Around 39 crore loans extended under Pradhan Mantri Mudra Yojana till Jan 27

Tags: Government Schemes National News

Minister of State for Finance, Dr Bhagawat Karad said in a written reply to a question in the Lok Sabha on February 13 that till January 27, 2023, about 39 crore loans have been given under the Pradhan Mantri Mudra Yojana.

An overview of the news

  • Out of this, more than 26 crore loans have been given to women entrepreneurs and about 20 crore loans to SC, ST and OBC borrowers.

  • This scheme has helped in creating one crore 12 lakh net additional employment in the country from 2015 to 2018.

Pradhan Mantri Mudra Yojana

  • It was launched on 8 April 2015.

  • Under the scheme, the people of the country are given loans up to a maximum of 10 lakhs to start their own small business.

  • Any person who wants to further his business can take a loan under this scheme.

  • People are issued a Mudra card to avail loans under this scheme.

  • The loans are provided through Banks, Non-Banking Financial Companies (NBFCs), Micro Financial Institutions (MFIs), and other financial intermediaries.

  • More than 64 per cent of the loan accounts opened under the scheme are of women.

Three types of loans under Mudra Yojana

  • Under this scheme, three types of loans are given in Shishu, Kishore and Tarun.

  1. Shishu- Loans up to Rs.50,000.

  2. Kishor - Loans above Rs.50,000 and less than Rs.5 lakh.

  3. Tarun - Loans above Rs.5 lakh and up to Rs.10 lakh.

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