BoI, CSC ink pact for Mudra loans to CSC operators

CSC e-Governance Services India today said it has inked a Memorandum of Understanding with Bank of India which would allow operators of Common Services Centers (CSCs) to avail 'Mudra loans' for sprucing up their IT infrastructure.
"The facility by BoI will allow village level Entrepreneurs who operate the CSCs, to enhance their existing infrastructure, invest in computers and other equipments. In turn, it will help promote digital literacy in the country as CSCs offer a host of services," Dinesh Kumar Tyagi, CEO, CSC e-Governance Services India told PTI.
There are close to two lakh CSCs in India offering services ranging from financial inclusion to enrolment for Aadhaar and education services.

"We have sent similar proposals to other banks also," Tyagi added.
Last year, 3.5 crore beneficiaries availed Rs 1.22 lakh crore loans under Pradhan Mantri Mudra Yojana (PMMY). Under PMMY, collateral-free loans ranging from Rs 50,000 to Rs 10 lakh are provided to small entrepreneurs.
As of now, three products available under PMMY are Shishu, Kishor and Tarun, to signify the stage of growth and funding needs of the beneficiary micro unit or entrepreneur.
Common Services Centers, Tyagi said, have emerged as the single largest UIDAI Registrar in the country this year.
"We account for nearly 45 per cent of the registration done daily," he pointed out.