Will disburse over Rs 1000 cr within a week or two: Mudra

Mudra, the organisation tasked with banking the largely unbanked Micro, Small and Medium Enterprise (MSME) sector in India, is a month away from applying for more funds from the Reserve Bank of India.In a conversation with CNBC-TV18's Alexander Mathew, Mudra's MD and CEO Jiji Mammen said his organisation would disburse most of the Rs 5,000 crore it has received from the RBI so far.“We currently have commitments to lend Rs 1,000 crore to banks,” says Mammen.The organization has only disbursed Rs 350 crore out of Rs 5,000 crore corpus and expects to disburse over Rs 1,000 crore within a week or two, he adds.He also says that several banks have given out "Shishu" loans at base rate, which are up to Rs 50,000 under Govt's MUDRA scheme.