Over 26.68 crore loans worth an amount of RS 14.96 lakh crore has been approved by the banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) after introducing Pradhan Mantri Mudra Yojana (PMMY), as per the Centre.
The Union Finance Ministry released a statement, “Ministry of Finance is committed to provide financial inclusiveness and support to the marginalized and hitherto socio-economically neglected classes. Financial needs of all stakeholders ranging from the budding entrepreneurs to the hard-working farmers has also catered to through various initiatives.”
The statement added, “A key initiative towards this is Pradhan Mantri Mudra Yojana (PMMY), which has given wings to the dreams and aspirations of millions, along with a feeling of self-worth and independence.”
The PMMY was introduced by Prime Minister Narendra Modi in 2015 with the intent of giving loans till Rs 10 lakh for non-corporate, non-farm small or micro enterprises.
(With inputs from ANI)
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