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FinMin ties up with Ola, other e-commerce firms to give loans under PMMY

The three way partnership between lenders, industry and the government aims to facilitate small business loans

Press Trust of India  |  Mumbai 

Arun Jaitley, Finance Minister

The has joined hands with over two dozen firms, including major players like Amazon, Flipkart, Ola and Uber, to provide to small entrepreneurs under the (PMMY), a top said.

The three way partnership between lenders, industry and the government aims to facilitate small business loans.

is a flagship scheme of the government to provide loans of up to Rs 1 million to small entrepreneurs. The loans are being given by banks, small finance banks, companies (NBFCs) and

The scheme aims to strengthen forward and backward linkages for robust value chains anchored by industries, aggregators, franchisors and associations.

"There are companies like Ola, Flipkart, Uber, dabbawalas, cable operators, Zomato, which have several small entrepreneurs as partners who require loans. We want to extend support to them under the Mudra scheme," told reporters here.

"The looks for good entrepreneurs, the companies look for supporting their partners and we are just trying to connect these dots," he added.

Other companies participating in the scheme include MakeMyTrip, Oyo, Meru Cab, Big Basket, Carz on Rent, Habib Salon, among others.

Last financial year, the government had extended Rs 2.53 trillion credit under the Mudra scheme, taking the total credit extended in the last three years to Rs 5.73 trillion.

First Published: Wed, May 23 2018. 18:35 IST
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