MUDRA Yojana: Banks sanction Rs 15 lakh crore below Mudra Yojana in final 6 years

NEW DELHI: The finance ministry on Wednesday stated banks and monetary establishments have sanctioned Rs 14.96 lakh crore to over 28.68 crore beneficiaries within the final six years.
Pradhan Mantri MUDRA Yojana (PMMY) was launched by Prime Minister Narendra Modi on April 8, 2015 to advertise entrepreneurship.
Ministry of finance is dedicated to offer monetary inclusiveness and help to the marginalized and hitherto socio-economically uncared for courses.
“Monetary wants of all stakeholders starting from the budding entrepreneurs to the hard-working farmers has additionally been catered to via numerous initiatives. A key initiative in direction of that is Pradhan Mantri MUDRA Yojana (PMMY), which has given wings to the goals and aspirations of tens of millions, together with a sense of self-worth and independence,” finance ministry stated in a press release.
It additional stated that 4.20 crore PMMY loans have been sanctioned in 2020-21, and Rs 2.66 lakh crore was allotted in 2020-21 as on March 19, 2021.
The common ticket measurement of the loans is about Rs 52,000, it stated.
Underneath PMMY collateral free loans of as much as Rs 10 Lakh are prolonged by Member Lending Establishments (MLIs) viz Scheduled Industrial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non-Banking Monetary Corporations (NBFCs), Micro Finance Establishments (MFIs) and so forth.
The loans are given for revenue producing actions in manufacturing, buying and selling and providers sectors and for actions allied to agriculture.
The scheme was launched to encourage small companies, and banks have been requested present collateral-free loans as much as Rs 10 lakh below three classes — Shishu (as much as Rs 50,000), Kishore (between Rs 50,000 and Rs 5 lakh) and Tarun (Rs 10 lakh).

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