Over 11.29 Crore Loans Worth Rs 6.41 Lakh Crore Disbursed Under PM Mudra Yojana During FYs 2019-21: Govt

by Swarajya Staff - Jul 21, 2021 10:11 AM +05:30 IST
Over 11.29 Crore Loans Worth Rs 6.41 Lakh Crore Disbursed Under PM Mudra Yojana During FYs 2019-21: Govt PMMY logo

The government on Tuesday (19 July) informed that over 11.29 crore loans worth Rs 6.41 lakh crore were disbursed under Pradhan Mantri Mudra Yojana (PMMY) across the country during FY20 and FY21.

PMMY is a scheme launched by Prime Minister Narendra Modi in April 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small and micro enterprises. These loans are classified as MUDRA loans under PMMY and are given by commercial banks, RRBs, small finance banks, MFIs and NBFCs.

"Under Pradhan Mantri Mudra Yojana (PMMY) over 11.29 crore loans amounting to Rs. 6.41 lakh crore have been disbursed across the country during FY 2019-20 and FY 2020-21 as informed by Member Lending Institutions (MLIs)," Union Minister of State for Finance Bhagwat Kisanrao Karad stated in a written reply to a question in the Rajya Sabha on Tuesday (19 July).

The minister also stated that over 30 crore loans amounting to Rs.15.97 lakh crore have been sanctioned under PMMY since inception of the scheme in April 2015.

Responding to a question about the scheme helping in reduction of unemployment , the minister stated that as apprised by the Ministry of Labour and Employment (MoLE), a sample survey was conducted at the national level to estimate employment generation under PMMY, a Ministry of Finance statement said.

As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (i.e. from 2015 to 2018), the minister said.

At an overall level, Shishu category of loan has about 66 per cent of share among additional employment generated by establishments owned by MUDRA beneficiaries followed by Kishore (19 per cent) and Tarun (15 per cent) categories respectively.

However, the minister stated, data pertaining to unemployed persons who have been extended loans under PMMY is not maintained by the government as a separate category.

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