Pradhan Mantri Mudra Yojana
| Pradhan Mantri Mudra Yojana | |
|---|---|
Narendra Modi at launch of Pradhan Mantri Mudra Yojana
|
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| Country | India |
| Prime Minister | Narendra Modi |
| Established | 8 April 2015 |
| Current status | Active |
| Website | www |
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 Hon’ble 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]
Objectives[edit]
Under the scheme, Pradhan Mantri Mudra Yojana three categories of interventions has been named which includes
- Shishu :- Loan upto ₹50000 (US$750)
- Kishore :- Loan ranging from ₹50000 (US$750) to ₹5 lakh (US$7,500)
- Tarun :- Loan above ₹5 lakh (US$7,500) 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.[2]
Performance[edit]
Under this scheme, according to MoneyControl.com, nearly 1,65,000 people avail the over-drafting facility where the government mobilised USD $157,400,000[citation needed] for this scheme by 1 September 2015.[3] As of 26th of Sep 2015, Banks have already disbursed ₹24000 crore (US$3.6 billion) to 27 lakh small entrepreneurs under this scheme.[4]
References[edit]
- ^ "PM launches Pradhan Mantri MUDRA Yojana". Gov.in. Retrieved 4 September 2015.
- ^ "MUDRA – Micro Units Development & Refinance Agency Ltd.". Retrieved 27 September 2015.
- ^ "Nearly 1.65 lakh a/c holders avail overdraft under PMJDY". Money Control. CNBC. Retrieved 5 September 2015.
- ^ "Arun Jaitley: Rs 1.22 lakh crore under MUDRA scheme in FY16". The Indian Express. ENS Economic Bureau. Retrieved 13 October 2015.
External links[edit]
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