Union Minister of Urban Development M. Venkaiah Naidu on Wednesday launched PM MUDRA Loan Mela in Andhra Pradesh.
Naidu distributed bank sanction letters to micro-entrepreneurs under the Pradhan Mantri MUDRA Yojana during a Mela in Visakhapatnam today.
Speaking on the occasion, he said the scheme was launched to bring in development among the downtrodden people of the society. The Union Minister said by March 31, loans to the tune of Rs.1.25 crores will be distributed.
Around 4,000 persons were identified and loan applications were processed.
BJP Andhra Pradesh President K. Haribabu said that he had set a target of 15,000 MUDRA loans from the city.