Bank of Maharashtra launches Mudra Card on its foundation day

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NewZNew (Chandigarh) : Mr. M.C. Kulkarni, General Manager, Bank of Maharashtra, launched the bank’s Mudra Card under the Pradhan Mantri Mudra (Micro Units Development and Refinancing Agency Ltd) Yojna on the occasion of the 81st foundation day of the bank in its zonal office on Wednesday.

Bank of Maharashtra

Through this scheme the bank is extending credit to the smaller and micro enterprises under manufacturing, trading and services sector whose credit needs are below Rs 10 lakhs. Loans given to this segment for income generation will be known as Mudra Loans.

Giving details of the mudra card, bank zonal manager Mr. Harish Gupta said

the classification of accounts covered under the scheme are ‘Shishu’ for loans upto Rs 50,000, ‘Kishore’ for loans from Rs 50,001 to Rs 5 lakh and ‘Tarun’ for loans above Rs. 5 lakh upto Rs 10 lakh.

The bank also arranged a customer meet in the evening to celebrate its foundation day with the theme “bonding with our customers”. Interacting with the bank’s customers general manager M.C. Kulkarni shared with them the banks latest IT initiatives and other banking products which were highly customer friendly.