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 lending to micro/ small business entities engaged in manufacturing, trading, service sector activities, activities allied to agriculture and other eligible income- generating activities.
MUDRA also manages the PMMY portal where the lending institutions upload their operational data relating to implementation of the Pradhan Mantri Mudra Yojana (PMMY). The progress of implementation of PMMY is reviewed periodically by MUDRA Ltd. and Department of Financial Services, Ministry of Finance, Govt. of India at all India level and State Level Bankers Committees at the state level.
MUDRA, currently with an authorised capital of ` 5,000 crore and a paid up capital of ` 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.
MUDRA’s refinance support has facilitated availability of cheaper funds to lending institutions for expanding their lending up to INR 10 lakh for income generating activities eligible under PMMY. 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 `18.91 lakh crore to 34.93 crore borrower-accounts (as on 31.03.2022). Out of these, 68% borrowers were women, 21% were new loan accounts and 51% were SC/ST/OBC category.
MUDRA has disbursed refinance of INR 53,051 crore till March 31, 2022 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/