Latest News | 30 Cr Loans Worth Rs 15.97 Lakh Cr Disbursed Under PMMAY Since Apr 2015: Karad

New Delhi, Jul 20 (PTI) Over 30 crore loans amounting to Rs 15.97 lakh crore have been disbursed since April 2015 under the Pradhan Mantri Mudra Yojana (PMMY), Parliament was informed on Tuesday.

Banks and financial institutions have disbursed over 11.29 crore loans amounting to Rs 6.41 lakh crore during 2019-20 and 2020-21, Minister of State for Finance Bhagwat K Karad said in a written reply in the Rajya Sabha.

Under PMMY, institutional credit up to Rs 10 lakh is provided for entrepreneurial activities to micro/small business units by Member Lending Institutions (MLIs), that is Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs), he said.

He also said a sample survey was conducted at the national level by the Ministry of Labour and Employment to estimate employment generation under PMMY.

As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (from 2015 to 2018), he said.

At an overall level, Shishu category of loan has about 66 per cent share among additional employment generated by establishments owned by Mudra beneficiaries, followed by Kishore (19 per cent) and Tarun (15 per cent) categories.

Replying to another question, Karad said public sector banks have filed suits against 10,857 instances of wilful defaults till March 31, 2021.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)