File photo of former Union Minister and senior Congress leader P. Chidambaram. In a tweet, Mr Chidambaram said that under the Mudra loan scheme, loans worth Rs 23.2 lakh crore have been given in eight years. , Photo credit: Shiv Kumar Pushpakar
As the Pradhan Mantri Mudra Yojana completed eight years, on 9 April senior Congress leader P. Chidambaram said that 83% of the loans given under the scheme were below ₹50,000, which surprised him that the loan amount today What kind of business can be done with Qty.
Banks and financial institutions have sanctioned ₹23.2 lakh crore The Mudra scheme was launched eight years ago to fund over 40.82 crore beneficiaries.
Pradhan Mantri Mudra Yojana (PMMY) launched by Prime Minister Narendra Modi on April 8, 2015 to facilitate easy collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-agriculture small and micro-entrepreneurs with income was done. Productive activities.
In a tweet, Mr Chidambaram said that under the Mudra loan scheme, loans worth ₹23.2 lakh crore have been disbursed in eight years which is “impressive” until you take into account that 83% of those loans were ₹ 50,000 or less.
“That’s ₹19,25,600 crore of loans given to borrowers at rates of ₹50,000 or less. It makes me wonder what kind of business can be done today with a loan of ₹50,000?” said the former finance minister.
Loans under PMMY are provided by member lending institutions (MLIs) – banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries, the finance ministry said in a statement on Saturday.