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Micro Unit Development and Refinance Agency Ltd (MUDRA) has been launched by Hon‟ble Prime Minister on 8th April 2015 as a new financial entity, for developing and refinancing as last mile financial intermediaries, like, Banks, NBFCs, Micro Financial Institution (MFI) etc. who are in the business of lending to even the smallest of the Micro Enterprises in manufacturing, trading and service sector. The definition of micro unit for the purposes of MUDRA's activities should not be linked with MSME or any other Act. This segment mainly consists of Non-Farm Enterprises in manufacturing; trading and services whose credit needs are up-to Rs.10Lakh.

For supporting to the scheme & as directed by Govt. of India “ Prime Ministers Mudra Yojna (MUDRA)” PMMY was activated in Central Bank of India w.e.f. 08.04.2015.

Micro units of Individuals / Proprietorship / Partnership firms & Company running as Small Manufacturing Units, Professionals and Service Providers Units eligible to be covered under Prime Minister‟s MUDRA YOJNA (PMMY) are eligible to be covered under Prime Minister‟s MUDRA YOJNA (PMMY) in Rural and Urban areas with financing requirements of up-to Rs.10 lakh.

The position of Pradhan Mantri Mudra Yojana (PMMY) sanctioned by our Bank, year wise, under all the three categories since inception of the scheme is placed here below :

Any person of India can avail Mudra loan by applying online on udyamimitra.in portal by selecting nearest branch suitable to him and also visit the nearest branch for manual submission of the related papers of the project. No collateral security or any guarantor is required for availing loan under Mudra scheme. Application form is available on Bank’s site.

Following are few success stories of borrowers along with the photographs:

Unit Details
Name of the borrower & address: M/s MALSAWM HANDLOOM, ZOTLANG, AIZAWL.
Date of Sanction of the Loan : 25/02/2016

Details of the Unit :

The unit is involved mainly in sales of handloom items. Mizoram, being a state mainly populated with Mizo tribes, production of handloom materials through manual traditional weaving method is widely popular. So, there is huge production of handloom clothes and fabrics across the state, however there is a gap of displaying the products to the common public in both local market and to other states. So, Malsawm Handloom is mainly focused on bridging the gap between the producer and consumer. The unit collects the product both from their own manufacturing unit and also from the small scale producers and supply the products to the market. The main motif of this unit is to provide a platform for reaching out to the market.
The borrower is maintaining the nature of transaction in the Cash Credit Account bearing no, 3523123449, in a satisfactory nature. They are performing transaction in daily basis, pertaining to a total turnover of Rs. 12002448.00 (One Crore Twenty Lakhs Two Thousand Four Hundred and Forty eight only) for the year 2016-17. The unit apart from generating income and sales, they are also providing employment to few people. As of now, they are employing 4 workers, who are very much active and perform the duties allotted to them in a positive nature.
As being confirmed form the borrower, generally the monthly sales and profit varies with the season, and also with the basis of festival nature. In normal days, they use to have monthly Net profit of approximately Rs.120000.00 (Rupees One Lakh Twenty Thousand Only). But during festive seasons, the Net profit use to raise upto Rs. 350000.00 (Rupees Three Lakh Fifty Thousand only).

Why it is a success Story :

In every sector of entrepreneurship, there arises a requirement of capital expenditure, even though presence of a good business idea is with the person. With the introduction of the Pradhan Mantri Mudra Yojna, there was a hope for easy financial assistance from the banks. Just in the same way, there was shortage of capital expenditure for the establishment of the unit, M/s Malsawm Handloom. But, by availing the financial assistance from the bank, Central Bank of India, Aizawl Branch, they were given an opportunity to establish their own unit by making up their dreams of their own entrepreneur firm. At the beginning, there were some difficulties in achieving the sales and profit, due to less connection base with the consumers. But with the passing time, they started making a relationship with the consumers, thereby generating a base of connection, which gave a major pathway for making up with the business.
As of the present scenario, M/s Malsawm Handloom, is running their business in a satisfactory nature, generating minimum net profit of approximately Rs. 120000.00. And also if it is a festive season, they use to raise their net profit upto Rs. 350000.00 monthly. Apart from generating income and profits, this unit is also playing a delivery channel for the produces form the local mortar pestle units, giving them a chance to deliver out their products. This small unit is also giving employment to 4 persons, which is small in number, yet highly valued for the concern individual.
The sales and performance of their business is mainly mirrored in their nature of transaction at the bank level, making upto an annual turnover of Rs 12002448.00 (Rupees One crore Twenty Lakhs Two Thousand Four Hundred and Forty Eight only). And also, they are performing their transaction on daily basis, thereby maintaining a good relation with the bank. Pertaining to the achievements and performance of the unit, they have somehow achieve their dreams and gained a prestige in the society.
Key Success Factors: Hard work and Concentration towards the goal.

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