Quick Summary
More than 28.68 crore loans for an amount of Rs 14.96 lakh crore sanctioned by Banks, NBFCs and MFIs since launch of the PMMY PMMY helped in generation of 1.12 crore net additional employment from 2015 to 2018 Ministry of Finance is committed to provide financial inclusiveness and support to the marginalized and hitherto socio-economically neglected classes. Financial needs of all stakeholders ranging from the budding entrepreneurs to the hard-working farmers has also been catered to throu
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FAQ :
PMMY is a scheme launched on April 8, 2015, to provide collateral-free loans up to Rs 10 lakh to non-corporate, non-farm small and micro enterprises.
As of March 19, 2021, more than 28.68 crore loans amounting to Rs 14.96 lakh crore have been sanctioned under the PMMY.
MUDRA loans are offered in three categories: 'Shishu' for loans up to Rs 50,000, 'Kishore' for loans above Rs 50,000 and up to Rs 5 lakh, and 'Tarun' for loans above Rs 5 lakh and up to Rs 10 lakh.
Loans are extended to non-corporate, non-farm small/micro enterprises for income-generating activities in manufacturing, trading, services, and agriculture-allied sectors.
A survey indicated that PMMY helped generate 1.12 crore net additional employments between 2015 and 2018, with women accounting for 69 lakh of these jobs.
Approximately 68% of the loans sanctioned under PMMY have been given to women entrepreneurs.
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