Monday, April 19, 2021
Home Uncategorized Prime Minister Narendra Modi to launch MUDRA bank tomorrow

Prime Minister Narendra Modi to launch MUDRA bank tomorrow

10306638_485763178221058_6426559976863570452_n

By Newsgram Staff Writer

The Prime Minister Narendra Modi will launch the Micro Units Development and Refinance Agency Ltd. (MUDRA)  bank tomorrow at Vigyan Bhavan which will benefit 5.77 crore small business units.

Earlier, the Union Finance Minister Arun Jaitley in his Budget Speech said, “The creation of a Micro Units Development Refinance Agency (MUDRA) Bank, will be completed with a corpus of Rs.20,000 crore, and credit guarantee corpus of Rs.3,000 crore.”

“MUDRA, to be set up through a statutory enactment, would be responsible for developing Micro-Finance Institutions (MFIs) which are in the business of lending to small business entities engaged in manufacturing, trading and service activities. It would also partner with state/regional level coordinators to provide finance to last mile financiers of small business enterprises,” he added.

The roles for MUDRA bank would include laying down policy guidelines for micro enterprise financing business, registration of MFI entities, accreditation of MFI entities.

STAY CONNECTED

19,517FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

How The Pandemic Has Changed Working And Learning In India

As India grapples with the second Covid wave amid a seismic shift in the way people work and learn, this year and beyond will...

Can Ayurveda Be Tapped To Fight Covid-19 virus? : Study

Even though Covid-19 vaccination is in full swing, the pandemic continues to affect a huge population, severely affecting the country's economic and social fabric....

What Is The Significance Of World Heritage Day 2021?

April 18 is observed as World Heritage Day or the International Day for Monuments and Sites. Proposed by the International Council on Monuments and...

New Self Cleaning Material To Aid Reuse Of Face Masks, PPE

Researchers at the Indian Institute of Technology Mandi have developed a novel virus-filtering, self-cleaning and antibacterial material that can be used to make and...

Regardless Of Ethnic Influences, Jewish Food Adheres To A Strict Dietary Code

When a community decreases in numbers, its traditional food becomes a memory and it is to ensure that this memory prevails that award-winning author...

Is Congress Willing To Open Its Doors For Cherian Phillip?

At one point of time in Kerala in the late eighties and nineties and till he left the Congress in a huff in 2001,...

In The Last 12 Months, 1 In Every 2 Indian Adults Was A Victim Of Cybercrime

More than one in two Indian adults (59 percent) experienced cybercrime in the last 12 months, as seven in 10 Indian adults (among those...

Here Are Some Ideas To Make Your Flooring Look More Appealing

Before finalizing the design of the flooring of your home, keep in mind some aspects such as textures, material, and finish. Decorating the floors...

Recent Comments