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Last updated: 10 Apr, 2018  

Mudra.9.Thmb.jpg Three years of Mudra

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Bikky Khosla | 10 Apr, 2018

In his Budget Speech for Financial Year 2015-16, Finance Minister Arun Jaitley proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs.20,000 crore, and credit guarantee corpus of Rs.3,000 crore. Following this, Prime Minister Modi later launched the bank on April 8, at a function at Vigyan Bhavan in the national capital. Since then, three years have passed, and now we may look back what we have achieved.

On the occasion of completion of three years of the flagship programme’s launch, the Prime Minister last week tweeted that the Mudra Yojana was furthering a spirit of enterprise and self-reliance among youth and women. "...I am delighted to see how Mudra Yojana has brought prosperity in the lives of many," he said and also invited the beneficiaries of the scheme to share their success stories, adding that he would meet some of them at his official residence on April 11.

According to latest available data, 3,48,80,924 Mudra accounts have been opened in 2015-16, 3,97,01,047 in 2016-17 and 3,69,03,984 in 2017-18. The sanctioned amounts in these three years stand at Rs 1,37,449.27 crore, Rs 1,80,528.5 crore and Rs 1,81,901.12 crore, respectively. The figures look good. Additionally, it is encouraging to see the steps taken under the scheme over these years, such as intensive publicity campaigns, simplification of application forms, Credit Guarantee Scheme, refinance from MUDRA Ltd, weekly video conferences to monitor the progress, etc.

In 2013, the NSSO survey found that India has 5.77 crore small business units, mostly individual proprietorships, which run small manufacturing, trading or services activities. Most of these enterprises are owned by people belonging to Scheduled Caste, Scheduled Tribe or Other Backward Classes. Only 4% of such units get institutional finance. To address this concern, the Mudra scheme has been designed, and the results seem positive, as reflected by official figures.

I invite your opinions.

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pradip s.shelke 8888113164 | Sat Jun 30 07:54:18 2018
respected sir ,iam live in buldhana dis.of maharastra.ihave apply for mudra lone but,no any nationalise bank accept my propasl.

Three years of Mudra
Gopikrishna K S | Mon Apr 23 16:49:01 2018
at least you could have mentioned the one person behind this huge achievement, Mr Jiji Mammen, who has quietly completed this challenging task set for him and returned to his parent organisation NABARD

export growth
VINOD VERMA | Tue Apr 17 21:00:58 2018
from the slogan of 1960's "EXPORT OR PERISH, WE TODAY HAVE IS "EXPORT AND PERISH". The bogus importers abroad have increased many folds taking the new exporters for a ride easily and ripping them of their hard earned money, with no visible help from our Overseas consulates, Banks and /or EGCGC Ltd., The bank finance for exports is available to the few influential exporters and the rest have to do with their own resources, even the Banks' seek ECGC cover on individual, buyer while sanctioning limits to even MSME exporters.Thus adding to their cost, unnecessarily. As of todate, the claim settling by ECGC is at the lwoest ebb, taking one year to three years to settle even a genuine claim, (no doubt bogus exporters/fly by night operators and their payments/claim) settlements with weeks or 2-3 months. the biggest hurdle that has cropped up in the last year is GST refund to exporters. The payments of GST made in July 2017 onwards are still; pending, and the exporters are being made to pay interest on pending refunds. Ther Govt. of India must ensure the Central GST and and State GST refunds of the exporters are carried out within 30 days invariably to help the exports grow, like wise the ECGC claims also, must get settled in 60 days or else ECGC should be made to pay interest to the exporter at the same rate at which they have borrowed money from the bank. the Banks and ECGC should be there to help the exporters and not to harass the exporters.

Mudra applicants are taken for a ride
TDS Sundharam | Fri Apr 13 06:34:59 2018
The criteria to avail Mudra loan is being flouted by the Banks with their own terms depriving the applicants applying for the Mudra Loan My friend Sam Paul who has a water Plant (Living Water-Jeeva Jalam)@ Gabbilalpet-Jawaharnagar Hyderabad with his Banking at SBH of the same area, the manger behaved indifferently denying the loan

Dharanidharan | Wed Apr 11 13:19:59 2018
Amidst all inconvenience by demonetization. And digital currency some how we are able to survive and generate some employment the all tax exemption maybe extend for some more years Thanks

Mudra artical
Mehul Solanki | Wed Apr 11 12:15:09 2018
How can i get benifits of the mudra? I want breifly explaination please help me, to explain it, my mobile no is 09722950888 and my email id is please send me more detail about MUDRA YOJANA & how to apply in this yojana, I have small scale business, i want to grow it then is it possible throught The Mudra???

