"As per the agreement, the Bank will offer credit facilities up to Rs 10 lakh to micro enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY) and Mudra will be providing refinance assistance to the bank for eligible sanctioned loan cases," IDBI Bank said in a release.
The refinance scheme will be implemented through all the branches of the lender.
The agreement was signed on July 1 by IDBI Bank Executive Director S K V Srinivasan and Mudra Bank CEO Jiji Mammen.
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