Rs 77,916.5 cr disbursed under Mudra till Dec 9, 2016

New Delhi, Jan 2 (KNN) Till December 9, 2016, Rs 77,916.54 crore has been disbursed to as many as 2.12 crore borrowers under Pradhan Mantri Mudra Yojana (PMMY).

Out of total borrowers, as many as 1.68 crore were women entrepreneurs.

Prime Minister Narendra Modi had launched PMMY on April 08, 2015 to provide formal access of financial facilities to Non –Corporate Small Business Sector (NCSBS).  

All loans sanctioned on or after April 08, 2015 upto a loan size of Rs.10 lakh for non-farm income generating activities will be branded as PMMY loans.

PMMY was launched for Non–Corporate Small Business Segment (NCSB) comprising of proprietorship / partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits / vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas.

Any citizen, who is otherwise eligible to take loan and has a business plan for a small business enterprise, can avail MUDRA loan upto Rs.10 lakh.  The borrower needs to approach the nearest bank branch and submit the loan application, in the prescribed format along with the required supporting documents for availing of the loan.