TIA NEWS /
Finance Minister Arun Jaitley today said the government had set a target of disbursing Rs 1.22 lakh crore loan to micro and marginal businesses under MUDRA scheme by the end of the current fiscal.
Finance Minister was speaking at launch of a week long credit campaign under Pradhan Mantri Mudra Yojana (PMMY) with an aim to provide credit to small scale entrepreneurs.
Addressing a gathering after inaugurating the Mudra Mega Credit Camp at Mundka in New Delhi, Mr Jaitley said, unorganised sector provides employment opportunities to 11 crore people in the country and PMMY will help in funding them via banks in an organised manner. Mr Jaitley said, loans have been disbursed through PMMY to 37 lakh persons so far in the current Financial year.
Mr Jaitley said, Government has started PMMY to provide job opportunities through self employment to different sections of society in the country and there is a need to create awareness among people to take benefit of the scheme as it will boost economic activity in market. Mr Jaitley also disbursed loan to beneficiaries under the scheme.
The Mega credit campaigns are being conducted all over the country by banks from today and will continue upto 2nd of October. MUDRA Ltd has been established with an initial corpus of Rs 5,000 crore to provide capital to all banks seeking refinancing of small business loans under Pradhan Mantri Mudra Yojana . Under the scheme, so far over twenty four thousand crore rupees have been distributed to the beneficiaries. Of them, 52 per cent are Women and about 50 per cent new Enterprises. The scheme covers three categories, Shishu, upto Rs 50 thousand Kishore between Rs 50,000 to Rs 5 lakh and under Tarun category loans between Rs 5 to Rs 10 lakh are covered.