Banks have given Rs 6 lakh cr Mudra loans to 12 cr beneficiaries: PM

Team Udayavani, May 29, 2018, 11:22 AM IST

New Delhi: As part of government’s scheme of funding the unfunded, Prime Minister Narendra Modi today said banks and financial institutions have given Rs 6 lakh crore to 12 crore beneficiaries.

“Out of the 12 crore beneficiaries, 28 percent or 3.25 crore are first-time entrepreneurs,” he said in his interaction with beneficiaries of this scheme.

He also said 74 percent or 9 crores, borrowers are women and 55 percent belong to the SC/ST and OBC category.

Pradhan Mantri Mudra Yojana (PMMY) was launched by the Prime Minister on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.