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PM Narendra Modi Interacts With Beneficiaries of Mudra Yojana

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| May 29 , 2018 , 17:59 IST

Prime Minister Narendra Modi on Tuesday interacted with beneficiaries of the Mudra Yojana (PMMY) scheme.

Prime Minister Mudra Yojana (PMMY) scheme was launched by PM Modi, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.

As part of government's scheme of funding the unfunded, Prime Minister Narendra Modi today said that Rs 6 lakh crore has been disbursed to 12 crore beneficiaries in the last 3 years among which 75 per cents were youth and women. Further, 9 crore borrowers were women and 55 percent belong to the SC/ST and OBC category.

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Prime Minister said that the Mudra Yojana has become a job multiplier as it has opened up new avenues for youth, women and those who wanted to start or expand their businesses while relieving entrepreneurs from moneylenders, middlemen.

Under Pradhan Mantri MUDRA Yojana, Government has so far given out 12 crore loans worth Rs. 5.75 lakh crore. Out of which 28% of the loans worth Rs. 3.25 lakh crore was given to first-time entrepreneurs. Of the total loans disbursed, 74% of the total beneficiaries were women and 55% of the loans were given to SC/ST and OBC communities.

While interacting with the PM, Beneficiaries told him that the scheme has resulted in a positive difference in their lives as it helped them to set up their own business and also helped to create employment for others.

Prime Minister, while addressing the PMMY beneficiaries said that scheme has helped poor economically and socially as it has provided aid to small and micro businesses.

Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015. Under this scheme, the loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.