New Delhi, Apr 8 (PTI) Union Home Minister Amit Shah said on Wednesday that the Pradhan Mantri Mudra Yojana (PMMY), a scheme brought by the Modi government that has completed 11 years, has empowered small traders and start-ups by providing collateral-free loans, thereby giving a new boost to self-employment and small industries.
In a post on X, Shah said in the 11 years of the MUDRA Yojana, 58 crore loans worth more than Rs 40 lakh crore have been disbursed under the scheme, benefitting 12 crore youngsters and giving new momentum to the journey of building a self-reliant India.
“In 11 years of MUDRA, the government led by Shri Narendra Modi has empowered small traders and startups by providing collateral-free loans, thereby giving new strength to self-employment and small industries…The fact that 2 out of every 3 Mudra loans have been given to women is a historic achievement towards women’s empowerment and self-reliance,” he said.
Launched by Prime Minister Narendra Modi on April 8, 2015, the PMMY improves credit access and offers collateral-free loans of up to Rs 20 lakh.
The scheme operates through a three-tier institutional structure comprising the Micro Units Development and Refinance Agency Limited (MUDRA), Member Lending Institutions (MLIs) and Beneficiaries (borrowers).
This framework enables a seamless flow of credit from formal financial institutions to micro enterprises through an intermediary-driven model, a government statement said. RC
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