A general refinance agreement (GRA) has been signed between IDBI Bank and Micro Units Development and Refinance Agency Ltd (MUDRA).
IDBI Bank is one of the leading banks identified by MUDRA as lender eligible for refinance scheme.
As per the agreement, IDBI Bank will offer credit facilities upto ₹ 10 lakh to micro enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY).
MUDRA will be providing refinance assistance to IDBI Bank for eligible sanctioned loan cases.
The agreement was signed on July 1 by S.K.V.Srinivasan, Executive Director, IDBI Bank and Jiji Mammen, CEO, MUDRA.