Government has sanctioned loans amounting Rs 15.5 lakh crore underneath its flagship Pradhan Mantri Mudra Yojana ever since its inception in April 2015.
According to official estimates, until March 31, 2021, the Government had sanctioned 29.55 crore loans to beneficiaries throughout the nation underneath Mudra scheme. The scheme offers loans to micro, small and medium enterprises in addition to new enterprises.
Out of the 29.5 crore loans sanctioned within the final six years, greater than 6.8 crore loans price Rs 5.2 lakh crores have been given to new entrepreneurs.
For the present monetary yr, the Centre has fastened a goal of sanctioning loans price Rs 3 lakh crore for lending establishments. Annual targets for lending are fastened underneath the Mudra scheme, official sources mentioned.
This helps in creating revenue producing actions in sectors like manufacturing, buying and selling, companies and agriculture.
Under the scheme, credit score as much as Rs 10 lakh is offered by banks and non-banking monetary firms to small and new companies.
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