PM Modi launched Mudra Bank on 8 April 2015. The reason to launch this mudra bank was to provide easy loan to small scale, medium scale business organizations in India. Mudra standard for Micro Units Development and Refinance Agency. This Mudra bank was launched under Pradhan Mantri Mudra Yojana. In this Mudra Yojana there is facility of Mudra card provided to the customers. From this Mudra bank anyone can get easy loan upto 10 lakh. The main advantages of this Mudra loan is that there is no need to keep collateral to get the loan, very easy loan getting process, Low Interest rate. The Mudra card which is provided from the mudra bank under Pradhan Mantri Mudra Yojana has many advantages.
10 Advantages of Mudra card are listed below:
- Mudra cards are available in all India banks under Pradhan Mantri Mudra Yojana.
- The process to get the mudra card is very easy and simple one.
- By the help of Mudra card you have a facility of overdraft, the overdraft limit is 20,000 Rupees.
- Mudra card is a debit card which works on the platform of Rupay Platform.
- You can use mudra card at any ATM machine to withdraw cash.
- To withdraw cash you can use mudra card at POSE machine-Commerce.
- The loan which you got from mudra bank has very flexible loan repayment facility.
- You can get easy cash upto 20,000 Rupees at any instant of time for the smooth working of your business.
- The loan upto 10,00,000 Rupees will be paid through Mudra card.
- The loan which you get through mudra card is divided into three categories. Those categories is listed below:
- Shishu Loan: Under shishu scheme in mudra bank you can get a loan upto 50,000 Rupees.
- Kishore Loan: Under Kishore scheme in mudra bank you can get a loan upto 5, 00,000 Rupees.
- Tarun Loan: Under Tarun scheme in mudra bank you can get a loan upto 10,00,000 Rupees.