Tuesday, Apr 16 2024 | Time 23:01 Hrs(IST)
image
Business EconomyPosted at: Jul 28 2015 8:42PM


Vijaya Bank launches V Mudra Cards

Bengaluru, Jul 28 (UNI) Public Sector Vijaya Bank today launched a new credit product 'V-Mudra Card' under the aegis of ' Pradhan Mantri Mudra Yojana' which will provide pre-approved credit line to the micro entrepreneurs that can be utilized for their day-to- day working capital requirements. The card holders require cash on daily basis to carry out their business by borrowing from the bank at lower interest rate rather than borrow from money lenders at high rate of interest. V-Mudra Card was launched Bengaluru by Dr Kshatrapati Shivaji, IAS, Chairman and Managing Director, SIDBI in the presence of Sri Kishore Sansi, Managing Director and CEO of Vijaya Bank, Sri K R Shenoy and Sri B S Rama Rao, Executive Directors. The product is mainly aimed towards small street vendors, hawkers etc who are generally outside the purview of formal financial The credit limit available under V-Mudra Card is upto Rs 50,000 ('Shishu' category of PMMY). The beneficiary will be issued with RuPay Card with pre-approved credit limit and the drawings are enabled through ATM net work for meeting the immediate liquidity problems of the micro enterprises. The product carries interest rate at Base Rate (10% at present) and is renewable once in three years. Considering the targeted category, a simple one page loan application is designed for this product. The product is also eligible for refinance by MUDRA Ltd., a release said here today. UNI RS VV KSR2039
Please log in to get detailed story.
Tags: #Vijaya Bank launches V Mudra Cards
More News

Airtel delivers best video experience in AP : Open Signal

16 Apr 2024 | 8:54 PM

Visakhapatnam, April 16 (UNI) Open Signal, the independent global standards for network and subscriber insights has awarded Bharti Airtel, the best video experience on 5G network in Andhra Pradesh telecom circle.

see more..

The Sleep opens 8th store in Hyderabad; 75th outlet in India

16 Apr 2024 | 8:50 PM

Hyderabad, Apr 16 (UNI) The Sleep Company, India’s leading comfort-tech brand, on Tuesday announced the opening of its eighth outlet in Hyderabad and 75th store in India.

see more..

CBDT signs 125 APAs in FY24, gives push to ease of doing biz

16 Apr 2024 | 7:58 PM

New Delhi, April 16 (UNI) In a bid to provide investor-friendly tax regime and promote ease of doing business, the Central Board of Direct Taxes (CBDT) signed 125 Advance Pricing Agreements (APAs) with Indian taxpayers in the financial year 2023-24.

see more..

Heritage Foods partner with SIG to package its beverages in aseptic carton packs

16 Apr 2024 | 6:19 PM

Hyderabd Apr 16 (UNI) Heritage Foods Limited, India's second largest private dairy, on Tuesday said it has partnered with SIG to package its beverages in aseptic carton packs.

see more..

Airtel celebrates 5 9 mn 5G customers in TN

16 Apr 2024 | 6:11 PM

Chennai, Apr 16 (UNI) Bharti Airtel (Airtel), one of India’s leading telecommunications service providers, on Tuesday announced that it has 5.9 million customers enjoying 5G service in the state of Tamil Nadu.

see more..
image