MUDRA Loan

The government has doubled the loan limit under the Pradhan Mantri Mudra Yojana (PMMY) to Rs 20 lakh to promote entrepreneurship in the country. This increase aspires to further the overall objective of the Mudra Scheme which is funding the unfunded, the finance ministry said in a statement on Friday. A notification in this regard was issued on Thursday. As announced by the Finance Minister Nirmala Sitharaman on July 23, 2024, in the Union Budget 2024-25, the limit under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from the current Rs 10 lakh to Rs 20 lakh. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', Sitharaman said while presenting the Budget in the Lok Sabha. This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion. The move is in alignment with the government's commit

Over 460 million loans worth Rs 27 trillion have been given so far under the yojana

Government-endorsed scheme is easier to access for small credit amounts

The government has extended 43 crore loans aggregating to Rs 22.5 lakh crore were extended under the PM Mudra Yojana, Finance Minsiter Nirmala Sitharaman said on Thursday. Sitharaman in her pre-election Budget, which is technically a vote on account and is popularly termed an interim Budget, said direct benefit transfer of Rs 34 lakh crore through Jan Dhan accounts have resulted in savings of Rs 2.7 lakh crore. The finance minister also said 30 crore Mudra Yojana loans have been given to women in the last 10 years. Saturation approach of covering all eligible people is true and comprehensive achievement of social justice and this is secularism in action, she asserted. She added that India today has 80 chess grandmasters compared to 20 in 2010.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday said women entrepreneurs are accorded first priority under the Centre's flagship Pradhan Mantri Mudra Yojana scheme which offers financial assistance to beneficiaries. Distributing sanction letters to beneficiaries under the PM SVANidhi Se Samriddhi programme which offers loans to street vendors, here, she said officials of the municipalities should identify the uncovered street vendors and help them avail benefits of this scheme. SVANidhi Se Samriddhi is an additional component of the PMSVANidhi scheme to facilitate access to eight Central government schemes to eligible PM SVANidhi beneficiaries and their family members for their holistic development and socio-economic upliftment. Recalling the launch of Jan Dhan-Aadhaar-Mobile Trinity, Sitharaman said that through JAM Trinity, an AADHAR card was provided to a beneficiary, after which he or she can open a bank account and, directly, the financial aid from the

Every business needs a loan to flourish and grow and the need is more if it is a new business or startup. The government has issued several loan schemes to help MSMEs. Check details below

The MUDRA scheme has helped in generation of large-scale employment opportunities at grassroots level and also proved a game changer while boosting Indian economy

Union minister Ramdas Athawale on Wednesday said that loans amounting to Rs 1,582.57 crore have been disbursed to 3 lakh beneficiaries in Manipur under the Pradhan Mantri Mudra Yojna

Benefit will be applicable for 12 months to all loan accounts under 'Sishu' category of Mudra scheme, provided they have not been classified as NPA as of March 31, 2020

Rajnish Kumar said, "a certainty on regulatory stance, and support that may be coming from the government, is required as we are now in the exit phase of the lockdown."

Simply put, the number of additional jobs created in 33 months was less than 10 per cent of the total number of loans

To contain high bad loans in the MUDRA scheme, the managers suggested that a national portal be floated to verify the borrower and whether multiple lending has happened

Since 2015-16, 75.5 million loans had been sanctioned to women as of Dec 22, 2017, finance minister Arun Jaitley told in the Lok Sabha on Jan 5. As of Jan 26,106 million loans had been sanctioned

As part of the special drive, 50 camps, including one each in state capitals, will be organised between September 27 and October 17, official sources said

Any loan by a financial institution to an SME below Rs 10 lakh is termed a Mudra loan

Despite having a lull after note ban, it has disbursed Rs 80,000 crore from April to Dec in 2016