The Pradhan Mantri MUDRA Yojana (PMMY) on Tuesday celebrated 10 glorious years of empowering small and micro-entrepreneurs across India with over Rs 33.65 lakh crore sanctioned to more than 52 crore MUDRA loan accounts.
On the occasion, Prime Minister Narendra Modi welcomed the ‘Mudra Yojana Beneficiaries’ at his residence and said that the scheme is an “eye-opener” for any government.
“I thank you all for coming to my residence. It is said in our scriptures that when guests come to a house, the house becomes pure, so I welcome you all,” PM Modi said, interacting with the beneficiaries.
PM Modi said that Rs 33 lakh crore has been given to the people of the country without any guarantee.
Highlighting PMMY’s role in Empowering Millions and Fulfilling the Vision of Inclusive Growth, Union Minister of Finance, Nirmala Sitharama remarked, “With over Rs 33.65 lakh crore sanctioned to more than 52 crore MUDRA loan accounts, the scheme has proved to be an important milestone in giving wings to the aspirations of crores of entrepreneurs, particularly those belonging to marginal sections of society.”
“Since 2015, Rs.11.58 lakh crores worth of MUDRA loans have been sanctioned to various marginalised communities belonging to Scheduled Castes, Scheduled Tribes and OBCs realising PM’s mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayaas’” she said.
Notably, to strengthen support for aspiring entrepreneurs, the Finance Minister announced an increase in the loan limit to ₹20 lakh during the Union Budget 2024-25 on July 23, 2024.
This new limit took effect on October 24, 2024.These loans are extended through Banks, NBFCs, MFIs, and other financial institutions.
The Finance Minister also said that it is heartening to note that nearly 68% of the total MUDRA loan accounts have been sanctioned to women, becoming a tool for empowerment and enabling women to national economic growth, and inspire the next generation of female entrepreneurs.
According to the data shared by the Finance Ministry on the occasion, a total of Rs 8.49 lakh crore was disbursed under the Shishu category, Rs 4.90 lakh crore under Kishor, and Rs 0.85 lakh crore under the Tarun category.