Micro Units Development & Refinance Agency Ltd. (MUDRA) is a new initiative by the government of India which allows financing to the non-corporate, non-farm small/micro enterprises for up to Rs.10 Lakhs. Pinnacle has a range of products under this scheme
The scheme is implemented by KVIC functioning as the nodal agency at the national level and it routes government subsidy through designated banks for eventual disbursal to the beneficiaries/ entrepreneurs directly into their bank accounts. Only new projects are considered for sanction under PMEGP. Self Help Groups, Institutions registered under SRA, 1860, Charitable Trusts are also eligible.
Under the Stand-up India scheme, banks provide loans to Scheduled Caste (SC), Scheduled Tribe (ST) or women customers for an amount between 10 lakh and 1 crore. In case of non-individual entities, 51% controlling stake must be held by someone who is an SC/ST or a woman.
Credit Guarantee Trust Fund for Micro and Small Enterprises (CGTMSE) is an MSME loan scheme under which micro and small scale industries can claim collateral-free loans for up to Rs.2 Crores.