Loan worth Rs. 3.92 lakh crore sanctioned to beneficiaries under Mudra yojana

New Delhi, September 22: Under Pradhan Mantri Mudra yojana (PMMY),  loan worth Rs. 3.92 lakh crore sanctioned to 9.52 crore beneficiaries up to 15 September 2017. This scheme was launched by Prime Minister Narendra Modi on 8th April 2015. PMMY- ‘funding the unfunded’ is a scheme which empowers entrepreneurs through financial assistance.

 

Amount of 3.97 Lakh crore sanctioned in 2016-17 in which amount of 3.92 lakh crore has been sanctioned to 15th September 2017. During the year, 2.91 crore women entrepreneurs have an account out of 3.97 crore loan accounts which is 73% of the total.

According to stock group report, through MUDRA loans 5.5 core jobs have been generated in which 3.7 crore is the direct job and 1.6 crore is an indirect job. Over 70% beneficiaries are women. While other beneficiaries are the Scheduled Tribes (ST) which accounts for 5%, Scheduled Tribes (ST)- 20% and Other Backward Classes (OBC)- 35%. Eight crore people have been benefited with Rs. 3.92 Lakh crore of loan amount disbursed and in two years 1.7 crore incremental jobs have been created.

The Union budget target for MUDRA in 2017-18 is Rs.2.44 lakh crore. In the Financial Year 2016-2017, Number of PMMY Loans Sanctioned is 39701047. The amount sanctioned is Rs.180528.54 crore and the amount disbursed is Rs.175312.13 crore.

While in the Financial Year 2015-2016, Number of PMMY Loans Sanctioned is 34880924 in which sanctioned amount was Rs.137449.27 crore and amount disbursed was Rs.132954.73 crore.

To provide loans at low rates to micro-finance institutions and non-banking financial institutions, Micro Units Development and Refinance Agency Bank (or MUDRA Bank) was set up. It is a public sector financial institution in India.