ENA MSME 2024-06-05 13:13:00 <p><span style="font-size:14px"><strong>New Delhi, Jun 5 (KNN)</strong> In a significant boost to small businesses and entrepreneurship in India, Mudra Loans under the Pradhan Mantri Mudra Yojana (PMMY) have surpassed the Rs. 5 trillion mark in disbursals during the fiscal year 2023-24.</span></p> <p><span style="font-size:14px">This momentous achievement underscores the government's commitment to providing collateral-free financing to micro, small, and medium enterprises (MSMEs) and fostering an ecosystem of inclusive growth.</span></p> <p><span style="font-size:14px">Launched in 2015, the Mudra Loan scheme has emerged as a game-changer for the underbanked and underserved segments of the economy.</span></p> <p><span style="font-size:14px">By offering collateral-free loans of up to Rs. 10 lakhs to individuals and enterprises involved in manufacturing, trading, and services, the scheme has empowered countless entrepreneurs to turn their dreams into reality.</span></p> <p><span style="font-size:14px"> The milestone of Rs. 5 trillion in Mudra Loan disbursals is a testament to the government's unwavering commitment to the MSME sector, said the Finance Minister. These loans have played a crucial role in promoting entrepreneurship, job creation, and economic growth across the country. </span></p> <p><span style="font-size:14px">The success of Mudra Loans can be attributed to several factors, including competitive interest rates, flexible repayment terms, and a wide coverage spanning rural and urban areas.</span></p> <p><span style="font-size:14px">Moreover, the scheme's inclusive approach, targeting underprivileged sections of society, has contributed to financial inclusion and socioeconomic empowerment.</span></p> <p><span style="font-size:14px">One of the notable achievements of the Mudra Loan scheme has been its impact on women entrepreneurs. A substantial percentage of beneficiaries under the scheme are women, further promoting gender equality and empowerment.</span></p> <p><span style="font-size:14px">As India continues its journey towards becoming a global economic powerhouse, initiatives like Mudra Loans will play a pivotal role in nurturing the entrepreneurial spirit and driving innovation.</span></p> <p><span style="font-size:14px">The government remains committed to supporting small businesses and fostering an ecosystem conducive to their growth and success.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38075 https://knnindia.co.in/news/newsdetails/msme/mudra-loans-cross-rs-5-trillion-milestone-in-fy24 2024-06-05 13:13:00 knnindia.co.in