Banks disbursed Rs 6 lakh crore to 12 crore beneficiaries under Mudra Yojana: PM Modi

New Delhi, May 29 (KNN) During an interaction with beneficiaries of the Mudra Yojana (PMMY) scheme, Prime Minister Narendra Modi said that Rs 6 lakh crores have been disbursed to 12 crore beneficiaries.

He added that the scheme has empowered entrepreneurs to create new products and jobs in the market while relieving them from moneylenders and middlemen.

Out of the 12 crore beneficiaries, 28 % or 3.25 crore are first-time entrepreneurs while 74% or 9 crore borrowers were women and 55% were those who belong to the SC/ST and the OBC category.

Pradhan Mantri Mudra Yojana (PMMY) was launched by the Prime Minister on April 8, 2015, for providing loans of up to ₹10 lakh to the non-corporate, non-farm small/micro enterprises