Mudra Scheme

As of October 25, MUDRA loans amounting to Rs 28,511 crore or 12.4 per cent of the annual target for PSBs, is still under process

Even its share in the total Mudra accounts fell from 86.03 per cent in FY19 to 62.33 per cent in FY24

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

The finance ministry in the forthcoming Union Budget needs to double the loan limit to Rs 20 lakh under the MUDRA Yojana, and expand the credit guarantee cover for unsecured loans for MSMEs from Rs 2 crore to Rs 5 crore. MSMEs also want incentives from the government to help them sell products globally. Finance Minister Nirmala Sitharaman will present the Union Budget for the current fiscal on July 23 in the Lok Sabha. On expectations from the Budget, Navin Saini, chief business officer (Retail & MSME), Arka Fincap said the government will continue its agenda to provide a strong foundation for MSMEs, bolstering their growth. "To achieve this, they should consider increasing the loan limit of the Pradhan Mantri MUDRA Yojana (PMMY) scheme from Rs 10 lakh to Rs 20 lakh and expanding the credit guarantee cover for unsecured loans for MSMEs from Rs 2 crore to Rs 5 crore. "These measures will provide MSMEs with greater access to necessary financial resources, enabling them to thrive and

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

State-owned Punjab National Bank (PNB) on Saturday said it has partnered with Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL), better known as Amul, to offer financial services to federation's supply network pan-India under the MUDRA scheme. A memorandum of understanding to this effect was signed between PNB and GCMMFL (Amul) on July 1, the bank said in a statement. Through small ticket financing under MUDRA, the bank will be financing Amul's retailers, wholesale dealers/area milk distributors and exclusive Amul preferred outlets-milk parlours, it said. Other services will include integrating various digital channels like QR codes, POS (point of sale), UPI (Unified Payment Interface), etc., supply chain finance and EMI collection digitally, and providing working capital limits, among others, it said. By the association, both the partners are aiming to provide support to more than 11 lakh retailers, wholesale dealers and others, it added.

Prime Minister Narendra Modi on Thursday said the "new India" is moving ahead with new policies and strategies, and his government is working proactively in matters of technology and infrastructure, shunning the "reactive approach" of the past. In a video address to a 'Rozgar Mela', Modi asserted the 'Mudra' loan project for small and micro enterprises has created over eight crore new entrepreneurs, and the government's policies and strategies have opened the doors to new possibilities. He also took a swipe at those who "consider themselves big economists" and gave "loans on phone" to big businessmen but are "ridiculing" the scheme. Though he named no one, his swipe was apparently aimed at Congress veteran and former finance minister P Chidambaram who recently questioned the 'Mudra' scheme and wondered what kind of businesses can be started with a loan of Rs 50,000. Modi said Rs 23 lakh crore loan has been given under the scheme with 70 per cent of beneficiaries being ...

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PMMY aims to facilitate easy collateral-free credit of up to Rs 10 lakh to micro-entrepreneurs for income-generating activities

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

The Prime Minister stressed on breaking free from the old adage that the water and youth of the mountains are of no use to the mountains themselves

Prime Minister Narendra Modi on Thursday said loans worth Rs 20 lakh crore have been disbursed so far under the Centre's MUDRA scheme to provide self-employment opportunities to the youth, and added that Maharashtra was one of its major beneficiaries. In a video message aired during an event here to distribute appointment letters as part of the Maharashtra government's aim to provide employment to 75,000 people, Modi said his government was providing assistance to start-ups and micro industries as well. The Pradhan Mantri MUDRA Yojana (PMMY) scheme was launched by the Modi government in April 2015 to provide loans up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises. "Youths play an important role in making India a developed country. The Centre has started a programme to provide 10 lakh jobs and on the same lines, the Maharashtra government has launched a scheme to provide employment to 75,000 people. It is a matter of pride that maximum recruitment will be done i

A total of Rs 19.22 trillion loans have been sanctioned to 353 million borrowers under the scheme in seven years since inception

Marking the seventh anniversary of Mudra scheme, PM Modi tweeted that the scheme has given an opportunity to countless Indians to showcase their entrepreneurial skills and become job creators

Highlighting the initiatives taken by the Indian government for women empowerment, India on Tuesday said it offers a unique template for gender-sensitive governance and equal access to education

He released over Rs 20 crore to over 0.1 million beneficiaries of the 'Mukhya Mantri Kanya Sumangala Scheme'

Mudra scheme target set at Rs 3 trillion for FY22 as against Rs 3.21 trillion sanctioned in FY21