Pradhan Mantri Mudra Yojana

Pradhan Mantri Mudra Yojana (PMMY)
प्रधानमंत्री मुद्रा योजना

Narendra Modi at launch of Pradhan Mantri Mudra Yojana
Country India
Prime Minister Narendra Modi
Launched 8 April 2015 (2015-04-08)
Status Active
Website www.mudra.org.in

Pradhan Mantri Mudra Yojana (PMMY; Hindi: प्रधानमंत्री मुद्रा योजना) under the Micro Units Development and Refinance Agency (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units. It was announced by the Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non corporate small business sector.[1] Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, Prime Minister Narendra Modi said today, emphasising that the government wants youth to be job creators and not job seekers.[2]

Objectives

Under the scheme, Pradhaan Mantri Mudra Yojana three categories of interventions has been named which includes

  1. Shishu :- Loan up to ₹50,000 (US$740)
  2. Kishore :- Loan ranging from ₹50,000 (US$740) to ₹5 lakh (US$7,400)
  3. Tarun :- Loan above ₹5 lakh (US$7,400) and below ₹10 lakh (US$15,000)

These three categories will signify the growth, development and funding needs of the beneficiaries as well as it will assure the loan amount to be allotted by Micro Units Development and Refinance Agency Bank.[3]

Performance

Under this scheme, according to MoneyControl.com, nearly 1,65,000 people avail the over-drafting facility where the government mobilised US$ 157,400,000 for this scheme by 1 September 2015.[4] As of 26th of Sep 2015, Banks have already disbursed ₹240 billion (US$3.6 billion) to 27 lakh small entrepreneurs under this scheme.[5]

Till the date of 7th April, 2016, the Mudra Yojana scheme in the state of Gujarat has served to 9.5 lakh beneficiaries under the ‘Shishu Loans’ category with a loans disbursement worth of Rs 2111 crore, 85,039 beneficiaries under the ‘Kishore Loans’ category with a loan disbursement worth of Rs 1,843 crore, and 25,852 beneficiaries have been served under the ‘Tarun Loans’ category with a loans disbursement worth of Rs 1,875 crore in the last 12 months. [6]

See also

References

  1. ↑ "PM launches Pradhan Mantri MUDRA Yojana". Gov.in. Retrieved 4 September 2015.
  2. ↑ "Rs 1 lakh crore disbursed under MUDRA Yojana: PM Modi". Vasopedia.com. Retrieved 2 February 2016.
  3. ↑ "MUDRA – Micro Units Development & Refinance Agency Ltd.". Retrieved 27 September 2015.
  4. ↑ "Nearly 1.65 lakh a/c holders avail overdraft under PMJDY". Money Control. CNBC. Retrieved 5 September 2015.
  5. ↑ "Arun Jaitley: Rs 1.22 lakh crore under MUDRA scheme in FY16". The Indian Express. ENS Economic Bureau. Retrieved 13 October 2015.
  6. ↑ "Mudra Loan in Gujarat". Retrieved 13 April 2016.


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