GUWAHATI, May 18 � The Assam Chamber of Commerce (ACC), which is affiliated to the Confederation of All India Traders (CAIT), on Sunday organised an interactive session here on various aspects of Micro Units Development Refinance Agency (MUDRA) Bank in the presence CAIT president BC Bharatiya.
�In most cases across the nation, small entrepreneurs with micro businesses don�t have access to banks, insurance, credit, loans and various other forms of financial instruments to help their business and they take loan from the unorganised sector with higher interest. The MUDRA Bank was set up to simplify the refinancing and banking process for small entrepreneurs living in rural and interior areas.�
The MUDRA Bank�s principal objective is to extend finance and credit support to all micro financing institutions and agencies that lend money to small businesses, retailers, self-help groups and individuals.
Explaining the objective of this initiative, BC Bharatiya said that the MUDRA Banks will be set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks. �Depending on the duration of the business, individuals can get loans up to Rs 10 lakh,� he said.
He also discussed about the Goods and Service Tax (GST) process in detail and its subsequent benefit to the traders community. It is worth mentioning that CAIT is the apex body of the traders� community which constantly raises concern about small entrepreneurs.
ACC convenor Rupam Goswami appealed to all traders to avail the benefits of the new concept.
