Rs 24k cr loans disbursed under Pradhan Mantri Mudra Yojana

The total credit disbursed to millions of small entrepreneurs across the country under the Centre’s ambitious Pradhan Mantri MUDRA Yojana stands at around Rs 24,000 crore, Mudra Bank CEO Jiji Mammen said in Kochi. He said at least 2 crore people would be given Rs 1,22,000 crore loan under the scheme, which was launched this year and aimed at funding the unfunded sections of the society.

Mammen, who was in kochi to attend Pradhan Mantri Mudra Yojana Credit Camp in Ernakulam district, said that during the ongoing campaign to promote the scheme among non-corporate small business sector, each bank has been asked to lend loans to at least 25 accounts. “Our focus is to provide Shishu category loan covering loans up to Rs 50,000. Sixty per cent of Mudra loans should be given under Shishu category. That is our focus”, he told reporters in Kochi.

He said Non Corporate Small Business Segment (NCSBS) comprising millions of proprietorship/partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits/vegetable vendors, truck operators, food service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas are the target clients of Mudra.

Noting that they are dependent upon moneylenders for loan on an exploitative rate of interest, Mammen said all eligible beneficiaries can get Pradhan Mantri Mudra Yojana extended by all Public Sector Banks such as PSU banks,Regional rural banks and cooperative banks, private sector banks, foreign banks, micro finance institutions and non banking finance companies. All loans up to a loan size of 10 lakh is provided for non-farm sector income generating activities since April this year, he added.

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