Prime minister of India Shree Narendra Modi has launched Pradhanmantri Mudra Yojna on 8th April 2015 for give financial loan to small scale businessman. Full form of ‘MUDRA’ is “Micro Units Development & Refinance Agency”.
Under this scheme, all banks will issue MUDRA card as credit card. Any person who want establish a small scale business can take MUDRA card from any Government bank.
There are three types of MUDRA card.
(1) For Micro finance – If any person is completely unemployed and he have not any business then bank will provide ‘Shishu MUDRA card’ without any proof of your income or guarnter. By this MUDRA card he can withdraw of Rs. 50,000 maximum. The interest will be charged on taken amount only. If he withdraws Rs. 20,000 by his MUDRA card then interest will be on Rs. 20,000 only. He can withdraw rest 30,000 anytime as his need.
(2) For Medium Finance – If any person have a small business and wants increase his business, then he can take ‘Yuva MUDRA card. By this card he can withdraw Rs. 5,00,000 maximum. The interest will be charged on withdrawn amount only.
(3) For Big Finance – If any person have a middle type of business and wants increase his business then he can take ‘Mature MUDRA card’. By this card he can withdraw Rs. 10,00,000 maximum. The interest will be charged on withdrawn amount only.