78% of beneficiaries under Mudra Loan are women
Updated: Jul 24, 2017 06:35:33am
78% of beneficiaries under Mudra Loan are women
New Delhi, July 24 (KNN) As much as 78% of beneficiaries of Mudra loans have been women entrepreneurs. They are recipients of 50% of the Rs 3,55,590 crore sanctioned under the scheme to help micro businesses, according to data by Finance Ministry.
Finance Ministry revealed this in response to a question raised by BJP MP Vinay J Sahasrabuddhe
Around Rs 1,78,313 crore of loans sanctioned were to women who were self-employed and running businesses such as bakeries, paper products, food parlours, hair dressing and personal care. Other micro businesses, run by men and women, could include computer assemblers and roadside vendors.
The data also showed that 23% of the loan amounts sanctioned went to OBC beneficiaries, 10.5% to scheduled castes and 3% to scheduled tribes.
Meanwhile, Santosh Kumar Gangwar, Minister of State for Finance said this in written reply to a question in Rajya Sabha recently said that in the Financial Year 2016-17 as much as Rs 1,80,528 crore has been sanctioned under Pradhan Mantri Mudra Yojana (PMMY) Scheme to all units which has exceeded the target of Rs 1,80,000 crore.
Loans under PMMY Scheme have been extended by banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to small/micro business enterprises since April 8, 2015 with the objective of ‘Funding the unfunded’ through institutional finance by providing loans upto 10 lakh for manufacturing, processing, trading, services and activities allied to agriculture.
In the FY 2015-16, amount of Rs 1,37,449 crore has been sanctioned as against the target of Rs 1,22,188 crore.