Bank of Maharashtra launches MUDRA card in Nashik
Updated: Sep 17, 2015 03:36:25pm
Nashik, Sept 17 (KNN) The Bank of Maharashtra has launched the MUDRA card under the Prime Minister Mudra Scheme, under which loans up to Rs 10 lakh will be disbursed to small entrepreneurs through debit cards at a basic interest rate of 10 per cent.
Speaking about the card, which was launched on Wednesday, Prakash Mohanty, the zonal manager, BoM, Nashik region, said, "We have launched MUDRA debit card under the Pradhan Mantri Mudra Scheme to provide financial assistance to micro and small entrepreneurs to help them meet their working capital requirement.”
He said loans up to Rs 10 lakh will be disbursed through the Mudra debit cards at a basic interest of 10 per cent and there will be no need of security or guarantors for taking the Mudra loan.
They may get the Mudra debit card after filling a single page application as per the format. The micro or small entrepreneurs can utilise the card for meeting working capital requirements, he added.
“The cards can be used at ATMs to withdraw money. Our aim is to reach finance to the needy entrepreneurs to enable them to commence their business. This may be pan stalls or mobile shops," Mohanty said.
There are three slabs for the Mudra debit card scheme. A loan up to Rs 50,000 is to be disbursed under the Shishu loan, while the loan up to Rs 5 lakh is to be disbursed under Kishor loan. The loan up to Rs 10 lakh is to be disbursed to micro and small entrepreneurs under Tarun loan. (KNN Bureau)
Speaking about the card, which was launched on Wednesday, Prakash Mohanty, the zonal manager, BoM, Nashik region, said, "We have launched MUDRA debit card under the Pradhan Mantri Mudra Scheme to provide financial assistance to micro and small entrepreneurs to help them meet their working capital requirement.”
He said loans up to Rs 10 lakh will be disbursed through the Mudra debit cards at a basic interest of 10 per cent and there will be no need of security or guarantors for taking the Mudra loan.
They may get the Mudra debit card after filling a single page application as per the format. The micro or small entrepreneurs can utilise the card for meeting working capital requirements, he added.
“The cards can be used at ATMs to withdraw money. Our aim is to reach finance to the needy entrepreneurs to enable them to commence their business. This may be pan stalls or mobile shops," Mohanty said.
There are three slabs for the Mudra debit card scheme. A loan up to Rs 50,000 is to be disbursed under the Shishu loan, while the loan up to Rs 5 lakh is to be disbursed under Kishor loan. The loan up to Rs 10 lakh is to be disbursed to micro and small entrepreneurs under Tarun loan. (KNN Bureau)
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