Feature Post

UFBU Calls Off Nationwide Bank Strike on 24th and 25th Mar 2025 After Assurances from Finance Ministry and IBA

I n a significant development on March 21, 2025, the United Forum of Bank Unions (UFBU) has decided to call off their two-day nationwide strike, which was originally planned for March 24 and 25. This decision was made after the UFBU received positive reassurances from both the Finance Ministry and the Indian Banks’ Association (IBA) regarding their key demands. The banking unions, under the umbrella body of UFBU, represent employees from nine major unions across the country, including AIBEA, AIBOC, NCBE, AIBOA, and BEFI. The unions had earlier called for the nationwide strike to protest against several ongoing issues that they believe impact the welfare and job security of bank employees. Key Issues Behind the Proposed Strike The strike was initially called by UFBU to address a range of pressing concerns, some of which have been lingering for years. The union's main demands included: Five-Day Workweek for Bank Employees:  One of the most anticipated demands was the implementation o...
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PRADHAN MANTRI MUDRA YOJANA (PMMY)


Micro Units Development Refinance Agency (MUDRA) was proposed by the Union Finance Minister in the Budget 2015-16 and it was created with corpus of 20000/- crore and Credit Guarantee corpus of 3000/- crore. The purpose of MUDRA bank is regulating and refinancing all Micro-Finance Institutions (MFIs) which are in business of lending to Micro or Small business entities involved in Manufacturing, Services, Retail and Agri. Allied Activities through Pradhan Mantri MUDRA Yojana (PMMY).

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme that has been launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY). These loans are given by Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, Cooperative Banks, Micro-Finance Institutions (MFIs) and Non-Banking Finance Companies (NBFCs). 

MUDRA has been established with mission "To create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security" to fulfill the vision of comprehensive economic and social development of bottom of the pyramid universe. 

MUDRA do not lend directly to the micro entrepreneurs / individuals. The borrower can approach any of the lending institutions mentioned above or can apply online through the mudra mitra portal https://www.mudramitra.in/ . Official website of MUDRA is https://www.mudra.org.in.

Under PMMY, there are three categories of Products named as below



1. Shishu - It covers loan upto 50000/- (Fifty Thousands)
2. Kishore - It covers loan above 50000/- (Fifty Thousand) and up to 500000/- (5 Lakh)
3. Tarun - It overs loan above 500000/-  (5 Lakh) and up to 1000000/- (10 Lakh)

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