As we celebrate the 7th anniversary of providing financial inclusion through the pillars of Pradhan Mantri MUDRA Yojana (PMMY), let us glance through some of the major aspects of this Scheme and its achievements.
PMMY
More than 34.42 crore beneficiaries have received Rs 18.60 lakh crore loan under the (PMMY) since its launch seven years ago, the Finance Ministry said on Friday. The PMMY was launched by Prime Minister Narendra Modi April 8, 2015, for providing loan up to Rs 10 lakh to the non-corporate and non-farm small/micro-enterprises.
The scheme has helped in creating an enabling environment particularly for small businesses and has helped generate large-scale employment opportunities at the grass roots level. More than 68% of the loan accounts have been sanctioned to women and 22% of the loans have been given to new entrepreneurs who had not availed any loan since the inception of the scheme,” finance minister Nirmala Sitharaman said.
The Pradhan Mantri Mudra Yojana
With 51 per cent of total loans sanctioned so far going to the SC/ST/OBC category, the Pradhan Mantri Mudra Yojana stands for social justice in action and embodies the true spirit of ‘Sabka Saath, Sabka Vikas’, as envisioned by the Prime Minister.”said Sitharaman
She also urged prospective borrowers to come forward and take part in nation building process she also congratulated all the mudra beneficiaries
The PMMY has stood out on most parameters for which it was launched, the Centre claimed. Moreover, 4.86 crore PMMY loan accounts with sanctioned amount of Rs. 3.07 lakh crore have been extended in the last FY (as on 25.03.2022). The average ticket size of the loans disbursed is about ₹54,000 and 86% of the loans under the scheme are of ‘SHISHU’ category.
23% of the loan given to SC and ST borrowers,28% of the loan have been given to OBC borrowers total 51% of loan sanctioned for SC/ST/OBC category and 11% of the loans given to the minority community borrowers
“The driving force behind launching Pradhan Mantri Mudra Yojana (PMMY) has been to provide institutional credit to micro, small and medium enterprises in a hassle-free/seamless manner.”Union Minister of State (MoS) for Finance Dr Bhagwat Kisanrao Karad said
