Under Pradhan Mantri Mudra Yojana (PMMY), Rs 3.22 lakh crore loan was sanctioned during the financial year 2020-21 against the target of Rs 3.5 lakh crore, Union Minister of State for Finance Bhagwat Kisanrao Karad said on Tuesday.
In a written reply to a question in Rajya Sabha, the Minister stated that as on December 31, 2021, over 32.53 crore loans involving a sanctioned amount of Rs 17.32 lakh crore have been extended under the PMMY, since its inception in April, 2015.
Under the Pradhan Mantri Mudra Yojana, the Government allocates annual targets for the amount to be sanctioned by more than 150 Member Lending Institutions (MLIs). The MLIs, in turn, fix their respective state-wise target according to the potential of the area, their presence, and other related parameters.
Under the scheme, institutional credit up to Rs 10 lakh is provided by MLIs to micro/small business units for income-generating activities in manufacturing, trading, services sectors and also for activities allied to agriculture.
( With inputs from ANI )
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