PM Mudra Yojana: Rs 9.98 lakh cr disbursed in three fiscal years till March 2022

Over 16.67 crore loans involving a sanctioned amount of Rs 9.98 lakh crore have been extended under Pradhan Mantri Mudra Yojana (PMMY) in the last three financial years ending March 2022, Union Finance Minister Nirmala Sitharaman informed Lok Sabha on Monday.

Out of the total loans, more than 11.08 crore loans amounting to sanctioned amount of Rs 4.42 lakh crore have been extended to women borrowers, Sitharaman said. It constituted approximately 68 per cent of the total number of loans and 44 per cent of the amount disbursed under the scheme.

The response was in reply to a question by parliamentarian M. Selvaraj regarding the funds allocated to different industries under the scheme during the last three years, the number of women who have been sanctioned loans, and the steps taken by for spreading awareness.

The Centre has taken various steps towards spreading awareness about PMMY across the country, which include publicity campaigns media, financial literacy and awareness camps, a special drive for financial inclusion, and other modes.

Banks also undertook publicity through their branches and also through banking correspondents.

Under Pradhan Mantri Mudra Yojana (PMMY), collateral-free institutional credit up to Rs 10 lakh is provided by banks and Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to micro/small business units for income-generating activities in the manufacturing, trading, services sector and also for activities allied to agriculture.

( With inputs from ANI )

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