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There are different types of interest rates for different types of loans, principally this interest charge per unit is 12%.
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Which is the main objective of MUDRA Bank?
Under the scheme, Mudra Bank will establish which provide Loan at low rates to a microfinance institution (MFI) which then provide credit to (MSME). The main objective of this mission is to provide loans up to 10 lakh to micro enterprises, which were 5.77 crores in number (NSSO survey 2013).
Who was the Prime Minister when mudra was launched?
On 8th April 2015, Prime Minister Narendra Modi launched this Micro unit development and refinance agency (MUDRA) scheme in order to uplift a small business and entrepreneurs of MSME (Micro Small Medium Enterprises).
Last Update: Oct 2021
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