Karnataka Bank is targeting ₹615 crore of MUDRA loans for the current financial year, according to P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank.
Launching the MUDRA (Micro Units Development and Refinance Agency) card in Mangaluru recently, he said that Karnataka Bank is actively participating in the Pradhan Mantri Mudra Yojana (PMMY) scheme.
To further ease credit dissemination, the bank has launched MUDRA card. He said that MUDRA card, which can be used on the RuPay platform, will be issued to micro-entrepreneurs who take working capital finance up to ₹10 lakh under PMMY.