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Relief for MSMEs: MUDRA promotion drive to start from Sep 27
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SME Times News Bureau | 26 Sep, 2017
In order to address the issue of credit crunch in the micro, small and medium enterprise (MSME) sector, the government on Monday said it will hold pan-India Mudra promotion campaigns from September 27 to October 17.
A total of 50 campaigns will be organised by the Department of Financial Services (DFS) under the Ministry of Finance.
"The campaign will start on September 27 at Varanasi in Uttar Pradesh, where Union Minister for Railway and Coal Piyush Goyal will participate. Union Minister for Road Transport and Highways Nitin Gadkari will participate in another function on October 2 at Gandhinagar in Gujarat," the ministry said in a statement.
The lending target under the Pradhan Mantri Mudra Yojana for 2017-18 has been fixed at Rs 244,000 crore, which is double of that in 2015-16.
Finance Minister Arun Jaitley had earlier said the scheme made a significant contribution to the funding of the unfunded and the under-funded.
According to him, priority in lending will be given to Dalits, tribals, backward classes, minorities and women.
As part of the Mudra promotion campaigns, on October 2, functions will be held in Dehradun and Guwahati, where Ajay Tamta, Union Minister of State for Textiles, and Rajen Gohain, Minister for State for Railways, respectively, will take part, the statement said.
There will be three events in different parts of the country on October 3.
"One campaign will be held in Vijaywada in Andhra Pradesh where Union Minister for Minority Affairs Mukhtar Abbas Naqvi will be present. In Raipur in Chhattisgarh, Vishnu Deo Sai, Minister of State for Steel, will participate in one function while Jaswantsinh Sumanbhai Bhabhor, Minister of State for Tribal Affairs, will participate in the event at Agartala in Tripura," it said.
State-Level Banking Committees (SLBC) of different states will participate and coordinate all these campaigns.
Mudra promotion campaigns will be held at various places like Patna, Shimla, Chandigarh, Chennai, Srinagar, Indore, Ludhiana, Meerut, Jodhpur, Bhubaneswar, Hyderabad, Bengaluru, Lucknow, Daman, Nagpur, Panaji, Rajkot, Shillong, Bhopal, Kavaratti, Kolkata, Silvasa, Mumbai, Muzaffarpur, Aizawl, Salem, Hubli, Thiruvananthapuram, Puducherry, Jaipur, Ranchi, New Delhi, Faridabad, Gorakhpur, Jammu, Jamnagar, Mangalore, Gangtok, Pune, Imphal, Kohima, Port Blair and Itanagar.
The objective Mudra scheme is to fund and promote microfinance institutions, which would in turn provide loans to micro and small businesses. It is expected that 5.77 crore small business units in the country will benefit from this scheme, which in turn will bring a sea change into the economy and the business ecosystem in the country.
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Mudra funding for MSME Units
Venugopal | Wed Oct 11 11:15:45 2017
We are having a MSME Unit in Ernakulam, Kerala for producing food products primarily for export and a small portion for local selling. Ours is a registered MSME having FSSAI certificate, GST certificate, Export Licence etc. We have applied for ISO 22000/HACCP registration which is in progress. Can we get some funding through Mudra or some other schemes for machinery purchase, ISO certification expenses etc. Kindly let us know the correct Authority to be contacted in Kerala for this purpose. We will highly appreciate your help in the matter. My email id: info@starheritageproducts.com - Mobile: 09447664230
Incentivise all SME projects that are expanded in last 6 months
Bhagawath Prasad | Wed Oct 4 03:09:38 2017
In anticipation of expected growth in the many sectors , SMEs have already takenup augmented their production by investing crores of their own money ,thereby money supposed to have gone for expenses went into expansion , eventually it has lead to short-fall of working capital , banks have been cautious for not funding these stressed-out accounts by simply dodging with excuse of 3 bounced instalments , unpaid tax dues etc...it's critical to allocate funds for 100% funding of those they have expanded , else bring out policy to fund short-term working capital for two years with only interest payable monthly.these measures are critical for growth.
Mudra promotion for MSME's relief.
Gholam Mohammad | Sun Oct 1 05:18:00 2017
Mudra scheme launched earlier but relief to MSME's as desired could not achieved, this time try to fulfil the need of MSME's accordingly. Thanks.
All schemes as well as Mudra is failed .
Shailesh sheorey | Thu Sep 28 01:32:05 2017
This is shear BAKWAS when it is on banks discretion it doesn't give loan unless any mortgage .If given target they give loan of small amount only to achieve target of no of cases. This is bullshit. Absolute bullshit . Shailesh sheorey
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Re: All schemes as well as Mudra is failed .
nallan.hydrous | Wed Oct 4 09:23:59 2017
Absolutely correct the bank totally against the Indian people aswellas central government mudra failed MSME scheme failed farmers dead flood drought money changes compared to the black and white money very much cheap only just carried our priminister make in India make the people comedy scenes GDP fall down Indian government bank fall down soon please save our country save india
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