MUDRA stands for Micro Units Development and Refinance Agency Limited. Scheduled Co-operatives Banks, Regional Rural Banks and Commercial banks are allowed by MUDRA to easily refinance loan amounts up to Rs 10 lakhs per unit.
C S Sudheer, the CEO and founder of IndianMoney.com, in this video, has spoken about MUDRA loans which are offered under the Pradhan Mantri Mudra Yojana (PMMY). The scheme was introduced on 8th April 2015.
As of the financial year 2017-18, the scheme has sanctioned over 4 crore loans, sanctioned more than Rs 2.5 Lakh crore and disbursed over Rs 2.4 Lakh crore. There are 3 products under Pradhan Mantri Mudra Loan: Shishu, Kishor and Tarun. Thanks for watching the video. Stay tuned for more interesting videos from the CEO of IndianMoney.com.