Home / Daily Dose / Government Scheme / Government Scheme of the day

Government Scheme of the day

150+ RRB NTPC Previous Solved Papers PDF  Free Download Now
RRB NTPC Free Study Material PDF Free Download Now
RRB NTPC Free Mock Test Attempt It Now
Quant Booster eBook – A Complete Maths Shortcut eBook   GET Book Now
SSC CGL,CPO,GD 2018 Study Material & Book Free PDF Free Download Now

 

Print Friendly, PDF & Email

Pradhan Mantri Mudra Yojana crosses loan targets

▪️Loans disbursed under the Pradhan Mantri Mudra Yojana (PMMY) have crossed its target of Rs 1.8 lakh crore in the financial year 2016-17. Loans extended currently stands at Rs 1.80,087 crore. Of this, a majority of the loans were awarded by banks (Rs 1.23 lakh crore). Non-banking financial institutions have lent about Rs 57,000 crore. In this year’s budget, Rs 2.44 lakh crore has been set as a target for Mudra loans for the financial year 2017-18.

Significance

▪️Significantly, out of the 4 crore borrowers, over 70% of the borrowers were women. Around 20% of the borrowers belonged to Scheduled Caste category, 5% belonged to Scheduled Tribe category and 35% belonged to other backward classes.
Robust growth in bank loans to unfunded and underfunded segments of the society indicates that this category of borrowers has emerged as a key driver of demand for credit.

▪️Non-insistence of collateral/guarantor, simple documentation and quick processing are the three praiseworthy attributes of the MUDRA loans.

Pradhan Mantri Mudra Yojana (PMMY)

▪️The objective of this scheme to launch a Micro Units Development and Refinance Agency (MUDRA) Bank to support the entrepreneurs of Scheduled castes, scheduled tribes and other backward classes entrepreneurs in the MSME sector. The scheme was launched on April 8, 2015.

▪️MUDRA cards are the unique feature of this scheme. The card permits access to working capital through ATMs and card machines.

▪️MUDRA loans can be availed for non-agricultural activities upto Rs 10 lakh and for activities allied to agriculture such as dairy, poultry bee keeping etc. The scheme provides loans to micro units in three categories ranging from Rs. 50,000 to Rs. 10 lakh.

▪️Shishu: Loan up to Rs 50,000

▪️Kishore: Loan ranging from Rs 50,000 to Rs 5 lakh

▪Tarun: Loan ranging from Rs 5 lakh to Rs 10 lakh

GovernmentAdda Recommends  Online Tyari Mock Test
RRB Group D Speed Test Attempt Now Attempt Now
Railway RRB Pshyco Complete Package  Get It Now
SSC CHSL, CGL Mock Test (1 free+30 Paid) Attempt Now

 

RRB JE Free Study Material PDF Books Free Download Now
FCI Free Study Material PDF Books Free Download Now
SSC JE Free Study Material PDF Books Free Download Now
Download Quant Power Bank (1000+ Pages) Free Download Now
Reasoning & GI Booster -Power Bank Book (1200+ Pages) Free Download Now

 

About GovernmentAdda

We provide all Govt Jobs Like Banking, SSC, FCI,UPSC, Railways and all other important government exams Study Materials,Tricks,Quizes,Notifications,Videos etc.

Check Also

Government Scheme of the day

150+ RRB NTPC Previous Solved Papers PDF  Free Download Now RRB NTPC Free Study Material …

error: