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Karnataka Bank launches MUDRA card under Pradhan Mantri Mudra Yojana

Posted On: 2015-08-31 20:16:30 (Time Zone: IST)


Micro entrepreneurs are the important segment of MSME sector and Karnataka Bank is always committed to meet the credit requirement of this sector. To give more focus on micro loans, bank is actively participating under Pradhan Mantri Mudra Yojana (PMMY) and targeting a portfolio of Rs. 615 crore of MUDRA loans for the current year.

To further ease the credit dissemination Bank has launched MUDRA Card which will benefit large number of micro entrepreneurs in the Country. MUDRA Card is a debit card on RuPay platform, cobranded with MUDRA. The card will be issued to the Micro entrepreneurs, who avail working capital finance up to Rs. 10.00lakh under PMMY.

"The card has the flexibility of use in any ATMs or point of sale for purchase of merchandise", said Shri P Jayarama Bhat Managing Director & CEO of the Bank during the launching ceremony of MUDRA card held at Head Office of the Bank at Mangaluru, on 29th August 2015.

The General Managers and other Officials of the Bank were present during the launching ceremony.

Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.126.65 as compared to the previous close of Rs. 124.3. The total number of shares traded during the day was 101333 in over 1248 trades.

The stock hit an intraday high of Rs. 128.25 and intraday low of 123. The net turnover during the day was Rs. 12828065.


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