Micro Units Development & Refinance Agency Ltd. (MUDRA)
Micro Units Development & Refinance Agency Ltd. (MUDRA) was set up on April 08, 2015 as a wholly owned subsidiary of SIDBI for “funding the unfunded” micro enterprises in the country. MUDRA has been supporting Banks, Micro-finance Institutions (MFIs), NBFCs and other lending institutions through refinance assistance for onward lending to micro/ small business entities engaged in manufacturing, trading, service sector activities, activities allied to agriculture.
MUDRA services also include social empowerment initiatives through financial literacy, inclusion and other social support services, in addition to the financial assistance by way of credit plus policies.
MUDRA, currently with an authorised capital of INR 5,000 crore and a paid up capital of INR 1,675.93 crore, works closely with Banks, MFIs and other lending institutions at the state/ regional level to provide micro finance support to the growing micro enterprise sector in the country. It is also the primary vehicle to manage data under the Pradhan Mantri Mudra Yojana (PMMY) by managing the web portal, facilitate offering guarantees for loans granted under PMMY and take up other activities under the PMMY, from time to time.
- MUDRA’s refinance support has facilitated cheaper funds to lending institutions for expanding their lending up to INR 10 lakh. This has further helped in reducing cost to the ultimate beneficiaries.
- Close monitoring of lending at the ground level through PMMY has resulted in cumulative lending of INR8.93 lakh crore to 18.24 crore borrower accounts (as on 31.03.2019). Out of these, 70% borrowers were women, 26.5% were new loan accounts and 52% were SC/ST/OBC category.
- MUDRA has disbursed refinance of INR 20,159.75 crore till March 31, 2019 to various MFIs, NBFCs, Scheduled Commercial Banks including Regional Rural Banks and Small Finance Banks.
For more details kindly visit http://www.mudra.org.in/