Pradhan Mantri Mudra Yojana (Download PDF)

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Pradhan Mantri Mudra Yojana was made to disbursed loans which were covered under this yojana have crossed its target on Rs. 1.8 lakh crore in the financial year 2016 - 17. Loans that were extended have are of Rs. 1.80, 087 crore in the current scenario. Majority of these loans were given by the banks and non banking financial institutions have lent about Rs. 57, 000 crore. In this year’s budget, Rs. 2.44 lakh crore has been set as a target for Mudra loans for the financial year 2017 - 18.

Image of Pradhan Mantri Mudra Yojana

Image of Pradhan Mantri Mudra Yojana

Image of Pradhan Mantri Mudra Yojana

Significance

  • There have been 4 crore borrowers and in this 70 % were women
  • In this 20 % were of Scheduled Caste category, 5 % belonged to Scheduled Tribe category and 35 % belonged to other backward classes.
  • Unfunded and underfunded segments of the society have given vigorous growth which is indicating that this category of borrowers has emerged as a key driver of demand for credit.
  • There would not be any need of collateral/guarantor
  • Only simple documentation is needed
  • There will quick processing of the loans
Objectives of Pradhan Mantri Mudra Yojana

Objectives of Pradhan Mantri Mudra Yojana

Objectives of Pradhan Mantri Mudra Yojana

Pradhan Mantri Mudra Yojana (PMMY)

  • It has been made under the Micro Units Development and Refinance Agency Bank
  • It is a new institution set up by the Government of India for development and refinancing activities relating to micro units
  • While presenting the Union Budget 2017, this Yojana was announced by the Finance Minister
  • The purpose being to provide funding to the non corporate small business sector
  • Loans worth about Rs. 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, Prime Minister Narendra Modi said today, emphasizing that the government wants youth to be job creators and not job seekers
  • The objective was to support the entrepreneurs of Scheduled Castes, scheduled tribes and other backward classes’ entrepreneurs in the MSME sector.
  • It was launched on April 8, 2015. The cards serve as the unique feature of this card which are permitted to work through the bank ATMs and card machines

- Published/Last Modified on: April 21, 2017

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