Over 38 crore loans provided since launch of Pradhan Mantri Mudra Yojana

Tags: National Economy/Finance Government Schemes National News

In a written reply to a question in the Lok Sabha on March 14, Minister of State for Finance Dr. Bhagwat Kisanrao Karad said that since the launch of the Pradhan Mantri Mudra Yojana in April 2015, more than 38 crore loans have been disbursed so far.

An overview of the news

  • He informed that out of this, more than 26 crore loans have been given to women entrepreneurs.

  • About 20 crore loans have been disbursed to SC, ST and OBC borrowers.

  • The Ministry of Labor and Employment had conducted a large sample survey at the national level to assess the employment generation under the Pradhan Mantri Mudra Yojana.

  • According to the results of the survey, 1 crore 12 lakh net additional employment has been generated in the country from2015 to 2018 by this scheme.

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 than64 per cent of the loan accounts opened under the scheme are of women.

Three types of loans under Mudra Yojana

  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.

Please Rate this article, so that we can improve the quality for you -