PMMY

Finance Minister Nirmala Sitharaman had made an announcement regarding this in her July 2024 Budget speech

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

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Banks and financial institutions have sanctioned Rs 23.2 lakh crore to over 40.82 crore beneficiaries under the Mudra Yojana since its launch in 2015. Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities. Loans under PMMY are provided by Member Lending Institutions (MLIs) -- banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries, the finance ministry said in a statement on Saturday. "#PMMudraYojana has played a vital role in funding the unfunded and ensuring a life of dignity as well as prosperity for countless Indians. Today, as we mark #8YearsOfMudraYojana, I salute the entrepreneurial zeal of all those who benefitted from it and became wealth creators," Prime Minister Narendra Modi said in a tweet. Speaking on the occas

As many as 37,76,05,305 people have been granted loan under the Centre's Pradhan Mantri Mudra Yojana (PMMY), BJP's state convener of the IT cell in Bihar, Manan Krishna said here on Thursday.

The NPAs of public sector banks (PSBs) under the Mudra scheme stood at 4.9 per cent in 2019-20 - a big jump from 3.7 per cent in 2018-19 and 3.4 per cent in 2017-18

There were also deliberations on allowing farmers to take fresh loans even if they fail to repay exsiting ones, as long as they service the interest

PMMY was launched by the Prime Minister on April 8, 2015, for providing loans of up to Rs 1 million to the non-corporate, non-farm small/micro enterprises.