Banks must accelerate loan disbursement under PMMY in Bihar : Singh

Dr K K Kaushik

Muzaffarpur : Union Minister of State (Independent Charge) for Power Raj Kumar Singh on October 13, 2017, asked the banks to accelerate the pace of loan disbursement under PM Murdra Yojna (PMMY). Inaugurating PMMY campaign at Muzaffarpur, Singh said that so far only 78 lakh people had been given loan under the scheme in Bihar as the banks were reluctant to extend the loan.

He said that the banks should provide loan to the applicants without guarantee or collateral but should see to it that it is returned. Singh asked the banks to simplify the process of loan disbursement under PMMY. He said that the country has marched on the path of develpment and PMMY would further accelerate it. Bihar Animal and Fishery resources Minister Pashupati Kumar `Paras’ too said that the state is witnessing execution of development schemes at a faster pace. Commissioner, Tirhut Division, said that banks would provide loan under PMMY in co-ordination with the state government.

Mudra Loans are available for non-agricultural activities up to Rs. 10 lakh and activities allied to agriculture such as Dairy, Poultry, Bee Keeping etc are also covered under it. Mudra’s unique features include a Mudra Card which permits access to Working Capital through ATMs.