dddPradhan Mantri Mudra Yojana, PMMY, was launched on 8 April 2015. It completes it six years today, said a press release by the Ministry of Finance.
Mudra Yojana offers loans up to Rs 10 Lakh to non-corporate, non-farm small/micro-enterprises.
Under this scheme, collateral-free loans are extended by Member Lending Institutions (MLIs) viz Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) etc.
The loans are given for income-generating activities in manufacturing, trading and services sectors and activities allied to agriculture.
Mudra loans are provided in three categories with different brackets.
Shishu, up to Rs 50,000; Kishore, from 50,000 to 5 Lakh and Tarun, from 5 Lakhs to 10 Lakhs. These were named to denote the progressive stage of the growth of the business.
Some of the key achievements of Mudra yojana are listed:
More than 28.68 crore loans for an amount of Rs 14.96 lakh crore have been sanctioned since the launch of the scheme (as on 19 March).
68 per cent of the loans have been given to women entrepreneurs.
88 per cent of the loans are in the ‘SHISHU’ category.
Almost 24 per cent of the loans have been given to new entrepreneurs.
As per a survey conducted by the Ministry of Labour and Employment, PMMY helped in the generation of 1.12 crore net additional employment from 2015 to 2018. Out of the 1.12 crore of the estimated increase in employment, Women accounted for 62 per cent of it.
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