Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

30 Cr Loans Worth Rs 15.97 Lakh Cr Disbursed Under PMMAY Since Apr 2015: Karad

Banks and financial institutions have disbursed over 11.29 crore loans amounting to Rs 6.41 lakh crore during 2019-20 and 2020-21, Minister of State for Finance Bhagwat K Karad said in a written reply in the Rajya Sabha.

Photo Credit :

1455260425_qPp2h1_private-equity-shutterstock_870.jpg

Over 30 crore loans amounting to Rs 15.97 lakh crore have been disbursed since April 2015 under the Pradhan Mantri Mudra Yojana (PMMY), Parliament was informed on Tuesday.

Banks and financial institutions have disbursed over 11.29 crore loans amounting to Rs 6.41 lakh crore during 2019-20 and 2020-21, Minister of State for Finance Bhagwat K Karad said in a written reply in the Rajya Sabha.

Under PMMY, institutional credit up to Rs 10 lakh is provided for entrepreneurial activities to micro/small business units by Member Lending Institutions (MLIs), that is Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs), he said.

He also said a sample survey was conducted at the national level by the Ministry of Labour and Employment to estimate employment generation under PMMY.

As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (from 2015 to 2018), he said.

At an overall level, Shishu category of loan has about 66 per cent share among additional employment generated by establishments owned by Mudra beneficiaries, followed by Kishore (19 per cent) and Tarun (15 per cent) categories.

Replying to another question, Karad said public sector banks have filed suits against 10,857 instances of wilful defaults till March 31, 2021. 

(PTI)


Tags assigned to this article:
nbfcs Micro Finance Institutions (MFIs) RRBs PMMY loans