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Kolkata-based Allahabad Bank has launched the Mudra card, a specialised card for loans under the Pradhan Mantri Mudra Yojana (PMMY). The card was launched by the bank’s Chairman and Managing Director, Rakesh Sethi, on July 17. According to a release by the public sector lender, the Mudra card will be issued for utilisation of working capital limits. It will be extended (by Allahabad Bank) to non-farm enterprises for income-generating activities in the manufacturing and services sectors. The loan limit has been fixed at a maximum of up to ₹10 lakh.
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