Mudra Loans

'No such letter issued': Government on claim of Rs five lakh Mudra loan

The government warns against a viral scam promising Rs 5 lakh under the Mudra Yojana for a Rs 2,100 fee

Mudra loans power millions of small businesses, fuelling India's growth

By expanding the list of beneficiary businesses, the scheme is increasing support for micro and small enterprises and helping India in achieving its ambition to become a $5 trillion economy

Empowering India's entrepreneurs: The transformative role of Mudra loans

Today, the Mudra loan has become a vital financial lifeline for the unorganised and underserved segments, driving livelihood generation and economic growth

Pradhan Mantri Mudra Yojana: Beyond the decadal journey to empower India

Most beneficiaries of PMMY are first-generation entrepreneurs with humble beginnings that have been able to break free from the financial constraints faced by them

Mudra loan provided by Punjab & Sind Bank generates 1 million jobs: MD

Mudra loans provided by Punjab & Sind Bank over the last 10 years have been able to generate 10 lakh jobs at the grassroot level, the bank's managing director Swarup Kumar Saha said. Sharing the journey of Pradhan Mantri Mudra Yojana (PMMY) over the past 10 years, Saha said, the bank has disbursed loans to the tune of Rs 12,820 crore under the scheme, benefiting over 6.84 lakh beneficiaries across the country. "These include small vendors, women entrepreneurs, artisans, and youth, who are now empowered to become economically self-reliant. About 44 per cent of our disbursals have been under the Shishu (loans up to Rs 50,000) category, which speaks about our focus on first-time borrowers and grassroots entrepreneurship," he told PTI. Punjab & Sind Bank has enabled entrepreneurs to establish and expand their businesses, leading to employment generation, he said, adding, "So far approximately 10 lakh employment have been generated by the bank through this scheme at the grassroots .

Budget 2025-26: MSME ministry pitches for higher Mudra loan limits

In the proposal sent to the finance ministry, the MSME ministry has suggested raising the Shishu category limit to Rs 5 lakh and the Kishore category to Rs 10 lakh

PSBs at only 42% of FY25 MUDRA disbursement target by October-end

As of October 25, MUDRA loans amounting to Rs 28,511 crore or 12.4 per cent of the annual target for PSBs, is still under process

Centre doubles Mudra loan ceiling to Rs 20 lakh under new category

Finance Minister Nirmala Sitharaman had made an announcement regarding this in her July 2024 Budget speech

Customer connect can help avert MUDRA loan crisis, says SBI Dy MD

In August, the Finance Minister had said that public sector banks' non-performing assets (NPA) in the MUDRA loan category stood at 3.4 per cent in FY24, compared to 4.7 per cent in FY21

Niti Aayog calls for guidelines, e-KYC to check PMMY applicants background

The government think tank NITI Aayog has pitched for a set of guidelines for assessing the creditworthiness and background verification for those availing loans under the Pradhan Mantri Mudra Yojana (PMMY). The Aayog in a report titled 'Impact Assessment of PMMY' suggested encouraging E-KYC authentication for loan underwriting. This will enhance the effectiveness of assessment checks. "A set of guidelines for assessing the creditworthiness and background verification must be enlisted to provide a security net to the banks, considering the loans are collateral free and a proper risk check and assessment has a critical role to play in the sustainability of results and success of the scheme," it said in the report posted on its website. The majority of borrowers under PMMY are small entrepreneurs who have very limited documents and this makes it difficult for the banks to run verification checks as it requires more staffing and employees. The Aayog also suggested that a proper reward

Govt to meet PSBs to review financial inclusion schemes: Check details

Ahead of Budget 2024, the Finance Ministry will meet state-owned banks and financial institutions on Tuesday to assess advancements in key financial inclusion schemes. Three key schemes explained

BJP promises to double Mudra loan limit to Rs 20 lakh in its poll manifesto

Over 460 million loans worth Rs 27 trillion have been given so far under the yojana

BJP promises to double Mudra loan ceiling to Rs 20 lakh: Details here

Under the PM Mudra Yojana (PMMY), over 460 million loans worth Rs 27 trillion have been given so far

Essential Insights on MUDRA Loan Rates for Borrowers

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270 mn loans to women under MUDRA; here's all you need to know about scheme

The MUDRA loans are given by commercial banks, regional rural banks, small finance banks, microfinance institutions, and non-banking financial institutions

More than 408.2 mn loans amounting to Rs 23.2 trn sanctioned under PMMY

PMMY aims to facilitate easy collateral-free credit of up to Rs 10 lakh to micro-entrepreneurs for income-generating activities

Mudra loans worth Rs 36,578 cr sanctioned to 5.4 mn borrowers in April-May

A total of Rs 19.22 trillion loans have been sanctioned to 353 million borrowers under the scheme in seven years since inception

Amid rise in Mudra loan NPAs, finmin to meet PSB CEOs to take stock

Minister of State for Finance, Bhagwat Karad will meet the PSB CEOs on September 16 in Aurangabad

Time to bury Mudra 'loan mela'

The loan mela called Mudra was a populist and political move to give away money

Banker's Trust: Tamal Bandyopadhyay on the facts and fiction of Mudra loans

Do we need yet another refinance agency? No one will shed a tear if Mudra is given a decent burial