Banks have given Rs 6 lakh crore Mudra loans to 12 crore beneficiaries: PM

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NEW DELHI: As part of government of India’s scheme of funding the unfunded, Indian Prime Minister Narendra Modi on Tuesday said banks and financial institutions have given Rs 6 lakh crore to 12 crore beneficiaries.
“Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs,” he said in his interaction with beneficiaries of this scheme. He also said 74 per cent, or 9 crore, borrowers are women and 55 per cent belong to the SC/ST and OBC category. Pradhan Mantri Mudra Yojana (PMMY) was launched by India’s Prime Minister Narendra Modi on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.

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