Mudra loan crosses pre-covid mark disburses Rs 1.58 lakh cr

New Delhi, 27 Dec (KNN) The Pradhan Mantri Mudra Yojana (PMMY) launched in 2015 to support micro business, SMEs has reached back on track with loans disbursals surpassing even pre-Covid level, as published in BusinessLine.

According to a banking source, BusinessLine has reported that in the current financial year INR 1.58 lakh crore have been disbursed by banks and other agencies, which is makes it much higher than the INR 1.21-lakh crore extended in the same period last year hit by the Covid pandemic.

It has also surpassed the INR 1.51-lakh crore disbursals during pre-Covid year (April-December 2019).

This information was received to BusinessLine from a General Manager of a public sector bank, the source said that there has been greater traction in the segment in the current financial year due to normalisation of economic activity, especially during the last three months.

Mudra loans comprises of three categories — Shishu, up to INR 50,000, Kishor from INR 50,000 to INR 5 lakh and Tarun from INR 5 lakh to INR 10 lakh.

The largest share is accounted by Shishu loans with the total disbursal at about 48 per cent.

As per the official notification, Mudra has also extended the last date for submission of final claims for the 2 per cent Interest Subvention Scheme (ISS) till December 31, 2021. Thereafter, “the PMMY portal will be closed for submission of claims under ISS.”