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Tamil Nadu Women Topped the List of MUDRA Loan Scheme Beneficiaries

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TN-women-top-the-list-of-MUDRA-loan-scheme-beneficiariesIn accordance with the data provided by the Ministry of Finance to the Rajya Sabha, as of March 31, 2020, women in Tamil Nadu topped the list of loan benefits under Pradhan Mantri Mudra Yojana (PMMY) by availing Rs 58,227 crore loan. They are followed by women in West Bengal (Rs 55,232 crore), Karnataka (Rs 47,714 crore), Bihar (Rs 44,879 crore) and Maharashtra (Rs 42,000 crore).

  • Together women from these five States have got 52% of the total MUDRA loan.
  • As of March, 2020, more than 22.53 crore loans have been sanctioned since launch of the scheme. Out of this, more than 15.75 crore loans extended to women, thereby 70% of the total loan borrowers are women.

About PMMY:

PMMY was launched on April 8, 2015, for providing loans up to Rs 10 lakh to the non-corporate, non-farm small/micro-enterprises. The loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs (Regional Rural Banks), Small Finance Banks (SFBs), MFIs (Micro Finance Institutions), and Non-Banking Financial Companies (NBFCs) in the following three categories:

  • Shishu – Allowed loans up to Rs.50,000
  • Kishore – Allowed loans up to Rs.5,00,000
  • Tarun – Allowed loans up to Rs.10,00,000

Recent Related News:

On March 3, 2020, the Ministry of Finance released figures related to various schemes having special provisions for empowerment of women. Under Stand Up India Scheme there are more than 81% Women account holders. There are over 43% Women subscribers in Atal Pension Yojana (APY); 70% Women borrowers in PMMY; Over 40% women member enrollments in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) & Pradhan Mantri Suraksha Bima Yojana (PMSBY)

About Ministry of Finance: 
Union Minister– Nirmala Sitharaman
Minister of State (MoS)– Anurag Singh Thakur