New Delhi, April 1: Since its launch in April 2015, the Prime Minister Mudra Scheme (PMMY) has approved over 52.37 crore loans, distributing a total of ₹33.65 lakh crore, according to an official fact sheet.
The fact sheet reveals that approximately 70% of these loans have been granted to women entrepreneurs. Additionally, nearly 50% of the loans have benefitted individuals from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC).
When categorized, the ‘Shishu’ category accounts for the highest number of loans, with 78% of the total. However, in terms of loan amount, this category represents only 36%. The ‘Shishu’ category includes loans up to ₹50,000.
The ‘Kishor’ category, which includes loans ranging from ₹50,000 to ₹5 lakh, constitutes 20% of the total loans but holds a 40% share in terms of amount.
Loans in the ‘Tarun’ category range from ₹5 lakh to ₹10 lakh. This category represents only 2% of the total loans but accounts for 24% of the total loan amount.
Additionally, the ‘Tarun Plus’ scheme has been introduced for those who have successfully repaid loans from the Tarun category. Under this scheme, loans between ₹10 lakh and ₹20 lakh are available. Furthermore, the Credit Guarantee Fund for Micro Units (CGFMU) will provide guarantee coverage on these loans, offering additional support to entrepreneurs.
This scheme aims to promote small businesses, including those in manufacturing, trading, and service sectors, as well as agriculture-related activities such as poultry, dairy, and beekeeping. It caters to both term loans and working capital needs.
To further assist entrepreneurs, Finance Minister Nirmala Sitharaman announced an increase in the loan limit to ₹20 lakh in the budget presented on July 23, 2024, effective from October 24, 2024.
These loans are provided through banks, NBFCs, microfinance institutions, and other financial entities, fostering the growth of small businesses across the country.
Leave a Comment