More than 28.68 crore loans worth Rs 14.96 lakh crore were sanctioned by banks, non-banking finance companies and micro-finance institutions since launch of the Pradhan Mantri MUDRA Yojana (PMMY), the finance ministry has said. It said the scheme has helped generate 1.12 crore jobs from 2015-2018.
Of this, 4.20 crore PMMY loans were sanctioned in 2020-21 alone, under which Rs 2.66 lakh crore were disbursed in the fiscal year (As on 19.03.2021).
As per the ministry, the average ticket size of the loans is about Rs 52,000, and 88 per cent loans are of 'SHISHU' category; 24% new entrepreneurs; 68% women entrepreneurs; 51% SC/ST/OBC borrowers; 22.53% SCs and STs borrowers; 28.42% OBCs borrowers; and 11% minority community borrowers.
The labour ministry survey says PMMY has helped create 1.12 crore jobs in three years from 2015 to 2018, of which women account for 69 lakh (62%).
Prime Minister Modi had launched the PMMY on April 8, 2015. Initially, the aim was to disburse loans up to Rs 10 lakh to the non-corporate, and non-farm small/micro enterprises.
Under PMMY, collateral free loans of up to Rs 10 lakh are extended by member lending institutions viz scheduled commercial banks, regional rural banks, small finance banks, non-banking financial companies, micro-finance institutions.
The loans, offered in 'Shishu', 'Kishore and 'Tarun' categories, are given for income generating activities in manufacturing, trading and services sectors and for activities allied to agriculture. While the Shishu category covers loans up to Rs 50,000, the Kishore category offers loans above Rs 50,000-Rs 5 lakh and the Tarun category above Rs 5 lakh-Rs 10 lakh.