Prime Minister Narendra Modi will interact with over 100 MUDRA beneficiaries from across the country at a function in New Delhi on Wednesday.

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.

Also read | Pradhan Mantri MUDRA Yojana: How to apply? Check your eligibility

As on 23rd March, 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 8th April 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 upto Rs. 50000 is given under sub-scheme ‘Shishu’ between Rs. 50,000 to 5 lakhs under sub-scheme ‘Kishore’ and between Rs. 5 lakhs to Rs.10 lakhs under 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 Pradhan Mantri Mudra Yojana from April, 2016 onwards.