For Mudra loan, do I need to deposit any collateral ?






Kevin Kevin
Answered on March 25,2019

As per the recommendations of the Working Group constituted by RBI for reviewing the Credit Guarantee Schemes for Micro Small Enterprises and accepted by RBI, Banks have been mandated not to insist for collateral security in the case of loans upto  10 lakh extended to the units in the Micro Small Enterprises sector.