New Delhi: Finance Minister Nirmala Sitharaman has said that over 34.42 crore loan accounts have been opened under PM Mudra Yojana (PMMY) for a total amount of Rs 18.60 lakh crore in the last seven years. It may be recalled that PM Mudra Yojana was launched with the objective of financial inclusion. It has been 7 years since this scheme started. PMMY was launched by Prime Minister Modi on 8 April 2015. It aims to provide credit facilities up to Rs 10 lakh to non-corporate and non-farm small/micro enterprises.
7th anniversary of the scheme
On the occasion of 7th anniversary of the scheme, Finance Minister Nirmala Sitharaman said, “Under this scheme more than 34.42 crore loan accounts have been opened for income generation activities amounting to a total amount of Rs 18.60 lakh crore.” The Finance Minister said that this scheme has helped in creating a favorable environment especially for small businessmen. He said that this has created huge employment opportunities at the grassroots level.
The Finance Minister said that 68 per cent more loan accounts have been sanctioned for women and 22 per cent loans have been given to new entrepreneurs who had not taken loans since the launch of the scheme. Sitharaman said, “51 per cent of the total loans sanctioned so far have been disbursed to the SC/ST/OBC community.
Finance Ministry released by Statement
According to a statement by the Finance Ministry, the average loan amount is around Rs 54,000. 86% of the loans disbursed under this category belong to the ‘Shishu’ category. Under this, about 23 percent of the loan has been given to the SC and ST community and about 28 percent of the loan has been given to the lenders of the OBC community. At the same time, about 11 percent loan has been given to the minority community.