More than 6.80 crore loans of Rs. 5.20 lakh crore extended to New Entrepreneurs
New Delhi: As per data uploaded by Member Lending Institutions (MLIs) on Mudra portal, as on March 31, 2021, over 29.55 crore loans amounting to Rs. 15.52 lakh crore were sanctioned under Pradhan Mantri Mudra Yojana (PMMY) across the country, since inception of the Scheme in April, 2015.
Of these, more than 6.80 crore loans amounting to Rs. 5.20 lakh crore have been extended to New Entrepreneurs and Accounts, Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha on August 2, 2021.
Pradhan Mantri Mudra Yojana (PMMY) and Stand-Up India Scheme (SUPI) are the flagship Schemes implemented by Department of Financial Services (DFS) for extending loans to entrepreneurs. This was stated by
Under PMMY, institutional credit up to Rs. 10 lakh is provided by Member Lending Institutions (MLIs) for entrepreneurial activities to micro/small business units, including for new enterprises, which help in creating income generating activities in sectors such as manufacturing, trading, services and activities allied to agriculture. Government allocates annual targets regarding the amount to be sanctioned under PMMY to MLIs. For the current financial year (FY), a target of sanction of Rs. 3.00 lakh crore has been fixed for MLIs, the Minister stated.
Giving details of the other flagship scheme, Stand-Up India (SUPI), Karad said that it facilitates bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one Woman borrower per bank branch of Scheduled Commercial Banks for setting up greenfield enterprises in manufacturing trading or services sector and activities allied to agriculture.
Karad also stated that the Government takes measures on complaints received from time to time in respect of implementation of PMMY and SUPI, including turning down of loan applications or non-release of funds, are redressed in coordination with the respective banks.
– global bihari bureau
