Pradhan Mantri Mudra Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.
Read More:-PPF Account: Public Provident Fund account maturity nearing? What’s next? All you need to know
Banks and financial institutions have sanctioned Rs 23.2 lakh crore to over 40.82 crore beneficiaries under the Mudra Yojana launched to fund the unfunded eight years ago.
Pradhan Mantri Mudra Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.
Read More:- Gold prices today: 10 grams of 24-carat sold at Rs 60,870; silver at Rs 76,600 per kilo
Loans under PMMY are provided by Member Lending Institutions (MLIs) — banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries, the finance ministry said in a statement on Saturday.
Speaking on the occasion of the 8th anniversary, Finance Minister Nirmala Sitharaman said, “Since the launch of the scheme, as of March 24, 2023, about Rs 23.2 lakh crore has been sanctioned in 40.82 crore loan accounts”.
Read More:- About 41 Cr Loans Of Rs 23 Lakh Cr Granted Under MUDRA Till Now: FM