Over 21k Crore disbursed under Pradhan Mantri Mudra Yojana

  • Union minister of Law has said, a total of Rs 21,586 crore has been disbursed under it so far benefiting over 33 lakh people under Pradhan Mantri Mudra Yojana.
  • Reserve Bank of India had issued necessary circular that no collateral security should be insisted for loans up to Rs 10 lakh under MUDRA” (Micro Units Development and Refinance Agency) Yojana, launched in April last year.
  • One of the main aims of the yojana was to check exploitation of small entrepreneurs in the hands of private money lenders who charged high rate of interest for loans.
  • There are also provisions to extend special benefits to people belonging to scheduled castes and scheduled tribes, youths and women.

Source: ET

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