AMN
Prime Minister Narendra Modi has lauded Mudra Yojna which he says has opened up new opportunities for the youth, women and those who wanted to start or spread their businesses.
Interacting with Mudra Yojana beneficiaries through the Namo app, Prime Minister said that centre trusted the small entrepreneurs and traders by extending loans to them. He further added that Mudra Yojna is also acting as a job multiplier and that many people would not have had to migrate had the scheme been started earlier.
PM Modi added that the mudra scheme had done remarkably well in helping the poor to break away from the clutches of the loan sharks.
He said six lakh crore rupees loans have been given under the Mudra scheme to 12 crore families. Prime Minister also urged the beneficiaries of the sheme to encourage others to use the BHIM app.
Mr Modi said, under the scheme, loans worth 6 lakh crore rupees have been given to 12 crore beneficiaries. He said, 110 Banks, 72 Micro Financial Institutions, 9 Non-Banking Financial Companies are giving loans with much simpler paperwork.
The Prime Minister said, 75 per cent loans have been given to youth and women, with SCs, STs and OBCs getting 55 per cent of the total loans.
Mr Modi said, there was a time, when the Finance Minister himself did everything to give loans to big industrialists, and a small entrepreneur had to give his life for paying the interest to moneylenders.