Speed Post News Network
New Delhi : PM Narendra Modi will interact with over 100 MUDRA beneficiaries from across the country at a function in the capital on Aptil 11, 2018.
Pradhan Mantri Mudra Yojana (PMMY) has been one of the flagship initiatives of the Government to promote entrepreneurship spirit among the youth by providing easy loans without guarantees. As on March 23, 2018, 4,53,51,509 loans have been sanctioned. The total amount disbursed under this scheme is over Rs 2,20,596 crore
The scheme was launched on April 8, 2015, to promote and ensure access of financial facilities to Non –Corporate Small Business Sector (NCSBS). The loans provided are easily accessible and in three categories- Shishu, Kishore and Tarun, according to a PIB release.
Under the scheme all loans up to Rs 10 lakh for income generating activities will be extended as PMMY loans. Loan of up to Rs 50,000 is given under sub-scheme ‘Shishu’ between Rs 50,000 to Rs 5 lakh under sub-scheme ‘Kishore’ and between Rs 5 lakh to Rs 10 lakhs under sub-scheme ‘Tarun’.
Activities allied to Agriculture (excluding crop loans, land improvement such as canals, irrigation, wells) and services supporting these, which promote livelihood or are income generating, have also been included under Pradhan Mantri Mudra Yojana from April 2016 onwards.
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