New Delhi, April 12: Over 100 beneficiaries of the Pradhan Mantri Mudra Yojana, from across the country, interacted with Prime Minister Narendra Modi, at his residence.
During the informal interaction with Narendra Modi, many of the beneficiaries explained how their lives had improved through the use of the Mudra loans sanctioned to them.
The Prime Minister appreciated the efforts of the entrepreneurs who have made good use of the Mudra Loans. He said that 11 crore people have so far benefited from the Pradhan Mantri Mudra Yojana.
He said that one of the aims of this scheme is also to increase self-confidence among the people. He said that so far, the conventional thinking has been that employment is generated either in the public sector or in the private sector. This scheme, he said, has helped in the development of the “personal sector,” as a means of livelihood and self-employment.
The informal interaction between the Prime Minister and the beneficiaries, lasted for over an hour. Ministers of State for Finance, Pon Radhakrishnan and Shiv Pratap Shukla were present on the occasion.
Pradhan Mantri Mudra Yojana (PMMY) has been one of the flagship initiatives of the Governmentto promote entrepreneurship spirit among the youth by providing easy loans without guarantees.
As on 23rd March, 2018, 4,53,51,509 loans have been sanctioned, amounting to Rs 2,28,144.72 Crore. The total amount disbursed under this scheme is Rs 220596.05 Crore.
The scheme was launched on 8th April 2015 to promote and ensure access of financial facilities to Non –Corporate Small Business Sector (NCSBS). The loans provided are easily accessible and in three categories- Shishu, Kishore and Tarun.
Under the scheme all loans upto Rs10 lakh for income generating activities will be extended as PMMY loans. Loan of upto Rs 50000 is given under sub-scheme ‘Shishu’ between Rs 50,000 to 5 Lakhs under sub-scheme ‘Kishore’ and between Rs 5 Lakhs to Rs.10 Lakhs under sub-scheme ‘Tarun’.