Mathew | Wed Apr 11 09:20:59 2018
Dear sir there is no such a scheme running in kerala state.Why is it so our banking sectors has no ideas of this scheme .Please help us regard this.

last year analysis by Aparana IYER
Sai Dhekane | Wed Apr 11 07:42:53 2018
In fact, there are very few takers for the refinance schemes as well. In FY16, Mudra extended refinance worth about Rs3,000 crore to banks, which is chump change compared to the micro and small loan portfolio of the lenders. Refinance details for the current year are not available publicly yet. The share of small and micro loans in total credit to industry has reduced to 12.55% this year (FY17) from 13.33% in FY15. The reason the scheme has shown a growth of 15.04% in total disbursals even though banks have not lent more is that loans given by microfinance institutions (MFIs) are also included under the scheme. In fact, almost 35% of the loans disbursed so far this year are done by MFIs. Refinance extended by Mudra to MFIs was Rs616 crore in FY16 against the total loan disbursals of Rs61,860 crore of the industry at that time. The main business of an MFI is micro loans and this sector has been growing by leaps and bounds. In FY16, the gross loan portfolio of MFIs grew a massive 84%, while at the end of the December 2016 quarter, the year-on-year growth in the loan book stood at 53%. The sheer growth of the MFI industry would no doubt boost Mudra’s numbers but one look at the lukewarm response to its refinance schemes by both micro lenders and banks shows that Mudra is losing ground.

I couldn’t get the mudra loan
Anil lalwani | Wed Apr 11 07:34:13 2018
Would like to mention that HDFC and ICICI flatly refused to give such kind of loan though they published the same on website . Even state bank of bikanair and Jaipur where I have my PPF account did not give me loan - just chose not to respond to calls and emails .

Plz do reality check
babu | Wed Apr 11 06:35:46 2018
sir.. in a city like Bangalore I visited more than 9 banks and they just refuse to give the mudra application and talk about it .. they look at mudra loan seeking people very differently then i researched i found all is in hands of brokers and crooks nexus .. and many take mudra application and give personal load and show it as mudra .. and many such things .. very very sad state of thing in reality

Mudra The Great game changer
SUBHASHIS CHAKRABORTY | Wed Apr 11 05:20:38 2018
Dear Sir To begin with I want to congratulate the Prime Minister to launch this scheme for the scores of unemployed Indian and provide them a chance to be in charge of their destiny. Your figures are quite impressive and in corporate culture we call it year on year growth and that's too organic. But do you have any first hand experience of it's implementation or the implementers (which are mostly public sector banks and their Five star Bank Managers). Do you have any idea how they treat them? If my understanding is correct then it is doesn't require any collateral but when you approach for the loan they ask for the balance sheet for last three years, Current Account Number , Trade license and so on. Now imagine yourself as one of those people and rest is self explanatory. Where as their are agents who are bold enough to call or send bulk sms and they claim that they will arrange for the loan on a fixed commission and an advance payment which they claim is required to prepare project reports from Rs 50000/ to Rs 50 lac. I do agree that this peoples are cheaters and they are cheating peoples in the name of Mudra loan and this happens only due to the lack of support from the banks for this project. Some NBFC also advertises POS loan also as a part Mudra loan.Their is a huge confusion about the correct eligibility status for availing the loan and what are the criteria for getting higher amount of loans. Does previous job experience in a particular field helps in getting it

Grievance of some banker staff
Harish Mishra (7838986953) | Wed Apr 11 05:02:54 2018
Dear Sir/Madam, we have take Mudra Loan from SBI Bank and am also paying to actual EMI to bank I want to know can i change the our EMI date and EMI amount because of we are facing some problem. we have also visit to our SBI bank but banker give threatening.why because am never say am not able to pay Loan am alos continue pay EMI . that is my Comment kindly consider on comment

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