Mudra Loans

PSBs at only 42% of FY25 MUDRA disbursement target by October-end

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

Centre doubles Mudra loan ceiling to Rs 20 lakh under new category

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

Customer connect can help avert MUDRA loan crisis, says SBI Dy MD

In August, the Finance Minister had said that public sector banks' non-performing assets (NPA) in the MUDRA loan category stood at 3.4 per cent in FY24, compared to 4.7 per cent in FY21

Niti Aayog calls for guidelines, e-KYC to check PMMY applicants background

The government think tank NITI Aayog has pitched for a set of guidelines for assessing the creditworthiness and background verification for those availing loans under the Pradhan Mantri Mudra Yojana (PMMY). The Aayog in a report titled 'Impact Assessment of PMMY' suggested encouraging E-KYC authentication for loan underwriting. This will enhance the effectiveness of assessment checks. "A set of guidelines for assessing the creditworthiness and background verification must be enlisted to provide a security net to the banks, considering the loans are collateral free and a proper risk check and assessment has a critical role to play in the sustainability of results and success of the scheme," it said in the report posted on its website. The majority of borrowers under PMMY are small entrepreneurs who have very limited documents and this makes it difficult for the banks to run verification checks as it requires more staffing and employees. The Aayog also suggested that a proper reward

Govt to meet PSBs to review financial inclusion schemes: Check details

Ahead of Budget 2024, the Finance Ministry will meet state-owned banks and financial institutions on Tuesday to assess advancements in key financial inclusion schemes. Three key schemes explained

BJP promises to double Mudra loan limit to Rs 20 lakh in its poll manifesto

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

BJP promises to double Mudra loan ceiling to Rs 20 lakh: Details here

Under the PM Mudra Yojana (PMMY), over 460 million loans worth Rs 27 trillion have been given so far

Essential Insights on MUDRA Loan Rates for Borrowers

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270 mn loans to women under MUDRA; here's all you need to know about scheme

The MUDRA loans are given by commercial banks, regional rural banks, small finance banks, microfinance institutions, and non-banking financial institutions

More than 408.2 mn loans amounting to Rs 23.2 trn sanctioned under PMMY

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

Mudra loans worth Rs 36,578 cr sanctioned to 5.4 mn borrowers in April-May

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

Amid rise in Mudra loan NPAs, finmin to meet PSB CEOs to take stock

Minister of State for Finance, Bhagwat Karad will meet the PSB CEOs on September 16 in Aurangabad

Time to bury Mudra 'loan mela'

The loan mela called Mudra was a populist and political move to give away money

Banker's Trust: Tamal Bandyopadhyay on the facts and fiction of Mudra loans

Do we need yet another refinance agency? No one will shed a tear if Mudra is given a decent burial

Loans of Rs 14.96 lakh crore sanctioned since launch of PM Mudra scheme

According to the Centre, more than 28.68 crore loans for an amount of Rs 14.96 lakh crore have been sanctioned by banks, NBFCs and MFIs since the launch of PMMY

Govt may not extend Rs 3 trn credit guarantee scheme for MSMEs beyond Oct

The scheme is meant to provide financial support to businesses, primarily Micro, Small and Medium Enterprises (MSMEs), impacted by slowdown triggered by the coronavirus pandemic

Green shoots are mechanical rebound, don't read much into it: Ex-RBI Guv

Short-term as well as medium-term prospects (for Indian economy) continue to be grim, says D Subbarao

Lockdown 4.0: Not looking for dole, need better policies, say Meerut MSMEs

The fourth of a five-part series looks at the situation in the industrial heartland of Western UP where firms prefer GST refunds, supportive policies over handouts

Aatmanirbhar Bharat offers MSMEs short-term respite: Crisil SME Tracker

3.5 trn Atmanirbhar Bharat package for SMEs can increase credit to MSMEs by 18-19% which can address the short-term liquidity crunch. Here's a closer look at the measures announced, and their impact

Ambitious $5-trillion economy target sounds too idealistic: Niti official

Dispelling concerns over the slowdown, Dalmia said that tough times don't last but tough nations do