prime minister narendra modi on 8. April 2015 under the scheme pmmy (pradhan mantri mudra yojana). Schemes: shishu - rs. 50,000, kishor rs. 50,000 rs. Mudra card is a debit card that is issued to the loan applicants who wish to apply for mudra loan. When a loan applicant applies for this loan and if it gets approved, the bank or the lender opens a mudra loan account and issues the card along with it. Prime minister narendra modi said that the mudra yojana had transformed the lives of the poor in the country. Mudra yojana has opened up new avenues for youth, women and those who wanted to start or expand their businesses .
