IMPHAL, September 14: Prime Minister Narendra Modi had formally launched the Pradhan Mantri Micro Units Development and Re-Finance Agency Bank (MUDRA Bank), a public sector financial institution on April 8, Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti told media persons today.
Jyoti also announced that her ministry is willing to provide a mega food park in Manipur at the earliest once the State government allot the land required.
She was speaking at a press conference called at the office of the BJP Manipur Pradesh here today.
MUDRA was initially announced in the 2015 Union Budget and launched in April, she said.
Explaining the working of the banks, she said the MUDRA banks will be set up under the Pradhan Mantri Mudra Yojana and will provide its services to small entrepreneurs outside the service area of regular banks, by using last mile agents.
About 5.77 crore small business have been identified as target clients using the NSSO survey of 2013, she added.
The MoS also said that such scheme is the first of its kind and will give opportunity to many especially youth and women by providing loans to micro units based on the stage of growth under three categories – Shishu (loans up to Rs 50,000/-), Kishore (loans up to Rs 5,00,000/-) and Tarun (loans up to Rs 10,00,000/-).
She said only 4 percent of these businesses get finance from regular banks.
The MUDRA will also ensure that its clients do not fall in debt and will lend responsibly, she added.
Availing loans will not require any guarantor from the poor persons, but will require a detail report on the establishment of the units, Jyoti added.
She said in this connection, five SBI units and four UBI units in the State have already been instructed to visit villages and conduct a survey to provide the schemes to the needy people.
Meanwhile, prior to the press conference, Sadhvi Niranjan Jyoti had visited the Nilakuthi Food Park, Takyel Industrial Estate and the Trade cum Permanent Exhibition Centre presently under construction at Lamboi Khongnangkhong and attended a State-level interactive programme on MUDRA Bank at the party`™s office.
She said she had met the concern minister of the State and the chief secretary at the Old Secretariat.
Jyoti continued her minister is willing to provide a mega food park in Manipur at the earliest once the State government allot the land required
She continued, her ministry has taken up 33 skill development training programmes in 13 States.
The press meet was also attended by BJP North East in-charge Prahlad Singh Patel MP and BJP State unit president Th Chaoba among other State representatives of the party.
Meanwhile, in a statement BJP Mahila Morcha Manipur Pradesh general secretary Organisation Laishram Boby said after an interaction with the MoS, they came to know of the scheme and attacked the State government for not highlighting the new scheme before the public.