Pradhan Mantri Mudra Yojana (PMMY) has been one of the flagship initiatives of the government to promote entrepreneurship spirit among the youth by providing easy loans without guarantees.
As on March 23, 2018, 4,53,51,509 loans have been sanctioned, amounting to Rs 2,28,144.72 crore. The total amount disbursed under this scheme is Rs 220596.05 crore.
The scheme was launched on April 8, 2015, to promote and ensure access of financial facilities to Non –Corporate Small Business Sector (NCSBS). The loans provided are easily accessible and in three categories- Shishu, Kishore and Tarun.
Under the scheme, all loans upto Rs.10 lakh for income generating activities will be extended as PMMY loans.
Loan of up to Rs 50000 is given under sub-scheme ‘Shishu’ between Rs 50,000 to rs five lakh under the sub-scheme ‘Kishore’ and between Rs five lakh to Rs 10 lakh, under the sub-scheme ‘Tarun’.
Activities allied to Agriculture (excluding crop loans, land improvement such as canals, irrigation, wells) and services supporting these, which promote livelihood or are income generating, have also been included under the PMMY from April, 2016 onwards, the statement said on Tuesday.