Bank of Baroda launched “Baroda MUDRA Card”

                                                                                         स्‍थान/Place: Mumbai                                                                      तारीख/ Date: 23.09.2015

Shri Ranjan Dhawan, Executive Director (right), Bank of Baroda  & Shri S. Sridharan, General Manager, MSME (left), Bank of Baroda seen launching “Baroda MUDRA Card”.  

Bank of Baroda launched “Baroda MUDRA Card” at the hands of Shri Ranjan Dhawan, Executive Director. “Baroda MUDRA CARD” may be utilized as Debit card for withdrawals from cash credit / overdraft account at ATM / POS.

Pradhan Mantri Mudra Yojana (PMMY) was launched by GOI on 8th April, 2015 by the Hon’ble Prime Minister to “fund the unfunded”. This scheme aims at Nonfarm enterprises in manufacturing, trading and services, whose credit needs are up to Rs.10.00 lacs. These MUDRA Loans are divided into three segments as: a) upto Rs. 50000 – named as SHISHU      b) Rs.50001 to Rs.5.00 lacs – named as KISHORE c) Rs.5.00 lacs to Rs.10.00 lacs – named as TARUN.

“Baroda MUDRA Card” will be issued to all the categories of PMMY borrowers i.e. ‘SHISHU’, ‘KISHORE’ and ‘TARUN’ enjoying working capital facilities from the bank under the MUDRA Loans. Bank of Baroda has waived processing charges on all facilities sanctioned under “MUDRA” category. Further, the Bank does not obtain collateral securities for MUDRA Loans.