Business News | MUDRA Yojana Completes 8 Years, Rs 23.2 Lakh Crore Sanctioned
Get latest articles and stories on Business at LatestLY. The Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi with an aim to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs.
New Delhi [India], April 9 (ANI): Around Rs 23.2 lakh crore has been sanctioned in 40.82 crore loan accounts under Pradhan Mantri MUDRA Yojana since its inception back in 2015.
"About 68 per cent of accounts under the scheme belong to women entrepreneurs and 51 per cent of accounts belong to entrepreneurs of SC/ST and OBC categories. This demonstrates that easy availability of credit to the budding entrepreneurs of the country has led to innovation and sustained increase in per capita income," Sitharaman said on the eighth anniversary of the scheme.
The Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi with an aim to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs.
Highlighting indigenous growth through MSMEs, the Finance Minister said, "The growth of MSMEs has contributed massively to the Make in India programme as strong domestic MSMEs lead to increased indigenous production both for domestic markets as well as for exports.
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"The PMMY scheme has helped in the generation of large-scale employment opportunities at the grassroots level and also has proved to be a game changer while boosting the Indian economy," she added. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)