Loans worth Rs 18.60 trn sanctioned to 344 mn borrowers under PMMY in 7 yrs

Marking the seventh anniversary of Mudra scheme, PM Modi tweeted that the scheme has given an opportunity to countless Indians to showcase their entrepreneurial skills and become job creators

About Rs 18.60 trillion has been sanctioned to 344 million borrowers under the Pradhan Mantri Mudra Yojana (PMMY) in 7 year’s since the programme’s launch.

However, sanctions under the scheme fell to the lowest in four years to Rs 3.10 trillion in financial year 2021-22 to 48.6 million borrowers. Out of this, Rs 3.02 trillion was disbursed during the year.

In the last financial year, Rs 3.22 trillion was sanctioned to 48.9 million borrowers, out of which Rs 3.12 trillion was disbursed. The eligibility of such borrowers to avail loans under the Emergency Credit Line Guarantee Scheme (ECLGS) is likely