Under Pradhan Mantri Mudra Yojana Loans worth Rs1.09 lakh crore have been sanctioned to small entrepreneurs, loans worth over Rs.1.09 lakh crore were given to over 2.96 crore beneficiaries.
- MUDRA Yojana, which was launched in April last year, loans between Rs.50, 000 and Rs.10 lakh are provided to small entrepreneurs. The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who have deployed funds totalling Rs.11 lakh crore and provide jobs to 12 crore people.
Pradhan Mantri Mudra Yojana:
- MUDRA is an acronym of Micro Units Development & Refinance Agency Ltd. It was announced by the Finance Minister while presenting the Union Budget for FY 2016.
- The purpose of MUDRA is to provide funding to the non-corporate small businesssector loansto small entrepreneurs under the Pradhan Mantri MUDRA Yojana.
- The basic objective of this initiative is to create employment across the country.
Pradhan Mantri Mudra Yojana three categories:
- Shishu: Loan up to50, 000
- Kishore: Loan ranging from50, 000 to Rs.5 lakh
- Tarun: Loan above5 lakhand below Rs.10 lakh
These three categories will signify the growth, development and financial inclusion is the delivery of financial services at an affordable cost to the disadvantaged and low income groups.