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Entrepreneurs availed over 29.55 crore loans of Rs. 15.52 lakh crore under Pradhan Mantri Mudra Yojana (PMMY) since 2015 More than 6.80 crore loans of Rs. 5.20 lakh crore extended to New Entrepreneurs/Accounts Pradhan Mantri Mudra Yojana (PMMY) and Stand-Up India Scheme (SUPI) are the flagship Schemes implemented by Department of Financial Services (DFS) for extending loans to entrepreneurs. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply
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FAQ :
PMMY is a flagship scheme implemented by the Department of Financial Services to provide institutional credit up to Rs. 10 lakh to micro and small business units, including new enterprises, for income-generating activities.
More than 6.80 crore loans, amounting to Rs. 5.20 lakh crore, have been extended to new entrepreneurs and accounts under the PMMY.
As of March 31, 2021, over 29.55 crore loans totalling Rs. 15.52 lakh crore have been sanctioned under PMMY since April 2015.
The target for loan sanctions under PMMY for the current financial year has been fixed at Rs. 3.00 lakh crore for Member Lending Institutions.
PMMY supports entrepreneurial activities in sectors such as manufacturing, trading, services, and activities allied to agriculture.
The government addresses complaints regarding the implementation of PMMY, including loan application rejections or non-release of funds, in coordination with the respective banks.
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