Banks have given ₹6 lakh crore Mudra loans to 12 crore beneficiaries: PM

As part of government’s scheme of funding the unfunded, Prime Minister Narendra Modi on Tuesday said that banks and financial institutions have given ₹6 lakh crore to 12 crore beneficiaries.

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

He also said that 74 %, or 9 crore, borrowers are women and 55 % who belong to the SC/ST and the OBC category.

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